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Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. Group 42 is an artificial intelligence and cloud computing company that was founded in Abu Dhabi, United Arab Emirates in 2018. Lecturer & Head of Legal Affairs, High Commercial Institute, Kuwait, Published books on law that are adopted as text books in UAE and Kuwait University respectfully, Legal Advisor and Head of Legal Office; Ministry of Economy & Commerce, UAE, Legal Advisor of the Executive Council of the Emirate of AUH, Owner of Ghanayem Legal & Management Consultancy EST, Treasurer & Account Officer in Charge of Citibanks Financial Institutions in Dakar, Vice President Citibank Private Bank, Geneva, Managing Director Sahara Financial Management Services, Regional Director of Ecobank for Middle East, North Africa & India, Vice Chairman at Signature Africa Ventures. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. Investments ADIA manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories. 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. [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. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. 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. 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. Contact Email dg_dgm@yahoo.in. The Board maintains awareness of the other commitments of its Directors and senior management. Our Objectives. His career in asset management began at Abu Dhabi Investment Authority (ADIA) in 1983, where he ultimately served as Deputy Managing Director from 1997 to 2007. 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. 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. Assistant to the Deputy Director, Colo Dept. 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. 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. Mr. Quarta has been a Partner at CD&R for 21 years and is chairman of CD&R Europe. Air Arabia Abu Dhabi is Etihad Airways' first major investment, a change from its long-held relationship strategy of airline equity partnerships. Mr. Al Mahmood has held senior roles at a number of companies including the Abu Dhabi Investment Authority (ADIA), and was also Chief Executive Officer, Managing Director and a board member of the development and investment company Al Qudra Holdings. These principles were created to demonstrate to home and recipient countries and the international financial markets that sovereign wealth funds had robust internal frameworks and governance practices and that their investments were made only on an economic and financial basis. He has also been Chairman of Emirates Financial Services. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. 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. ABU DHABI, H.H. 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. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi As Chairman of the Board, H.H. of Corrections, Colorado Springs, CO, USA. BSc Business Finance (Lewis &Clark College, USA). She has also successfully completed the General Management Program at Harvard Business School. ADIA is required to invest these funds in such a way to generate sustainable long-term returns, and to return funds to the Government of Abu Dhabi, as needed. 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. is also the former Director General of the Executive Office of H.H. 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. The $7 billion investment in Citigroup has lost approximately 90% of its value as of 26 November 2009, 2 years after it acquired a sizable stake in the bank. All rights reserved. For over 50 years, the Group has played . ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. With a joint MBA from London Business School and Columbia, he then joined Mubadala in the UAE sovereign wealth sector. 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. Experienced Specialist with a demonstrated history of working in the investment management industry. 4 of 2007 as amended by Federal Decree Law No. Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . Andrew Kripke Director, Portfolio Manager - US Team. The Board of Directors are responsible for determining the Bank's strategic direction. H.E. The Board of Directors (the "Board") is the Bank's principal decision-making forum. The Boards Nomination, Compensation, HR & Governance Committee is responsible to ensure that independent directors remain independent on a continuous basis. 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). Decree establishes the EIA as sole Federal investment vehicle. Please refer to ADCBs annual report for further details on Directors remuneration. 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. in Economics. In his capacity as Minister of Cabinet Affairs and The Future, Al Gergawi led the development of the UAE National Agenda and Future Foresight Strategy. 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 ABU DHABI, H.H. The roles of the Chairman and the GCEO are separate and each is held by a suitably experienced individual. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. She became an Investment Manager in 2012. H.E. Its responsibilities also include reviewing the appropriateness and effectiveness of the Group's risk management systems and controls, reviewing the outcome of stress tests and the Bank's stress-testing methodology, overseeing the Management Risk Committees and ensuring that the Bank's risk governance is supportive of prudent risk-taking at all levels in 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 2020. [4], The operations of ADIA have historically and to the present been secretive and opaque. H.E. In addition, he also served as Chairman of Waha Investment PrJSC, Waha Land LLC and Anglo Arabian Healthcare LLC). All three functions cover all banking activities in general and key risk areas in particular. 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. Overview We are the Abu Dhabi Investment Office - ADIO. 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. Ms. Ghobash currently serves as a board member of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution), Emirates Telecommunications Group Company Etisalat, Emirates Development Bank and Zayed University. A seasoned banker with strong leadership skills across all facets of the business and with extensive expertise in strategy, finance, risk, investment, credit and corporate governance. BSc Electrical Engineering (American University of Beirut). . Feedback. The UAE Minister of Economy holds a Bachelors degree in Civil Engineering from the University of Sheffield in the UK. The most relevant comments from the evaluation are presented to the Board, in the form of an action list, and its implementation is monitored by the Board's Nomination, Compensation, HR & Governance Committee. The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. 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. Member of President Clinton America 2000 Task Force, Washington, DC., USA, Acting Chairman and Group CEO of Midmar Holding, Johannesburg, South Africa. In addition, he serves as a member of the Board Directors in Emirates Investment Authority. Number of Exits 23. Dr. Al Jaber has initiated a program of increased efficiencies, strengthened ADNOCs overall performance and fostered a more commercial mindset. Emirates Investment Authority (EIA) is the only Sovereign Wealth Fund of the Federal Government of the United Arab Emirates. Kaltham joined ADIA in 2006 as a Senior Analyst and developed extensive experience of Far East and Asia Pacific markets within external equities. BSc Business Management (University of Sussex, UK). Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. H.E. Mr. Al Badi has more than 35 years of experience in the government and private sector. 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. According to federal laws and the Bank's articles of association, Directors may not receive any remuneration in respect of a year where the Bank does not achieve net profits. Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. He has prioritized the adoption of breakthrough technologies including AI, Big Data and Blockchain to ensure ADNOC stays ahead of global energy demand and remains a key contributor 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. However, all loans are made on arms' length terms. 10 The terms and conditions of hard-term and those of regular-term loans in 2013. H.E Mohammed Al Shuwaidi holds a B.Sc. Hussain Jasim Naser Al Nowais joined the ADCB Board in 2019. H.E. Board Of Directors - EIA H.H. Board Member of Cleveland Clinic Abu Dhabi. Advisor to the Nigerian Minister of Communications. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. H.E. The Committee has agreed a list of skill requirements necessary for the proper functioning of the Board as a whole. [4][2], The fund is a member of the International Forum of Sovereign Wealth Funds. It often buys partial interest ownerships with leading real estate managers. 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. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture. In 2012, he was nominated and elected by ADCB shareholders to act as a Director, and in March 2015, he was again nominated and elected by ADIC to act as a Director. The external audit partner attends meetings of the Audit Committee by invitation and, if so required, attends the Board meetings when the annual and quarterly reports are approved and signed, and otherwise when needed. Al Mubarak held a number of positions at Tawazun Economic Council, formerly known as UAE Offsets Group, before assuming his current portfolio of responsibilities. Click here for Terms of Reference for the Board of Directors. Degree in Economics & Finance (Tufts University, USA). His Excellency holds a PhD in Economics from Imperial College, London. Mr. Quarta graduated from the College of the Holy Cross. This includes both developed and emerging markets, EIA has investments in the Americas, Europe, Asia and the Middle East. Furthermore, he is a professional and motivational speaker, writes articles for local and regional media, is published in business journals on a regular basis, and holds chief positions as Chairman/Director of various reputable companies, including Gulf Capital, KHK & Partners Limited, Dalma Capital, Johnson Arabia LLC and KAAF Investments. While the Board's Audit Committee oversees and reviews the Banks compliance policies and their implementation, the Group Compliance department is responsible for monitoring compliance with local regulatory requirements. Abu Dhabi Investment Authority 's most notable . 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. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. Al Ramz Corporation, one of the most active brokerages and investment companies in the UAE, trading member and clearing member in Dubai Financial Market DFM, Abu Dhabi Exchange and Nasdaq Dubai for equities, bonds, SUKUK and futures, also a market maker and liquidity provider in the local three markets. However, ADIA's ratio of third-party fund managers is being actively managed. In particular, it sets the goals, strategies and policies of the Bank. The Bank complies with the independence requirements of the Central Banks Corporate Governance Regulation and Standards for Banks (Circular No.89/2019 dated 18th July, 2019) and the Securities & Commodities Authority (SCA) Chairmans Resolution No.3/TM of 2020 Regarding the Approval of the Public Join-Stock Companies Governance Guide. Al Gergawi is also the Co-chairman of the Global Future Councils, a forward-looking think tank in cooperation with the World Economic Forum. 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. to the UAEs economy. It has overall responsibility for leading, supervising and controlling the Bank and is accountable to the shareholders for creating and delivering sustainable shareholder value through its guidance and supervision of the Bank's business. The Central Bank the Central Bank provides prudential supervision of banking activities. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. 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. 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. He was previously elected by ADCB shareholders to join the ADCB Board of Directors in March 2009 and was re-elected by the ADCB shareholders to join the ADCB Board of Directors in 2022. It periodically reviews and monitors compliance with the Group's overall risk appetite and makes recommendations thereon to the Board. Board Of Directors; CEO's Message; Staff. Established in 2007, the EIA has actively sought unique investment opportunities locally, regionally and internationally, focusing on investing in asset classes that will help strengthen and diversify the UAE economy. 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. Beginning his career at the Abu Dhabi National Oil Company, H.E. She also has an MBA in International Finance and is a member of the Institute of Management Accountants, IMA. As Chairman of the Board, H.H. ABU DHABI, Under the patronage of H.H. [6][citation needed], In the Bank of Credit and Commerce International scandal of the 1990s, ADIA reportedly lost hundreds of millions of dollars. Under his leadership, ADIO has launched international offices around the world. H.E. 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. [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). 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. Between 1981 and 2014, he led strategic positions in the government of United Arab Emirates including Minister of Health, Minister of Oil and Natural Resources, Vice President of OPEC, Chairman of the Executive Board of the Arab Ministers of Health, Establisher and Chairman of the Executive Board of the Federal Environment Agency, Chairman of the Executive Board of Emirates Petroleum, Member of the Advisory Board of Eastern Mediterranean Regional Organization World Health Organization, Member of the Board of Trustees of Emirates Foundation, a philanthropic organization set up by the Government of the Emirate of Abu Dhabi, Member of the Board of Abu Dhabi Council for Economic Development an economic policy advisory council established by law in the Emirate of Abu Dhabi.

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