Board Of Directors; CEO's Message; Staff. 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. 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. 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. 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. Shareholder support He also chairs the World Government Summit, a global platform focused on shaping the future of governments. Mr. Al Badi holds a Bachelors degree in International Relations from Lewis & Clark College. 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 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. All rights reserved. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. 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. Group 42 is an artificial intelligence and cloud computing company that was founded in Abu Dhabi, United Arab Emirates in 2018. EIA invests into a globally diversified investment portfolio. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. H.E. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. Tailored induction programmes are arranged for all newly appointed Directors. 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. Amr Al Menhali was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. In particular, it sets the goals, strategies and policies of the Bank. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. They are appointed by Emiri decree. This includes both developed and emerging markets, EIA has investments in the Americas, Europe, Asia and the Middle East. 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. Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. 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. Dr. Al Jaber was appointed to the UAE cabinet in 2013, where he served as a Minister of State of the United Arab Emirates until July 2020. Feedback. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July . H.E. The Board of Directors comprises a Chairman, Deputy Chairman, Managing Director and board members who are appointed by an Emiri Decree of the Ruler of the Emirate of Abu Dhabi. 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. In addition, he also served as Chairman of Waha Investment PrJSC, Waha Land LLC and Anglo Arabian Healthcare LLC). In 2006, between 70% and 80% of the organization's assets were managed outside with an aim to bring that down to between 60% and 70%. 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. 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. 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. Managing Director H.H. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. BSc Civil Engineering (Northeastern University, USA). In addition, the risk management and compliance functions monitor control activities on an ongoing basis. Number of Exits 23. ADIA is required to invest these funds in such a way to generate sustainable long-term returns, and to return funds to the Government of Abu Dhabi, as needed. In addition, the Board Secretariat works with various external providers to source suitable tailored training sessions. 2023 Gulf Capital. MSc Civil Engineering (Northeastern University, USA) Staff. Reporting to H.H., the Managing Director his current responsibilities at ADIA include asset allocation, portfolio management and strategic decisions. Even today, investment in short-term paper remains the strategy for the vast majority of countries. United Arab Emirates, Emirates Investment Authority All Rights Reserved 2023, EIA launches strategy aimed at achieving UAEs development goals, Mansour bin Zayed chairs meeting of EIA Board of Directors, Mansour bin Zayed chairs EIA board meeting. Carlos Obeid joined the ADCB Board of Directors in 2019. For over 50 years, the Group has played . The current board dates back to the April 2010 reshuffle (Emiri decree n4/2010) and it was fully renewed April 2013. Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. ADIA Lab, the independent research institute dedicated to basic and applied research in data and computational sciences, commenced operations today, the 51st National Day of the UAE.As part of its launch, the Lab announced the composition of its Advisory Board, the details of its first academic collaborations, and launched a US$ 100,000 research award. 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. Aysha Al Hallami does not hold any external directorships. 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. Al Hussaini holds a Masters degree in International Business from Webster University in Geneva, Switzerland. To develop a constructive relationship with the GCEO and to manage his performance. Overview We are the Abu Dhabi Investment Office - ADIO. Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. All three functions cover all banking activities in general and key risk areas in particular. The Board of Directors are responsible for determining the Bank's strategic direction. He has guided ADNOC through a number of strategic firsts, including entering the global capital markets for the first time, completing the first ever IPO of an ADNOC business (ADNOC Distribution) and attracting significant FDI from strategic and private equity investors to stimulate smart growth across ADNOCs upstream, midstream and downstream value chain. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. 17 May, 2021. ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. 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 Bank's Board of Directors comprises 11 Directors - majority of which are independent, non-executive Directors elected or appointed by the Bank's shareholders. 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. 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. Monitoring by the Central Bank is undertaken by way of regular inspections of banks and their records and the requirement for regular submission of data including credit data and anti-money laundering measures. 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. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. Abu Dhabi Investment Group (ADIG) is the investment arm of Bin Aweidha Holding and based in Abu Dhabi. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. Our Corporate and Investment Banking group operates a client driven model with local and international expertise, designed to ensure our clients are set up for success and grow stronger wherever they operate . Andrew Kripke Director, Portfolio Manager - US Team. The Abu Dhabi Investment Council is an investment arm of the Government of Abu Dhabi. Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. 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. 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. 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. The EIA was established in 2007 through Federal Decree Law No. MSc Business Administration, minor in Management Information Systems and Strategic Planning (Widener University, USA) Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. He also sits on a number of boards, including AXA and Emirates Post Group. Carlos Obeid is the Group Chief Financial Officer of Mubadala Investment Company PJSC and is responsible for managing the organisations Business Finance including Treasury and Investor Relations, Financial Planning and Business Performance, and Financial Governance and Reporting. Board Of Directors - EIA H.H. 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. 13 of 2009. . The firm carries out its investment program independently and without reference from the Government of Abu Dhabi. [5] The goal was to invest the Abu Dhabi government's surpluses across various asset classes, with low risk. Also, he is a graduate of the UAE Government Leaders Program and Mohammed Bin Rashid Center for Leadership Development. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. Any additional work proposed to be performed by the external auditor is reviewed by and approved by the Audit Committee on an item-by-item basis. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. 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. MSc Business Administration (INSEAD) 4 of 2007 as amended by Federal Decree Law No. Feedback. 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.