The Board of Directors (the "Board") is the Bank's principal decision-making forum. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. 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. 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. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . 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. 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. All rights reserved. H.E. [13] 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. 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 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. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. Staff. All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. Abu Dhabi Investment Authority (ADIA) is a public institution established in 1976 by the Government of the Emirate of Abu Dhabi as an independent government investment institution. 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. The Chairman's main responsibilities include: The day to day management of the Bank has been delegated by the Board to the GCEO and the senior management team. Vision To provide the clean power and water that governments, businesses and consumers need for a sustainable and successful life Mission Be a low carbon power and water champion Our Values Overview We are the Abu Dhabi Investment Office - ADIO. It periodically reviews and monitors compliance with the Group's overall risk appetite and makes recommendations thereon to the Board. 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 Bank's Board of Directors comprises 11 Directors - majority of which are independent, non-executive Directors elected or appointed by the Bank's shareholders. Mr. Al Darmaki received a B.S. 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 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. Learn more. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . . Begins to serve as advisor to Cabinet on key assets and corporate governance. The Bank's policy is to, so far as possible, engage in transactions with related parties (including Directors) only on arm's-length terms. Mohammed Habroush Al Suwaidi H.E. 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. It often buys partial interest ownerships with leading real estate managers. In addition, an external consultant will be appointed to independently evaluate the performance of the Board, Board Committees and individual Directors at least once every three (3) years. 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). In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . 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. BSc Business Sciences, Finance (Zayed University, UAE). 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. 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. Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. [1], ADIA's operations have been characterized as secretive and opaque. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. Board papers are delivered at least 3 business days before each Board meeting. in International Studies from the John Hopkins University. We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. Phone Number (971) 241-5000. ADIAs investment departments are responsible for building investment portfolios within the parameters set for them through the asset allocation process. 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. Experienced Specialist with a demonstrated history of working in the investment management industry. 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. Kanoo has been investing on a personal and company level since 1991. 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. Contact Email dg_dgm@yahoo.in. Shubhrawpratap Dasgupta Advisor Jan 5, 2017. Mr. Al Badi has more than 35 years of experience in the government and private sector. She has also successfully completed the General Management Program at Harvard Business School. 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. [10] Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. Managing Director H.H. Thomas Arnold Board Member. The roles of the Chairman and the GCEO are separate and each is held by a suitably experienced individual. 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. ADIA has robust governance standards with clearly defined roles and responsibilities that ensure accountability. 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. However, improvement of control activities is an ongoing process at ADCB that includes identification, evaluation and management of significant risks faced by the Bank. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. He has led several strategic transformation projects, developing high performance businesses to achieve sustainable growth. BSc Civil Engineering (Northeastern University, USA). Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July . It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. She is an integral part of the team responsible for selecting, building and managing a portfolio of funds and relationships in Europe, Middle East & Africa. 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. Descendant of Bin Aweidha Family which played prominent role in founding UAE Politically and Economically. H.E. 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. 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. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. Prior to his appointment, H.E. All three functions cover all banking activities in general and key risk areas in particular. Khalifa Al Kindi is a Managing Partner and Co-Founder of Abu Dhabi-based Liwa Capital Advisors. 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. 4 of 2007 as amended by Federal Decree Law No. 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. Mr. Mohamed Hadi Al Hussaini is the Chariman of Emirates Integrated Telecommunications Co. PSJC, and currently he sits on the board of Emirates NBD, Emirates Islamic Bank and Dubai Refreshments Company. 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. 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. Al Gergawi is also the Co-chairman of the Global Future Councils, a forward-looking think tank in cooperation with the World Economic Forum. ADIAs Managing Director has responsibility for implementing ADIAs strategy and its investment and operational activities. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. Through strategic investments, AD Ports has grown to become a full service transportation hub, leveraging Abu Dhabis location at the nexus of three continents, and making significant contributions to the UAEs economy and diversification efforts. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. Under his leadership, ADIO has launched international offices around the world. H.E. 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. 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. Mansour bin Zayed . As Chairman of the Board, H.H. 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. To read relevant policy please see below: The Board Secretariat delivers Board papers to the Board by means of a secure iPad application. Board of Directors Corporate Governance Board of Directors H. E. Khaldoon Khalifa Al Mubarak CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR) Read more H. E. Hussain J. AlNowais VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR) Read more Khaled H. Alkhoori INDEPENDENT, NON-EXECUTIVE DIRECTOR Read more Khalid Deemas Alsuwaidi NON-EXECUTIVE DIRECTOR 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. However, ADIA's ratio of third-party fund managers is being actively managed. Feedback. 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. . 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. 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. Combining extensive experience in both the public and private sector, he was responsible for overseeing, developing and enhancing strategic geopolitical, social and economic partnerships with several nations. 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. | Advanced search Board Of Directors; CEO's Message; Staff. He is a UAE national, coming from a prominent family of businessmen primarily engaged in trading sector businesses. 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. H.E. The assets of the fund are managed by the executive management team. The principal activities of the company are dealing Managing Investment and operating funds, in addition to Arranging, Advising and Custody. ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. 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. The Board of Directors is the highest authority within the Council and is composed of a Chairman, Managing Director and other board members, all of whom are senior government officials appointed by Decree from the Ruler of . Listen to the content of the page by clicking on listen below CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). 2023 PitchBook. Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. ADIA does not seek to manage or take an operational role in the companies in which it invests. He is a member of the High-Level Panel on Digital Cooperation, a panel of independent experts advising the United Nations Secretary-General on technological developments and technology related issues. 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. 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. 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. Andrew Kripke Director, Portfolio Manager - US Team. Aysha Al Hallami does not hold any external directorships. The Council started its operations in April 2007 and is responsible for investing part of the government's surplus financial resources through a globally diversified investment strategy, targeting positive capital returns through an expansive portfolio of highly diversified asset classes and active . 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. How satisfied are you with the overall experience on our website? Board of Directors Board of Directors Management Team Committees Documents Investors Overview About Us Financial Information Bond Information Share Information Calendar Analyst Coverage Corporate Governance Board of Directors Management Team Committees Documents Company Announcements IR Contact Investor FAQs The Bank's policy is to, so far as possible, only engage in transactions with related parties (including Directors) on arm's length terms. Collectively, the Board possesses knowledge, experience and skills appropriate for the Bank. 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. The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. H.E. In addition, the risk management and compliance functions monitor control activities on an ongoing basis.