As the central government hub supporting investment in Abu Dhabi, we are committed to growing the emirate's private sector and diversifying its economy. Win whats next. Number of Board Member and Advisor Profiles 3. The programme comprises a comprehensive Directors' induction pack, meetings with other Directors and senior management, as well as comprehensive guidance on the duties and responsibilities of Directors, the Bank's policies and procedures and relevant legal and regulatory requirements. It often buys partial interest ownerships with leading real estate managers. 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. In 2013 Dr. Al Jaber was appointed an honorary Commander of the Most Excellent Order of the British Empire (CBE) by Her Majesty Queen Elizabeth II. All rights reserved. Al Hussaini holds a Masters degree in International Business from Webster University in Geneva, Switzerland. ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. in Accounting from United Arab Emirates University (UAEU). However, in 1976, Sheikh Zayed bin Sultan Al Nahyan, the founding president of the United Arab Emirates, converted it into the Abu Dhabi Investment Authority. Abu Dhabi Finance P.P.C is closed UAE Joint stock company headquartered in Abu Dhabi with a paid-up capital of USD ($)142,780,000. 2023 PitchBook. [2][3][4], In 1967, Abu Dhabi emirate created the Financial Investments Board which operated within its Department of Finance and was responsible for managing the Emirate's excess oil revenues. Please refer to ADCBs annual report for further details on Directors remuneration. Khaldoon Khalifa Al Mubarak is the Managing Director & Group Chief Executive Officer of the Mubadala Investment Company PJSC, responsible for aligning Mubadala with Abu Dhabi's economic diversification efforts. In this role, he oversees platform-wide activities, supports the delivery of the platforms investment strategy, manages the platforms capital allocation, ensures the successful implementation of capital deployment and monetization transactions and assesses value, risks and expected returns. Mishal Kanoo tries to help people reach their professional dreams. Air Arabia Abu Dhabi is Etihad Airways' first major investment, a change from its long-held relationship strategy of airline equity partnerships. Member of the Libyan Reconciliation Commission. is also the former Director General of the Executive Office of H.H. Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. H.E. Investments ADIA manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. Khalifa Al Kindi is a Managing Partner and Co-Founder of Abu Dhabi-based Liwa Capital Advisors. Before his current position, Saeed Almazrouei was Deputy Chief Financial Officer at Mubadala Investment Company PJSC, where he oversaw the group-wide finance function and delivery of the companys growth strategy, supporting various acquisitive transactions and asset monetizations. His Excellency earned his stripes in professional finance at Citi Bank in London. In the event that a vacancy arises, Directors are permitted to elect any individual nominated to fill the vacancy, but any director so appointed must seek election by the shareholders at the next annual general meeting. For over 50 years, the Group has played . [12] ADIA also invests in development projects including malls. Private Equity and Venture Capital, (Harvard Business School, USA) The GCEO and his senior management team are responsible for controlling and monitoring the Bank's business on a day to day basis, recommending strategy to the Board, managing the Bank's staff and implementing the Board's strategic and operational decisions. H.E is the Chairman of Emirates Water & Electricity Company and the Vice Chairman of Abu Dhabi Power Corporation and a member of the Board of Directors for Emirates Global Aluminum, Aramex Logistics Company, Minas de Aguas Teidas Copper Mine, Sociedad Minera de . Feedback. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. H.E. This is a profile preview from the PitchBook Platform. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. Click here for Terms of Reference for the Board of Directors. ADIA's mission is to sustain the long-term prosperity of Abu Dhabi by prudently growing capital through a disciplined investment process and committed people who reflect ADIA's cultural values. The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. Dr. Al Jaber is Chairman of the Board of Trustees of the Mohamed bin Zayed University of Artificial Intelligence, the Worlds first graduate-level, research based AI University. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Board of Directors of the Emirates Investment Authority (EIA), the. Staff. As a distinguished economist he became one of the top corporate turnover specialists and the most influential player in the history of UAE financial markets. Dr. Al Jaber continues to serve as Chairman of Masdar, guiding its strategic direction. The Abu Dhabi Investment Authority will receive units that will be convertible into Citigroup shares at a price of up to $37.24 a share between March 15, 2010, and Sept. 15, 2011. He was part of the high-profile team that was behind the launch of Area 2071, the nucleus of the future envisioned in the UAE Centennial Plan 2071. Abu Dhabi Investment Authority 's most notable . Acting within authority delegated by the Board, the Board Risk Committee (BRC) has overall responsibility for oversight and review of all risk types - credit, market, operational, liquidity, fraud, reputational, etc. [8] Due to its size, the fund has been influential in international finance. Our Objectives. With the initial core team and governance framework in place, we were then entrusted with the custody, management and development of strategic federal assets such as Emirates Integrated Telecommunications Company (du) and Emirates Telecommunications Corporation (Etisalat). Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. He is the Founding Member and Chairman of AlNowais Investments. United Arab Emirates, Emirates Investment Authority All Rights Reserved 2023. His Excellency holds a PhD in Economics from Imperial College, London. The Board of Directors and the management team regularly discuss and refine the Bank's strategy and objectives. [12] ADIA also invests in development projects including malls. All rights reserved. The Board Secretariat maintains a conflicts register that is regularly reviewed by the Nomination, Compensation, HR & Governance Committee. H.E. He was also the focal point for a number of comprehensive strategic partnerships with a number of countries. VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. During his tenure, Dr. Al Jaber oversaw the completion of Khalifa Port, Abu Dhabis flagship, fastest growing deep water port as well as Khalifa Industrial Zone Abu Dhabi (KIZAD), Abu Dhabis first integrated trade, industrial and logistics free zone. However, all loans are made on arms' length terms. [13] . Since January 2006, he has been the Chairman of Orient House for Development & Construction LLC. Phone Number (971) 241-5000. Playing a role in bettering peoples lives is a great instigator for doing what he does. The Abu Dhabi Investment Council is an investment arm of the Government of Abu Dhabi. The principal activities of the company are dealing Managing Investment and operating funds, in addition to Arranging, Advising and Custody. Listen to the content of the page by clicking on listen below CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). 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. Mr. Al Darmaki received a B.S. In carrying out its audit activities and responsibilities, members of the IAG have unrestricted access to all of the Banks records (either manual or electronic), assets, physical properties and personnel, relevant to the audit. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi 4 of 2007 as amended by Federal Decree Law No. Fatima graduated magna cum laude from the Higher Colleges of Technology with a B.S. It periodically reviews and monitors compliance with the Group's overall risk appetite and makes recommendations thereon to the Board. To lead the Board and ensure the effective engagement and contribution of all Directors, so that the Board may fully discharge its legal and regulatory responsibilities; To ensure effective communication with shareholders and ensure that the Board members understand the views of the major shareholders; To oversee the annual performance evaluation of the Board and individual Directors; and. 13 of 2009. 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. 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. Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. The IAG is responsible to ensure that all transactions undertaken by the Bank are conducted in accordance with the Banks internal procedures, and in compliance with applicable legal and regulatory requirements, thereby minimising the risk of fraudulent, improper or illegal practices. H.H. It will be backed by a major commitment from the Authority. This enabled us to assume the dual roles of a trusted advisor to the Federal Government as well as a highly efficient and capable investment manager of the UAEs sovereign wealth. H.H. The Board of Directors are responsible for determining the Bank's strategic direction. Board papers are delivered at least 3 business days before each Board meeting. However, improvement of control activities is an ongoing process at ADCB that includes identification, evaluation and management of significant risks faced by the Bank. Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July . Copyright 2023 ADCB. Abu Dhabi Investment Authority has made 51 investments. Dr. Al Jaber served as Chairman of the UAE National Media Council from 2015 to 2020, where he led an organizational and governance restructure, while guiding the media sectors development as a responsive and responsible contributor to news and knowledge sharing in the digital and social media age. The Abu Dhabi Investment Group (ADIG) is an investment arm of the Bin Aweidha Corporation Holding, Established in 1968, Based in Abu Dhabi, With Capital 1 Billion USD. Almost every asset class is managed both internally and externally. Over this decade, AD Ports has become a thriving business, turning a profit two years ahead of the approved business plan. Aysha Al Hallami does not hold any external directorships. Former board positions include: Chairman of Abu Dhabi Commercial Bank, Vice Chairman of the Abu Dhabi Investment Company, Governor of the Board of the CFA Institute . Sheikh Zayed bin AweidhaMANAGING DIRECTOR, Dr. Ahmed Abdulla Ghaith Al SuwaidiBoard Member. H.E. The Board monitors the performance of the Bank's businesses and guides and supervises the Bank's management. General Information Description Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. He has more than 16 years of banking experience, having held senior management positions with National Bank of Abu Dhabi and First Gulf Bank. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. EIA invests into a globally diversified investment portfolio. The Board has adopted a rolling agenda to ensure that each of its responsibilities is satisfied on a periodic basis, and considers other agenda items on an 'as required' basis. His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Government. The Board maintains awareness of the other commitments of its Directors and is satisfied that these do not conflict with their duties and time commitments as Directors of the Bank. Our initial core team demonstrated a mixture of international and local investment management skills as well as in-depth industry experience and expertise. Thereafter, senior management provides regular updates to the Board of Directors to monitor progress against budget and strategy and permit any necessary modifications or adjustments in strategic direction. In 2013 and 2014 we were entrusted with the custody of three additional strategic assets Emirates Post, Emirates Transport and Al Masraf bank. in International Studies from the John Hopkins University. According to the Sovereign Wealth Fund . ABU DHABI, Under the patronage of H.H. 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. Executive Trainer and Life Coach, Prudential Real Estate, and Relocation, USA. H.E. Investment Stage Secondary Market. Andrew Kripke Director, Portfolio Manager - US Team. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. Both loans will require onlending Decree establishes the EIA as sole Federal investment vehicle. Chief Financial Officer, Private Equities Department, Youre viewing 5 of 29 commitments. BSc Electrical Engineering (American University of Beirut). Mr. Quarta has been a Partner at CD&R for 21 years and is chairman of CD&R Europe. ADIA does not seek to manage or take an operational role in the companies in which it invests. Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. to the UAEs economy. Prior to his appointment, H.E. Chartered Financial Analyst, (CFA Institute, USA) In addition, he was the CEO of the Dubai Future Foundation, enabling him to play a vital role in the successful launch of Dubai 10X and other initiatives of national importance. in Business Administration. The BRC also guides management on risk appetite across sectors, geographies and customer types. In addition to his roles at ADIA and Gulf Capital, Mr. Al Darmaki holds multiple board roles, including Chairperson of Neue Privat Bank (Middle East), Board and Committee Member at Emirates Investment Authority. Dr. Sultan Ahmed Al Jaber is a member of the UAE Federal Cabinet, Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company (ADNOC). The UAE Minister of Economy holds a Bachelors degree in Civil Engineering from the University of Sheffield in the UK. The fund manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories, including quoted equities, fixed income, real estate, private equity, alternatives, and infrastructure. Number of Exits 23. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . In this role, he also spearheaded many initiatives to get the pulse of the people and know their sentiments, as well as build the UAEs long-lasting relations with international organizations such as the World Economic Forum. The current board dates back to the April 2010 reshuffle (Emiri decree n4/2010) and it was fully renewed April 2013. In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . Directors are eligible to receive, and have received, loans from the Bank. . Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. ABU DHABI, H.H. Tailored induction programmes are arranged for all newly appointed Directors. Mr. Al Badi has more than 35 years of experience in the government and private sector. [11], Today ADIA invests in all the international markets equities, fixed income and treasury, infrastructure, real estate, private equity and alternatives (hedge funds and commodity trading advisers CTAs). Overview We are the Abu Dhabi Investment Office - ADIO. 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. PitchBooks data visualizations help you see a limited partners commitmentsshowing a breakdown of activity by fund type and region, complete with performance metrics. Conor Boden . He was also responsible for all Treasury activities including Mubadalas bond issuances and project financing. He has received various awards including the United Nations flagship award Champion of the Earth in 2012, given to outstanding visionaries and leaders in the fields of policy, science and entrepreneurship. Under his leadership, ADIO has launched international offices around the world. Ensure that effective measures are in place to safeguard the Banks assets; Ensure proper accounting records and reliable financial information by procedures designed to avoid or reduce risks and ensure compliance with applicable laws and regulations; Ensure that an adequate and effective system of internal controls and procedures is established and maintained; and. ADIA has robust governance standards with clearly defined roles and responsibilities that ensure accountability. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). BSc Business Finance (Lewis &Clark College, USA). In addition, the risk management and compliance functions monitor control activities on an ongoing basis. We quickly established a formal, three-stage investment process consisting of: rigorous pre-screening and initial due diligence; followed by Investment Committee review and debate; and final investment decision-making from our Executive Committee. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. He serves on the board of Emirates Global Aluminum-the fifth largest aluminum company in the world. Degree in Economics & Finance (Tufts University, USA). 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. Sheikh Hamed bin Zayed Al Nahyan: ADIA 2013 Overview - WAM", "Abu Dhabi Investment Authority Director Jauan Al Dhaheri Dies", "Sheikh Khalifa honours Emiratis for their service to the UAE - The National", "ADIA at 40: UAE Central Bank Chairman says fund has preserved and grown Abu Dhabi's capital", "First American Corp. V. Al-Nahyan, 948 F. Supp. MSc International Securities Investment and Banking (University of Reading, UK) The Bank is committed to sound corporate governance practices. The assets of the fund are managed by the executive management team. Mohammed Habroush Al Suwaidi H.E. Dr. Al Jaber has initiated a program of increased efficiencies, strengthened ADNOCs overall performance and fostered a more commercial mindset. Each asset class has its own fund managers and in-house analysts covering it. As Chairman of the Board, H.H. Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. Managing Director H.H. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. Purpose Powering a thriving future by efficiently providing sustainable and reliable energy and water to unleash the unlimited potential of people and places. The IAG also oversees and conducts the Banks internal audit function. The Bank is subject to five main sources of regulation and supervision: Directors' remuneration is set annually by the Board following delegation from the Bank's shareholders. 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. The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) . Site Advisory: Fraud Warning; . The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. 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. Learn more. 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. Sheikh Mohammed bin Rashid Al Maktoum. In 2008, ADIA co-chaired the International Working Group of 26 sovereign wealth funds that produced the "Generally Accepted Principles and Practices of sovereign wealth funds" (known as the Santiago Principles). Although the IAG conducts audits on all of the Banks units, the frequency of internal audits carried out with respect to each of the Banks units depends on the inherent risk of that unit and its related control risk evaluation.
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