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She has also successfully completed the General Management Program at Harvard Business School. [13], Many of ADIA's investments have decreased substantially since investments were made at market peaks in 2007 and 2008. Investment Leadership Program (ILP) Working at EIA; Media & Resources; . Assistant to the Deputy Director, Colo Dept. 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. A performance evaluation of the Board, Board Committees and individual Directors is conducted on an annual basis. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. BSc Computer Information Systems (Bethune Cookman College, USA). 4 of 2007 and amended by Federal Decree Law No. Click here for Terms of Reference for the Board of Directors. He has also been Chairman of Emirates Financial Services. H.E. H.E. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . It often buys partial interest ownerships with leading real estate managers. The Board's Audit Committee ensures the implementation of regulations, policies and procedures through all Bank departments aimed at mitigating identified risks and safeguarding the interests of the Bank and its shareholders. Abu Dhabi Fund for Development 30 6 European Investment Bank 70 14 Japan International Cooperation Agency 184 36 Government and/or Nepal Electricity Authority 71 14 Total 505 100 Source: Asian Development Bank estimates. Kanoo has been investing on a personal and company level since 1991. 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. 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. 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. Aysha Al Hallami does not hold any external directorships. 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. 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. | Advanced search Governance - ADIA PDF Report and Recommendation of the President to the Board of Directors 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. 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. Abu Dhabi Investment Group (ADIG) is the investment arm of Bin Aweidha Holding and based in Abu Dhabi. H.E. Sheikh Mohammed bin Khalifa bin Zayed Al Nahyan H.E. Mubadala Infrastructure Partners Limited, Chairman (2008), UAE, Cleveland Clinic Abu Dhabi LLC, Non-Executive Director (2010), UAE, GlobalFoundries Inc, Non-Executive Director (2012), USA, Mubadala Capital, Non-Executive Director, (2021), UAE, Borealis AG, Non-Executive Director (2020), Austria, Nova Chemicals Corporation, Non-Executive Director (2021), Canada, Aabar Investments PJSC, Non-Executive Director (2017), UAE, Abu Dhabi Retirement Pension & Benefits Fund (Operating Company), Non-Executive Director (2019), UAE, CEPSA - Compaa Espaola de Petrleos S.A., Non-Executive Director, Non-Executive Director (2019), Spain, OMV AG, Non-Executive Director (2021), Austria, International Petroleum Investment Company, Non-Executive Director, UAE, Yas Holding LLC, Non-Executive Director (2021), UAE. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. 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. Al Badi has more than 35 years of experience in the government and private sector. Abu Dhabi Investment Authority - Investments, Portfolio & Company Exits [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]. 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. Abu Dhabi economy to benefit from new sustainability and renewable 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. Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. Site Advisory: Fraud Warning; . is also the former Director General of the Executive Office of H.H. 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. 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. Board Of Directors - Abu Dhabi Pension Fund Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. Khalid Deemas Alsuwaidi was appointed by Abu Dhabi Investment Council (ADIC) to join the ADCB Board of Directors in March 2009. Contact. Chairman of the Board of Directors of Al-Ghaith Trading and Contracting Co. LLC. Saeed Almazrouei is the Deputy Platform CEO, Direct Investments, at Mubadala Investment Company PJSC. 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. Emirates Investment Authority (EIA) is the only Sovereign Wealth Fund of the Federal Government of the United Arab Emirates. Sheikh Mansour bin Zayed Al Nahyan, How satisfied are you with the overall experience on our website? 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. Playing a role in bettering peoples lives is a great instigator for doing what he does. Even today, investment in short-term paper remains the strategy for the vast majority of countries. ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). 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). 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 . Furthermore, the UAE Minister of Economy, in his previous post, took part in the unveiling of the Hatta Economic Zone development project and the relaunching of the Mohammed Bin Rashid Center for Leadership Development. According to the Bank's articles of association, all Directors are required to seek re-election by shareholders every three years. 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. This is a profile preview from the PitchBook Platform. 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. BOD | Al Ramz - Al Ramz Corporation PJSC - WE LIVE BY OUR WORD We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture. He is the Founding Member and Chairman of AlNowais Investments. Air Arabia Abu Dhabi is Etihad Airways' first major investment, a change from its long-held relationship strategy of airline equity partnerships. The Banks internal controls over financial reporting include policies and procedures that (i) are designed to ensure maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Bank; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles, and that receipts and expenditures of the Bank are being made only in accordance with authorizations of management and directors of the Bank; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Banks assets that could have a material effect on the financial statements.