abu dhabi investment authority board of directors

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 EIA was established in 2007 through Federal Decree Law No. 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 According to the Sovereign Wealth Fund . The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. 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. Last edited on 23 February 2023, at 20:27, Bank of Credit and Commerce International, International Forum of Sovereign Wealth Funds, "Top 100 Largest Sovereign Wealth Fund Rankings by Total Assets", "Gulf sovereign wealth funds among world's least transparent", "Biggest Gulf Wealth Funds Are Faulted for Lagging on Governance", "Cash-Rich, Publicity-Shy, Abu Dhabi Fund Draws Scrutiny", "Money and mystery: Adia unveils its secrets", "Generally Accepted Principles and Practices (GAPP)Santiago Principles", https://www.swfinstitute.org/fund-rankings/sovereign-wealth-fund, "The Abu Dhabi Investment Authority is a Buyer of Hotels Sovereign Wealth Fund Institute", "Abu Dhabi Power to take control of TAQA in asset swap", "Abu Dhabi Investment Authority Publishes 2012 ADIA Review", "Sheikh Ahmed Bin Zayed Al Nahyan: 1969-2010", "H.H. The Board Secretariat maintains a conflicts register that is regularly reviewed by the Nomination, Compensation, HR & Governance Committee. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. Mansour bin Zayed chairs meeting of EIA Board of Directors. Almost every asset class is managed both internally and externally. In addition, the risk management and compliance functions monitor control activities on an ongoing basis. 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. Decree establishes the EIA as sole Federal investment vehicle. 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. Board Member of Cleveland Clinic Abu Dhabi. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi Site Advisory: Fraud Warning; . Number of Board Member and Advisor Profiles 3. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. 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. He has completed a General Management Program from Harvard Business Schools and holds Bachelor in Business Administration with Honours. 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 . 4 of 2007 and amended by Federal Decree Law No. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. 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. Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. H.E Mohamed Hassan Alsuwaidi. As Chairman of the Board, H.H. [12] ADIA also invests in development projects including malls. The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. BSc Computer Information Systems (Bethune Cookman College, USA). 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. 10 The terms and conditions of hard-term and those of regular-term loans in 2013. 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. Our initial core team demonstrated a mixture of international and local investment management skills as well as in-depth industry experience and expertise. 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. in Economics and Politics from Bristol University, and obtained an M.A. 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. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. H.E. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. 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. His Excellency holds a PhD in Economics from Imperial College, London. In July 2020, Dr Al Jaber was appointed Chairman of Emirates Development Bank, a key partner in providing financial services for the sustainable economic and social development of the UAE. 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. Chief Financial Officer, Private Equities Department, Youre viewing 5 of 29 commitments. 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. H.E. 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. 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. Phone Number (971) 241-5000. Devoting his career to progress, bold ideas and teamwork, His Excellency has positioned ADIO to always seek new ideas and challenges in order to promote Abu Dhabi globally. ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. 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. It often buys partial interest ownerships with leading real estate managers. 13 of 2009. [7], ADIA manages a substantial amount of capital, and is one of the world's largest investment funds. 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. 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. 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 his role as Minister of Industry and Advanced Technology, Dr. Al Jaber oversees efforts to further expand the industrial development of the UAE, and in particular promote in country value, leveraging technology as a key enabler, as we enter the Fourth Industrial Age. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). 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. 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). [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. BSc Business Finance (Lewis &Clark College, USA). 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. 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. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. EIA invests into a globally diversified investment portfolio. 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. The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. 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. The Bank provides Directors with opportunities to update and develop their skills and knowledge through external seminars, regular presentations from senior management, and relevant reading materials. Get the full list, Morningstar Institutional Equity Research, Board Member & Analyst, Internal Equities Department, Deputy Chairman of the Board of Directors. Board of directors. Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. Kaltham joined ADIA in 2006 as a Senior Analyst and developed extensive experience of Far East and Asia Pacific markets within external equities. He has more than 16 years of banking experience, having held senior management positions with National Bank of Abu Dhabi and First Gulf Bank. His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Governments Executive Office.