Contact. VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. Abu Dhabi Investment Authority | International Forum of Sovereign The Boards Nomination, Compensation, HR & Governance Committee is responsible to ensure that independent directors remain independent on a continuous basis. H.E. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. 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. Al Hussaini has widespread professional experience across the banking, finance, real estate and investment sectors. H.E Mohammed Al Shuwaidi holds a B.Sc. 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. His memberships allow him to actively support the development of priority sectors in the country such as the Golden Visa initiative, which seeks to attract talented individuals from across the world. The IAG performs its function in accordance with a risk-based audit methodology. [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. ADIAs assets are not classified as international reserves. Skilled in Real Estate & Private Equity Risk Due Dilligence. 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. To develop a constructive relationship with the GCEO and to manage his performance. As Chairman of the Board, H.H. Al Gergawi also holds the position of Deputy Chairman of the UAEs Ministerial Development Council, as well as Emirates Investment Authority, the UAE Federal Governments sovereign wealth fund. ADCB has implemented a Directors' conflicts of interest policy. 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. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. 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 . Since being appointed Group CEO of ADNOC in 2016, Dr. Al Jaber has spearheaded a rapid and comprehensive transformation of the company at the direction of the UAE leadership. Director at Global Finance & Capital Ltd. Board Member of United Capital (ex UBA Capital). Mansour bin Zayed chairs meeting of EIA Board of Directors. [12] ADIA also invests in development projects including malls. 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. 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. Board of Directors | Abu Dhabi Investment Group BSc Business Finance (Lewis &Clark College, USA). Mishal Kanoo tries to help people reach their professional dreams. 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. 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. Board of Directors | Abu Dhabi Finance P.P.C Number of Board Member and Advisor Profiles 3. [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). [1], ADIA's operations have been characterized as secretive and opaque. 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. Strategy and management - setting the Bank's long-term objectives and commercial strategy, and monitoring management's performance; Structure and capital - approving changes relating to capital structure, corporate structure and management and control structures; Financial reporting, planning and controls - approving interim and final results, annual report and accounts, dividends, business plans, budgets (including funding plans) and forecasts, significant changes in accounting policies or practices, remuneration of and appointment or removal of auditors and other material accounting policies; Internal controls - setting and monitoring internal controls; Risk - setting the Bank's risk strategies and appetite and monitoring the Bank's approach to material risks; Major transactions - approving major capital investments and projects, by reason of materiality or size, including acquisitions, mergers, disposals, and material contracts not in the ordinary course of business; Board and other appointments - appointment or removal of the GCEO, the Board Secretary and other senior management, succession planning, terms of reference and membership of Board Committees, annual performance review of directors and Board Committees; GCEO - annual evaluation and supervision of the GCEO; Remuneration - determining policy for remuneration of directors and senior executives, creation and approval of share incentive plans and other remuneration schemes; and. His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Government. 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. Board of Directors | FAB - UAE - Bank (FAB In addition, Dr. Al Jaber served as Chairman of the Abu Dhabi Ports Company from 2009-2019. [13] Member of the Board of Directors of the Commercial International Bank, Deputy Director of the Excellent Financial Services company, Financial and strategic advisor Noor Bank, Member of the Board of Directors of the Commercial International Bank (CBI), Head of the Institutional Performance Measurement Department within the Strategic Planning Sector, Abu Dhabi Municipality. [12] ADIA also invests in development projects including malls. Khaled H. Alkhoori was elected by ADCB shareholders to join ADCBs Board of Directors in April 2012. ADIA's Board of Directors meets periodically, as required for the establishment and review of ADIA's strategic policy, as part of its oversight of ADIA. 2023 Gulf Capital. Strong business development professional with a Claritas Investment Certificate from CFA Institute & Operational Risk Management Certificate from Chase Coopers. Mr. Mishal Kanoo is one of the most iconic business figures in the Middle East and has a reputation as a futurist and strategist with a strong track record in forecasting economic developments in the region. Board Of Directors; CEO's Message; Staff. Beginning his career at the Abu Dhabi National Oil Company, H.E. [8] Due to its size, the fund has been influential in international finance. 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. Reporting to H.H., the Managing Director his current responsibilities at ADIA include. Kaltham joined ADIA in 2006 as a Senior Analyst and developed extensive experience of Far East and Asia Pacific markets within external equities. For over 50 years, the Group has played . Mohammed Habroush Al Suwaidi H.E. [4], The operations of ADIA have historically and to the present been secretive and opaque. In addition, he also served as Chairman of Waha Investment PrJSC, Waha Land LLC and Anglo Arabian Healthcare LLC). Andrew Kripke Director, Portfolio Manager - US Team. Overview We are the Abu Dhabi Investment Office - ADIO. The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. With a joint MBA from London Business School and Columbia, he then joined Mubadala in the UAE sovereign wealth sector. Board Of Directors; CEO's Message; Staff. Any proposals for changes are considered by the Nomination, Compensation, HR & Governance Committee prior to obtaining Board and, if necessary, shareholder approvals. Compliance with anti-money laundering procedures and internal training in such procedures is also developed and administered by the Group Compliance department. They are appointed by Emiri decree. Reporting to H.H., the Managing Dir. H.E. 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 . Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. H.E. 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. We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. All rights reserved. Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. . 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. [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]. Mansour bin Zayed . H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. He has also been Chairman of Emirates Financial Services. 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. However, ADIA's ratio of third-party fund managers is being actively managed. Phone Number (971) 241-5000. Directors are eligible to receive, and have received, loans from the Bank. Minister of Federal Supreme Council Affairs, Executive Council Member Government of Ajman, Knowledge and Human Development Authority Government of Ajman, Board Member of the Commercial Bank International (CBI), Bin Aweidha Corporation Holding Managing Director, Market Makers Financial Advisory Managing Director, Founder and CEO of Liberal Lawyers and Legal Consultants, Member of the Board of Directors of World Investments P.S.C, Partner in Market Experts Financial Brokerage Company (LLC), Partner and Director of Gate Business Investment (LLC), Founder and Director of Al Madina Co.(Stock and Bond Broker) LLC, Member of the Board of Directors of Experience Gate Company for Management Consulting (LLC), Founder and Chairman of the Abu Dhabi Tahseel Company (LLC), Member of the Association of Emirates Safer Internet Society, Board Member of Agricultural Trading & Development Co. Ltd, Director General Airport Free Zone Authority, Board Member of UAE Football Association, Elected Member of Federal National Council (U.A.E Parliament), Member Of Arab Parliament (Cairo & Damascus), Board Member of UAE Insurance Authority, Vice Chairman of the Board of Directors of Al-Ghaith Holding Company (private shareholding), Member of the Board of Directors of Al Ain National Insurance Company, Member of the Board of Directors of the National Marine Dredging Company, Member of the National Consultative Council of Abu Dhabi, Member of the Abu Dhabi Tawteen Board of Directors, Honorary member of the Al Ain Sports and Cultural Club, Chairman of the Board of Directors of Prestige Jet Private Aviation Company, Chairman of Makasib Islamic Financial Services Board. Aysha Al Hallami does not hold any external directorships. Where Abu Dhabi Investment Council intends to appoint a new Director, it is required to consult with the Committee in advance of such appointment. BSc Business Management (University of Sussex, UK). 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. Board of directors. 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. Conor Boden . Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. H.E. Sheikh Zayed bin AweidhaMANAGING DIRECTOR, Dr. Ahmed Abdulla Ghaith Al SuwaidiBoard Member. To read relevant policy please see below: The Board Secretariat delivers Board papers to the Board by means of a secure iPad application. Kanoo has been investing on a personal and company level since 1991. The roles of the Chairman and the GCEO are separate and each is held by a suitably experienced individual. 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. Saeed Almazrouei was appointed to the ADCB Board of Directors in 2019. Sheikh Mohammed bin Khalifa bin Zayed Al Nahyan H.E. Member of the Libyan Reconciliation Commission. To facilitate this role, the Board Secretariat has full visibility of all management committees and activities. Under his leadership, ADIO has launched international offices around the world. 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. General Information Description Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. MSc Finance & Banking (Cass Business School, City University, UK) He was also responsible for all Treasury activities including Mubadalas bond issuances and project financing. He has more than 16 years of banking experience, having held senior management positions with National Bank of Abu Dhabi and First Gulf Bank. 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. [10] ADIA is one of the largest sovereign wealth funds in the world. Abu Dhabi Investment Authority 's most notable . The Managing Director chairs the Investment Committee, which includes among its members the Executive Directors of all investment departments. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. Its primary directive is to manage the sovereign wealth of the UAE by investing in a diversified portfolio of assets in key economic sectors and industries with the aim of delivering sustained financial gains for the UAE. BSc Civil Engineering (Northeastern University, USA). ABU DHABI, Under the patronage of H.H. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. 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. 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. 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. However, improvement of control activities is an ongoing process at ADCB that includes identification, evaluation and management of significant risks faced by the Bank. Our support department structure has developed over many years to ensure that the business continues to operate efficiently at all levels in pursuit of ADIAs investment goals.
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