The Board monitors the performance of the Bank's businesses and guides and supervises the Bank's management. H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. Feedback. 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 . There is a clear division of responsibilities between the respective roles and responsibilities of the Chairman and the GCEO. H.E. Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. 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. The Board has adopted a rolling agenda to ensure that each of its responsibilities is satisfied on a periodic basis, and considers other agenda items on an 'as required' basis. The IAG also oversees and conducts the Banks internal audit function. BSc Electrical Engineering (American University of Beirut). Ms. Ghobash currently serves as a board member of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution), Emirates Telecommunications Group Company Etisalat, Emirates Development Bank and Zayed University. Director at Global Finance & Capital Ltd. Board Member of United Capital (ex UBA Capital). Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. 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 To facilitate this role, the Board Secretariat has full visibility of all management committees and activities. Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. [1], ADIA's operations have been characterized as secretive and opaque. His Excellency earned his stripes in professional finance at Citi Bank in London. Hussain Jasim Naser Al Nowais joined the ADCB Board in 2019. His Excellency holds a PhD in Economics from Imperial College, London. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. of Corrections, Colorado Springs, CO, USA. In 2013 and 2014 we were entrusted with the custody of three additional strategic assets Emirates Post, Emirates Transport and Al Masraf bank. Get the full list, Youre viewing 5 of 8 board members. PitchBooks data visualizations help you see a limited partners commitmentsshowing a breakdown of activity by fund type and region, complete with performance metrics. Ensure that effective measures are in place to safeguard the Banks assets; Ensure proper accounting records and reliable financial information by procedures designed to avoid or reduce risks and ensure compliance with applicable laws and regulations; Ensure that an adequate and effective system of internal controls and procedures is established and maintained; and. Dr. Tariq Bin Hendi was recently the Chief Investment Officer of Group 42 (G42). As a custodian of the Federal assets of the United Arab Emirates, the EIA is mandated to strategically invest funds allocated by the Federal Government to create long-term value for the UAE and contribute to the future prosperity of the country. H.E. 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. The Board maintains awareness of the other commitments of its Directors and senior management. The Board Secretariat actively engages with the Chairman, Committee Chairman and management to ensure that agendas are appropriate and meetings are effective. In addition, the Board Secretariat works with various external providers to source suitable tailored training sessions. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. Al Marri held important positions in the government as a senior, top-ranking official. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. 13 of 2009. 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 . Chairman of the Board of Directors of Al-Ghaith Trading and Contracting Co. LLC. Some of the most recent investments Fatima has led include the following: acquisition of KMAC, the second largest Taco Bell franchisee in North America; Mubadalas $2.5billion partnership with Silverlake including both an investment in the Silverlake General Partner and an anchor commitment to a new Long-Term Capital Fund. ADIA Lab, the independent research institute dedicated to basic and applied research in data and computational sciences, commenced operations today, the 51st National Day of the UAE.As part of its launch, the Lab announced the composition of its Advisory Board, the details of its first academic collaborations, and launched a US$ 100,000 research award. Mansour bin Zayed . PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) . ABU DHABI, Under the patronage of H.H. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. 4 of 2007 and amended by Federal Decree Law No. Each asset class has its own fund managers and in-house analysts covering it. Khalil Mohammed Sharif Foulathi Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 Fraud Warning Terms & Conditions Sitemap Contact Sheikh Zayed does not hold any external directorships. Mr. Al Badi holds a Bachelors degree in International Relations from Lewis & Clark College. The ministry will also enable better integration between industrial sectors, while embedding advanced technology at the center of the nations industrial base. Our team helps investors and companies of all sizes establish their business, grow and develop in Abu Dhabi. It periodically reviews and monitors compliance with the Group's overall risk appetite and makes recommendations thereon to the Board. Al Gergawi is the Secretary-General of the Mohammed bin Rashid Global Initiatives (MBRGI), a philanthropic foundation that combines under its umbrella over 30 humanitarian and developmental initiatives and entities. Begins to serve as advisor to Cabinet on key assets and corporate governance. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. He is also a board member of the Economic Zones World and Dubai Real Estate Corporation. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. 2023 Gulf Capital. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. Kaltham joined ADIA in 2006 as a Senior Analyst and developed extensive experience of Far East and Asia Pacific markets within external equities. 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. 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. [8] Due to its size, the fund has been influential in international finance. Carlos Obeid joined the ADCB Board of Directors in 2019. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. Almost every asset class is managed both internally and externally. BSc Business Management (University of Sussex, UK). 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. 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. 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. H.E. The IAG performs its function in accordance with a risk-based audit methodology. Any candidate for appointment as a Director must first be considered and approved by the Board's Nomination, Compensation, HR & Governance Committee. 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. 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. 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 . ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. 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. 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. Reporting to H.H., the Managing Dir. 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. 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. 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. Fatima Al Nuaimi was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. 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. Playing a role in bettering peoples lives is a great instigator for doing what he does. All rights reserved. In a short span of time, the EIA has uniquely positioned itself to become an invaluable partner for significant world-class investment opportunities locally, regionally and internationally. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. Contact Email dg_dgm@yahoo.in. Shareholder support The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. 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. Saeed Almazrouei is the Deputy Platform CEO, Direct Investments, at Mubadala Investment Company PJSC. He was also responsible for all Treasury activities including Mubadalas bond issuances and project financing. Establishment of Investment Process and Portfolio Management. For over 50 years, the Group has played . Where Abu Dhabi Investment Council intends to appoint a new Director, it is required to consult with the Committee in advance of such appointment. . The EIA was established in 2007 through Federal Decree Law No. The Bank's policy is to, so far as possible, only engage in transactions with related parties (including Directors) on arm's length terms. ADIAs Managing Director has responsibility for implementing ADIAs strategy and its investment and operational activities. The Board iPad application is also used to provide Directors with access to other relevant information, and induction documentation. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. 17 May, 2021. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. Jan Schuster Portfolio Manager - Private Equity Division. 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 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. Saeed Almazrouei was appointed to the ADCB Board of Directors in 2019. 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. They are appointed by Emiri decree. H.E. 10 The terms and conditions of hard-term and those of regular-term loans in 2013. 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 . ABU DHABI, Under the patronage of H.H. 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 Mohammed bin Rashid Al Maktoum. 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. Reporting to H.H., the Managing Director his current responsibilities at ADIA include asset allocation, portfolio management and strategic decisions. Kaltham is a graduate of the American University in Dubai, specializing in Business Administration. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. 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. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. H.H. Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. The BRC also guides management on risk appetite across sectors, geographies and customer types. 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. Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. He started his career at Abu Dhabi Investment Authority in the year 1982. Fatima Al Noaimi joined Mubadala in 2011 and is currently a Senior Principal on the Mubadala Capital Private Equity team. It will be backed by a major commitment from the Authority. All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. Private Equity and Venture Capital, (Harvard Business School, USA) Al Gergawi is also the Co-chairman of the Global Future Councils, a forward-looking think tank in cooperation with the World Economic Forum. 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. This is a profile preview from the PitchBook Platform. Internal controls are designed to ensure that adequate independent internal checks and balances exist in keeping with the maker-checker or four-eye principle and that the oversight roles are embedded in areas reporting independently to non-originating areas. The Central Bank the Central Bank provides prudential supervision of banking activities. 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 majority of the Directors are UAE nationals, as per the requirements of the Federal Commercial Companies Law and the Bank's articles of association. In addition to this, he is currently a board member in Abu Dhabi Housing Authority and a member of Investment Committee in Sandooq Al Watan.

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