She is also a CFA and CAIA charter holder. Board of Directors - Cleveland Clinic Abu Dhabi Al Marri held important positions in the government as a senior, top-ranking official. In addition, Mr. Quarta is chairman of WPP plc and Smith & Nephew plc. 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. Kaltham is a graduate of the American University in Dubai, specializing in Business Administration. As a listed company, the Bank is subject to the rules and regulations enforced by the Emirates Securities and Commodities Authority and the markets upon which its shares and debt are listed, including the ADX, the London Stock Exchange, the Irish Stock Exchange, the Luxembourg Stock Exchange and the Swiss Stock Exchange. Reporting to H.H., the Managing Director his current responsibilities at ADIA include. About the Abu Dhabi Investment Office Although the IAG conducts audits on all of the Banks units, the frequency of internal audits carried out with respect to each of the Banks units depends on the inherent risk of that unit and its related control risk evaluation. The Board of Directors are responsible for determining the Bank's strategic direction. [2][3][4], In 1967, Abu Dhabi emirate created the Financial Investments Board which operated within its Department of Finance and was responsible for managing the Emirate's excess oil revenues. To read relevant policy please see below: The Board Secretariat delivers Board papers to the Board by means of a secure iPad application. Thoma Bravo Fund XV, L.P. managed by Thoma Bravo, L.P. and Abu Dhabi Number of Exits 23. 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. As Chairman of the Board, H.H. Listen to the content of the page by clicking on listen below CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. 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. H.E. [13], Many of ADIA's investments have decreased substantially since investments were made at market peaks in 2007 and 2008. 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. H.E. Board Member, Ely Lilly Foundation, Indianapolis, IN, USA. 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. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. Board of Directors | Abu Dhabi Investment Group As Chairman of the Board, H.H. 13 of 2009. . 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. These principles were created to demonstrate to home and recipient countries and the international financial markets that sovereign wealth funds had robust internal frameworks and governance practices and that their investments were made only on an economic and financial basis. The Board of Directors of the Emirates Investment Authority consists of a group of distinguished and accomplished individuals, led by His Highness Sheikh Mansour Bin Zayed Al Nahyan as its Chairman. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. 4 of 2007 and amended by Federal Decree Law No. 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 . Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. in Business Administration. The BRC also guides management on risk appetite across sectors, geographies and customer types. 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. He has completed a General Management Program from Harvard Business Schools and holds Bachelor in Business Administration with Honours. Sheikh Mansour bin Zayed Al Nahyan,. The function is both administrative and strategic. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. 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. [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]. 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. 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. He also sits on a number of boards, including AXA and Emirates Post Group. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. This Initiative creates a new framework for the development and promotion of world class, and global scale, renewable energy and resource sustainability industries in Abu Dhabi. 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. Site Advisory: Fraud Warning; . Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. 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. Mr. Kanoo currently serves as the Chairman of The Kanoo Group, one of the largest, longest running and independent family-owned groups of companies in the Gulf region. Al Hussaini holds a Masters degree in International Business from Webster University in Geneva, Switzerland. The Board monitors the performance of the Bank's businesses and guides and supervises the Bank's management. Minister of Federal Supreme Council Affairs, Executive Council Member Government of Ajman, Knowledge and Human Development Authority Government of Ajman, Board Member of the Commercial Bank International (CBI), Bin Aweidha Corporation Holding Managing Director, Market Makers Financial Advisory Managing Director, Founder and CEO of Liberal Lawyers and Legal Consultants, Member of the Board of Directors of World Investments P.S.C, Partner in Market Experts Financial Brokerage Company (LLC), Partner and Director of Gate Business Investment (LLC), Founder and Director of Al Madina Co.(Stock and Bond Broker) LLC, Member of the Board of Directors of Experience Gate Company for Management Consulting (LLC), Founder and Chairman of the Abu Dhabi Tahseel Company (LLC), Member of the Association of Emirates Safer Internet Society, Board Member of Agricultural Trading & Development Co. Ltd, Director General Airport Free Zone Authority, Board Member of UAE Football Association, Elected Member of Federal National Council (U.A.E Parliament), Member Of Arab Parliament (Cairo & Damascus), Board Member of UAE Insurance Authority, Vice Chairman of the Board of Directors of Al-Ghaith Holding Company (private shareholding), Member of the Board of Directors of Al Ain National Insurance Company, Member of the Board of Directors of the National Marine Dredging Company, Member of the National Consultative Council of Abu Dhabi, Member of the Abu Dhabi Tawteen Board of Directors, Honorary member of the Al Ain Sports and Cultural Club, Chairman of the Board of Directors of Prestige Jet Private Aviation Company, Chairman of Makasib Islamic Financial Services Board. 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. The Boards Nomination, Compensation, HR & Governance Committee is responsible to ensure that independent directors remain independent on a continuous basis. 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. Abu Dhabi Investment Authority's new research centre makes its debut Board Of Directors - EIA H.H. Abu Dhabi Investment Authority 's most notable . His Excellency earned his stripes in professional finance at Citi Bank in London. H.E. ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. Who We Are - TAQA Carlos Obeid joined the ADCB Board of Directors in 2019. Staff - EIA All rights reserved. H.E. 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 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. Chartered Financial Analyst, (CFA Institute, USA) BSc Business Management (University of Sussex, UK). in Economics and Politics from Bristol University, and obtained an M.A. 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. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate. Abu Dhabi Investment Authority has 3 board members and advisors, including Shubhrawpratap Dasgupta. He is former chairman of IMI plc and a former non-executive director of SPIE, BAE Systems plc, Foster Wheeler Corporation, Fondo Strategico Italiano, Equant NV, and PowerGen plc. 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 . Amr Al Menhali has a proven executive management track record with over 22 years of experience across a number of leadership positions in the financial sector such as the CEO of Al Hilal Bank (previously) and Waha capital. FAB's Board of Directors have huge and various experiences in different fields and domains giving the bank a strong stand. It often buys partial interest ownerships with leading real estate managers. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi It will be backed by a major commitment from the Authority. In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . H.E. Its board of directors, which is made up of members nominated by the two companies, is responsible for directing the company's independent strategy and developing its business. 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. He serves on the board of Emirates Global Aluminum-the fifth largest aluminum company in the world. The Board maintains awareness of the other commitments of its Directors and is satisfied that these do not conflict with their duties and time commitments as Directors of the Bank. Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. 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. Al Gergawi is the Board Chairman of the Federal Competitiveness and Statistics Authority (FCSA), the government body responsible for developing and enhancing the countrys performance in the areas of global competitiveness and statistics. 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. The Committee has agreed a list of skill requirements necessary for the proper functioning of the Board as a whole. Prior to CD&R, he served as CEO of BBA Group plc from 1993 to 2001, leading the successful restructuring and reorganization of the company, and continued to serve as chairman from 2001 to 2006. As an Institution in which the government of Abu Dhabis share is not less than 50%, the Bank is subject to audits by Abu Dhabi Accountability Authority. ADIA has robust governance standards with clearly defined roles and responsibilities that ensure accountability. Saeed Almazrouei is the Deputy Platform CEO, Direct Investments, at Mubadala Investment Company PJSC. Any candidate for appointment as a Director must first be considered and approved by the Board's Nomination, Compensation, HR & Governance Committee. In addition to his roles at ADIA and Gulf Capital, Mr. Al Darmaki holds multiple board roles, including Chairperson of Neue Privat Bank (Middle East), Board and Committee Member at Emirates Investment Authority. in Accounting from United Arab Emirates University (UAEU). 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. Their most recent investment was on Dec 7, 2022, when Craftsman Automation raised Abu Dhabi Investment Authority has made 2 diversity investments. 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 . He is also a board member of the Economic Zones World and Dubai Real Estate Corporation. 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. Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. Investment Stage Secondary Market. Mr. Quarta has been a Partner at CD&R for 21 years and is chairman of CD&R Europe. 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. BSc Civil Engineering (Northeastern University, USA). 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. of Corrections, Colorado Springs, CO, USA. According to the Bank's articles of association, all Directors are required to seek re-election by shareholders every three years. Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. 4 of 2007 as amended by Federal Decree Law No. Kaltham joined ADIA in 2006 as a Senior Analyst and developed extensive experience of Far East and Asia Pacific markets within external equities. Sheikh Mansour bin Zayed Al Nahyan, How satisfied are you with the overall experience on our website? However, all loans are made on arms' length terms. Both loans will require onlending Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. The Bank is committed to sound corporate governance practices. 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. One-third of the Board will seek re-election on an annual basis. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. The most relevant comments from the evaluation are presented to the Board, in the form of an action list, and its implementation is monitored by the Board's Nomination, Compensation, HR & Governance Committee.
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