He started his career at Abu Dhabi Investment Authority in the year 1982. Al Mubarak held a number of positions at Tawazun Economic Council, formerly known as UAE Offsets Group, before assuming his current portfolio of responsibilities. Previously he had held various board membership in several regional and international publicly listed companies across various sector such as finance, oil & gas, real estate and healthcare (UAE Banks Federation, GFH Financial Group, NESR (NASDAQ listed), SDX Energy (AIM listed), Deem Finance and Abu Dhabi Finance. Mr. Quarta has been a Partner at CD&R for 21 years and is chairman of CD&R Europe. H.H. In keeping with the Bank's principles of transparency, Directors may use the iPad application to view and access all documents presented to the Bank's management committees, as well as minutes of meetings of those committees. ABU DHABI, H.H. Board of Directors | Abu Dhabi Investment Council Menu Mobile menu toggle About us History Organization Chart Governance Committees Business Functions Chief Executive Officer Active Investment Strategies Equities and Fixed Income Global Special Situations Infrastructure Private Equity Real Estate Support Functions Careers Culture Opportunities Thoma Bravo Fund XV, L.P. managed by Thoma Bravo, L.P. and Abu Dhabi Investment Authority entered into an Agreement and Plan of Merger to acquire Coupa Software Incorporated from a group of. Board of Directors | Abu Dhabi Investment Group Leadership Board Of Directors Sheikh Dr.Majid bin Saeed Al Nuaimi Chairman As nephew and son in law of Ajman ruler he played a major role in the development of UAE from a desert to an oasis. His Excellency earned his stripes in professional finance at Citi Bank in London. [14][15], On 27 May 2013, ADIA published its 2012 Review, with an overview of its activities during the past year as well as an explanation of its approach to investing strategy, governance and risk management.[16]. Previously, Mr. Al Darmaki held the position of Chairman at the Central Bank of the UAE, Abu Dhabi Investment Company, Abu Dhabi Securities Market, Global Investment House (Kuwait), and as a Board Member at National Bank of Abu Dhabi, Al Hilal Bank, Arab Banking Corporation and Qatar Telecom (Ooredoo). He was the Secretary General of the UAE Cabinet since 2017, during which he was instrumental in strengthening the interdependence between the federal and local governments. She also has an MBA in International Finance and is a member of the Institute of Management Accountants, IMA. Mr. Kanoo currently serves as the Chairman of The Kanoo Group, one of the largest, longest running and independent family-owned groups of companies in the Gulf region. The following matters are reserved to the Bank's Board in accordance with best practices: The Board conducts a formal and rigorous evaluation of its performance annually, with a view to constructively identifying areas of success and achievement, as well as areas, which may require improvement. The Committee has agreed a list of skill requirements necessary for the proper functioning of the Board as a whole. In his role as Minister of Industry and Advanced Technology, Dr. Al Jaber oversees efforts to further expand the industrial development of the UAE, and in particular promote in country value, leveraging technology as a key enabler, as we enter the Fourth Industrial Age. Board Of Directors - EIA H.H. H.E. He has completed a General Management Program from Harvard Business Schools and holds Bachelor in Business Administration with Honours. The Board Secretariat assists the management by helping them to understand the requirements and directions of the Board and proactively facilitates the governance of the Bank. BSc Business Management (University of Sussex, UK). The majority of the Directors are UAE nationals, as per the requirements of the Federal Commercial Companies Law and the Bank's articles of association. Khalid Deemas Alsuwaidi was appointed by Abu Dhabi Investment Council (ADIC) to join the ADCB Board of Directors in March 2009. In 2006, while at Mubadala, at the direction of the UAE leadership, he helped establish Masdar, Abu Dhabis pioneering renewable energy initiative, and served seven years as its CEO, guiding its global contribution to clean technology and sustainable development. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. [8] Due to its size, the fund has been influential in international finance. Investment Stage Secondary Market. Overall between 70% and 80% of the organization's assets are managed outside, and over the last few years the fund has become more indexed which given its unique asset liability structure is somewhat perplexing. The function is both administrative and strategic. His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Governments Executive Office. Before joining Mubadala, Carlos Obeid worked with the UAE Offset Program Bureau, where he led a wide range of initiatives including privatisation, utilities and financial services. ABU DHABI, Under the patronage of H.H. As a result of regular written declarations submitted by each of the Board Members, the Board maintains satisfactionthat the other commitments of the Directors do not conflict with their duties, or that, where conflicts may arise, the Board is sufficiently aware and appropriate policies are in place to minimise the risks. And a Chairman at Emaar Malls PJSC and an Independent Director at Badwa Capital Ltd.He previously served on the board of The National General Insurance Company and Takaful House, both publicly listed insurance companies, and was appointed as the interim chairman of Dubai Bank after its takeover by Emirates NBD. The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. Both loans will require onlending H.E. Any candidate for appointment as a Director must first be considered and approved by the Board's Nomination, Compensation, HR & Governance Committee. Sheikh Mansour Bin Zayed Al Nahyan Chairman H.H. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. In line with the above, the Bank has determined that, (a) Board members employed by Abu Dhabi Investment Council, the Government of Abu Dhabi's Department of Finance or Abu Dhabi Investment Authority should be classified as independent directors, (b) the Bank's Board contains a majority of independent directors, and (c) each of the Bank's Board committees contains a majority of independent directors. The excitement of helping others achieve their goals, both big or small, is what drives him. All three functions cover all banking activities in general and key risk areas in particular. Reporting to H.H., the Managing Director, his current responsibilities as Advisor Managing Director Office include portfolio management, asset allocation, strategic decisions and broad financial analysis. H.E. Based in London, he played the lead operating role in the Firms investment in SPIE and served as chairman of the supervisory board of Rexel during CD&Rs ownership of the company from 2005 to 2014. Tailored induction programmes are arranged for all newly appointed Directors. H.E. With a joint MBA from London Business School and Columbia, he then joined Mubadala in the UAE sovereign wealth sector. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate. PitchBook provides insight into a limited partners preferred investments, including actual and target allocations by strategy, secondary market preferences and interest in first-time funds. Khaled H. Alkhoori was elected by ADCB shareholders to join ADCBs Board of Directors in April 2012. The Banks internal controls over financial reporting comprise processes designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles. He was also the focal point for a number of comprehensive strategic partnerships with a number of countries. He is former chairman of IMI plc and a former non-executive director of SPIE, BAE Systems plc, Foster Wheeler Corporation, Fondo Strategico Italiano, Equant NV, and PowerGen plc. United Arab Emirates, Emirates Investment Authority All Rights Reserved 2023, EIA launches strategy aimed at achieving UAEs development goals, Mansour bin Zayed chairs meeting of EIA Board of Directors, Mansour bin Zayed chairs EIA board meeting. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. He holds a Bachelors Degree in Economics from Northeastern University of Boston, Massachusetts, U.S.A. Mr. Mohamed Hadi Al Hussaini is the Chariman of Emirates Integrated Telecommunications Co. PSJC, and currently he sits on the board of Emirates NBD, Em. Over this decade, AD Ports has become a thriving business, turning a profit two years ahead of the approved business plan. H.E Mohamed Hassan Alsuwaidi. To read relevant policies please see below: The Bank's Board Secretariat and Corporate Secretariat function acts as an interface between the Board and management. Board Member of Cleveland Clinic Abu Dhabi. Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. BSc Business Finance (Lewis &Clark College, USA). It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. This is a profile preview from the PitchBook Platform. In addition, the risk management and compliance functions monitor control activities on an ongoing basis. ADIA conducts its investment activities without reference to the Government of Abu Dhabi and has no visibility on the spending requirements of the Government or the activities of other Abu Dhabi-owned investment entities. Ahmed Saeed Al Calily, Chief Strategy and Risk Officer, Mubadala Investment Company M Ahmed serves as Mubadala's Chief Strategy & Risk Officer, where he is responsible for the company's Corporate Strategy, ESG, and Enterprise Risk Management framework. In 2019, Dr. Al Jaber received a lifetime achievement award from his Excellency the prime minister of India, Narendra Modi, for his contributions to energy security, building bridges to emerging Asian economies and for reshaping traditional energy business models. H.E. It is the responsibility of Banks Board of Directors to: Control activities are closely monitored across the Bank by the Banks internal audit function, working independently of management. Khaldoon Khalifa Al Mubarak holds a number of UAE Government and Abu Dhabi Government responsibilities, including: a Member of the Abu Dhabi Executive Council since 2006; a Founding Member of Abu Dhabis Supreme Council for Financial and Economic Affairs; the Presidential Special Envoy to China since 2018; and the Founding Chairman of the Abu Dhabi Executive Affairs Authority, which has provided strategic policy advice to the Chairman of the Abu Dhabi Executive Council since 2006. BSc Computer Information Systems (Bethune Cookman College, USA). Also, he is a graduate of the UAE Government Leaders Program and Mohammed Bin Rashid Center for Leadership Development. Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July . Establishment of Investment Process and Portfolio Management. United Arab Emirates, Emirates Investment Authority All Rights Reserved 2023. The Banks internal controls over financial reporting include policies and procedures that (i) are designed to ensure maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Bank; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles, and that receipts and expenditures of the Bank are being made only in accordance with authorizations of management and directors of the Bank; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Banks assets that could have a material effect on the financial statements. Mr. Al Badi has more than 35 years of experience in the government and private sector. How satisfied are you with the overall experience on our website? In the context of strengthening cooperation between AAAID and Abu Dhabi Chamber of Commerce and Industry, a memorandum of understanding was signed that aimed The Bank's policy is to, so far as possible, only engage in transactions with related parties (including Directors) on arm's length terms. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. General Information Description Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. Aysha Al Hallami does not hold any external directorships. H.E. The Abu Dhabi Investment Authority (Arabic: , ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi (in the United Arab Emirates) founded for the purpose of investing funds on behalf of the Government of the Emirate of Abu Dhabi. She also served on the boards of National Bank of Abu Dhabi, Al Hilal Bank and National Takaful Co. Watania and was a Director in the Global Special Situations Department at the Abu Dhabi Investment Council. Our team helps investors and companies of all sizes establish their business, grow and develop in Abu Dhabi. The Group Chief Internal Auditor functionally reports to the Audit Committee and to the Group Chief Executive Officer on administrative and day-to-day matters. Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July 2020. Andrew Kripke Director, Portfolio Manager - US Team. Each asset class has its own fund managers and in-house analysts covering it. Decree establishes the EIA as sole Federal investment vehicle. Even today, investment in short-term paper remains the strategy for the vast majority of countries. In July 2020, Dr Al Jaber was appointed Chairman of Emirates Development Bank, a key partner in providing financial services for the sustainable economic and social development of the UAE. Where necessary, the Committee will also consider whether the candidate meets the Bank's criteria for independence. ADGM has also tapped on the inherent strengths of the Abu Dhabi economy to establish an international financial centre which will stand alongside the world's leading centres, such as Hong Kong, Singapore, London and New York, operating in partnership with them. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 Conor Boden . Al Gergawi is the Secretary-General of the Mohammed bin Rashid Global Initiatives (MBRGI), a philanthropic foundation that combines under its umbrella over 30 humanitarian and developmental initiatives and entities. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). [5] The goal was to invest the Abu Dhabi government's surpluses across various asset classes, with low risk. The Board of Directors of the Emirates Investment Authority consists of a group of distinguished and accomplished individuals, led by His Highness Sheikh Mansour Bin Zayed Al Nahyan as its Chairman. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. Air Arabia Abu Dhabi is Etihad Airways' first major investment, a change from its long-held relationship strategy of airline equity partnerships. [9], 20 year and 30 year annualized rates of return for the ADIA portfolio were 7.6% and 8.1%, respectively, as of 31 December 2010. EIA invests into a globally diversified investment portfolio. He was also responsible for all Treasury activities including Mubadalas bond issuances and project financing. We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. H.E. ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). Phone Number (971) 241-5000. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. Board Of Directors; CEO's Message; Staff. [7], ADIA manages a substantial amount of capital, and is one of the world's largest investment funds. He serves on the board of Emirates Global Aluminum-the fifth largest aluminum company in the world. ADCB has implemented a Directors' conflicts of interest policy. The Board of Directors is responsible for Mubadala's strategic direction, oversight and corporate governance, ensuring the business delivers on the government of Abu Dhabi's development and diversification priorities. According to the Sovereign Wealth Fund . All audits are conducted in accordance with the annual audit plan, which is approved by the Audit Committee, and which may be broadened, as circumstances require. [10] ADIA is one of the largest sovereign wealth funds in the world. Fatima Al Noaimi joined Mubadala in 2011 and is currently a Senior Principal on the Mubadala Capital Private Equity team. In the year 2005, Abu Dhabi Investment Company purchased 51 percent of shares of Massar (Company) from Abu Dhabi Power Corporation, a subsidiary of Abu Dhabi Water & Electricity Authority. HE Dr Sultan Ahmed Al Jaber is a member of the UAE Federal Cabinet, Minister of Industry and Advanced Technology, the UAE's special envoy on climate change, Chairman of Masdar, and President-Designate of COP28 - the first CEO to serve in this role. As a listed company, the Bank is subject to the rules and regulations enforced by the Emirates Securities and Commodities Authority and the markets upon which its shares and debt are listed, including the ADX, the London Stock Exchange, the Irish Stock Exchange, the Luxembourg Stock Exchange and the Swiss Stock Exchange. Contact Email dg_dgm@yahoo.in. BSc Electrical Engineering (American University of Beirut). UAE Federal Laws, including the Federal Law No.2 of 2015 Concerning Commercial Companies, as administered by the Ministry of Economy and the Department of Planning and Economy, in addition to any other local regulatory authorities of the Emirates. is also the former Director General of the Executive Office of H.H. Abu Dhabi Investment Authority's new research centre makes its debut with $100,000 award Adia Lab expected to play a proactive role in the development of the emirate's digital ecosystem The Abu Dhabi Investment Authority is capitalising on its technology and data analytics capabilities as it charts its future investment opportunities. Jan Schuster Portfolio Manager - Private Equity Division. His dedication to advancing the United Arab Emirates has been demonstrated through numerous director and chairman roles in major financial institutions and government bodies: Chairperson of the Board of UAE Central Bank, Chairperson of the National Bank of Abu Dhabi, Member of the Supreme Petroleum Council, Board Member of ADIA, Chairman of Abu Dhabi National Insurance Company, Member of Allianz International Advisory Board and Chairperson of the Arab Banking Corporation. H.H. He started his career at Abu Dha. The Board considers that there is an appropriate balance of knowledge, skills and experience on the Board and that the size and balance of the Board is appropriate. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. The solid performance of our initial portfolio as well as the rapid development of our investment platform and capability meant we were quickly entrusted by the Federal Government with further assets to manage and invest on behalf of the nation. He has also been Chairman of Emirates Financial Services. Abu Dhabi Investment Authority has 3 board members and advisors, including Shubhrawpratap Dasgupta. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. Almost every asset class is managed both internally and externally. Abu Dhabi Fund for Development 30 6 European Investment Bank 70 14 Japan International Cooperation Agency 184 36 Government and/or Nepal Electricity Authority 71 14 Total 505 100 Source: Asian Development Bank estimates. DISTINGUISHED LEADERSHIPBoard of Directors Mr. Hareb Al Darmaki Co-founder and Chairperson of the Board H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. Sheikh Mansour bin Zayed Al Nahyan,. Dr. Al Jaber has previously served on the United Nations Secretary Generals High Level Group on Sustainable Energy for All. Al Hussaini has widespread professional experience across the banking, finance, real estate and investment sectors. Compliance with anti-money laundering procedures and internal training in such procedures is also developed and administered by the Group Compliance department. In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . Though it talks of its long term success in generating returns, the fact that it has moved closer to the index and manages most of its funds through external third party fund managers shows that its tolerance for risk taking is greatly diminished over the years. Sheikh Zayed was appointed as a Director of ADCB in 2021, having had gained experience working at the National Bank of Abu Dhabi and Morgan Stanley. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. H.E. The board members currently serve for a period of three years, and can be renewed. All rights reserved. The Board of Directors set the strategic direction of the Bank (with due consideration given to risk tolerance, shareholder expectations, business development opportunities and other macroeconomic factors), which senior management then uses to design the Bank's strategic plan and prepare the annual budget for Board approval. Prior to his appointment, H.E. We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture. It is primarily involved in the establishment of Abu Dhabi National Bank 1968, and working in multiple sectors such as Banking, Financial services as well as Insurance services and manages investments. Al Gergawi is the Board Chairman of the Federal Competitiveness and Statistics Authority (FCSA), the government body responsible for developing and enhancing the countrys performance in the areas of global competitiveness and statistics. Advisor to the Nigerian Minister of Communications. BSc Civil Engineering (Northeastern University, USA). As a custodian of the Federal assets of the United Arab Emirates, the EIA is mandated to strategically invest funds allocated by the Federal Government to create long-term value for the UAE and contribute to the future prosperity of the country.