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In the event that a vacancy arises, Directors are permitted to elect any individual nominated to fill the vacancy, but any director so appointed must seek election by the shareholders at the next annual general meeting. 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 . 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. Directors access to independent professional advice policy (PDF), Procedures for selection and appointment of the Banks Directors, Procedures for selection and appointment of the Banks Directors Flowchart (PDF), Board performance evaluation policy (PDF), Directors' conflicts of interest policy (PDF), Abu Dhabi Executive Affairs Authority, Chairman (2006), UAE, Emirates Nuclear Energy Corporation, Chairman (2009), UAE, Emirates Global Aluminium PJSC, Chairman (2014), UAE, City Football Group Limited, Chairman (2008), UK, Abu Dhabi Executive Council, Member (2006), UAE, UAE Supreme Council for Financial & Economic Affairs, Member (2020), UAE, Abu Dhabi National Oil Company, Member (2021), UAE, AlNowais Investments LLC, Chairman (2016), UAE, Rotana Hotels and Real Estate Investment, Member (2006), UAE, Abu Dhabi National Hotels PJSC, Non-Executive Director (2009), UAE, Abu Dhabi National Takaful Company PSC, Vice-Chairman (2008), UAE, Manazel Group, Non-Executive Director (2009), UAE. Post ADIA, he established Abu Dhabi Investment Council (ADIC) in 2007 and served as its Managing Director. 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. Learn more. As Chairman of the Board, H.H. 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 has received various awards including the United Nations flagship award Champion of the Earth in 2012, given to outstanding visionaries and leaders in the fields of policy, science and entrepreneurship. The EIA was established in 2007 through Federal Decree Law No. All three functions cover all banking activities in general and key risk areas in particular. He has more than 16 years of banking experience, having held senior management positions with National Bank of Abu Dhabi and First Gulf Bank. 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. Mansour bin Zayed . Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. Dr. Sultan Ahmed Al Jaber is a member of the UAE Federal Cabinet, Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi Nati. H.E. In 2006, while at Mubadala, at the direction of the UAE leadership, he helped establish Masdar, Abu Dhabis pioneering renewable energy initiative, and served seven years as its CEO, guiding its global contribution to clean technology and sustainable development. Previously he had held various board membership in several regional and international publicly listed companies across various sector such as finance, oil & gas, real estate and healthcare (UAE Banks Federation, GFH Financial Group, NESR (NASDAQ listed), SDX Energy (AIM listed), Deem Finance and Abu Dhabi Finance. 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. This is a profile preview from the PitchBook Platform. Contact Email dg_dgm@yahoo.in. The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. 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 are responsible for determining the Bank's strategic direction. His Excellency earned his stripes in professional finance at Citi Bank in London. Governance structures in place- kick starts reputation as standard-bearer for good governance. We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. He is a UAE national, coming from a prominent family of businessmen primarily engaged in trading sector businesses. Mr. Quarta graduated from the College of the Holy Cross. The ministry will also enable better integration between industrial sectors, while embedding advanced technology at the center of the nations industrial base. 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. Any proposals for changes are considered by the Nomination, Compensation, HR & Governance Committee prior to obtaining Board and, if necessary, shareholder approvals. Dr. Sultan Ahmed Al Jaber is a member of the UAE Federal Cabinet, Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company (ADNOC). H.E. 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. Mishal Kanoo tries to help people reach their professional dreams. In this role, he oversees platform-wide activities, supports the delivery of the platforms investment strategy, manages the platforms capital allocation, ensures the successful implementation of capital deployment and monetization transactions and assesses value, risks and expected returns. Establishment of Investment Process and Portfolio Management. Mr. Quarta has been a Partner at CD&R for 21 years and is chairman of CD&R Europe. in International Studies from the John Hopkins University. The following matters are reserved to the Bank's Board in accordance with best practices: The Board conducts a formal and rigorous evaluation of its performance annually, with a view to constructively identifying areas of success and achievement, as well as areas, which may require improvement. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. Sheikh Zayed does not hold any external directorships. [6] ADIA's global portfolio is broken down into sub-funds covering a specific asset class. BSc Civil Engineering (Northeastern University, USA). Executive Director of the Institute of Multi-Cultural Studies, University of Denver, Colo, USA. Kanoo has been investing on a personal and company level since 1991. Compliance with anti-money laundering procedures and internal training in such procedures is also developed and administered by the Group Compliance department. In June 2021, Aysha moved to the Abu Dhabi Investment Authoritys newly created Core Portfolio Department to help develop its comprehensive strategy. This includes both developed and emerging markets, EIA has investments in the Americas, Europe, Asia and the Middle East. of Corrections, Colorado Springs, CO, USA. During his tenure, Dr. Al Jaber oversaw the completion of Khalifa Port, Abu Dhabis flagship, fastest growing deep water port as well as Khalifa Industrial Zone Abu Dhabi (KIZAD), Abu Dhabis first integrated trade, industrial and logistics free zone. Al Gergawi also holds the position of Deputy Chairman of the UAEs Ministerial Development Council, as well as Emirates Investment Authority, the UAE Federal Governments sovereign wealth fund. 4 of 2007 as amended by Federal Decree Law No. As Chairman of the Board, H.H. The assets of the fund are managed by the executive management team. 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. All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. [6][citation needed], In the Bank of Credit and Commerce International scandal of the 1990s, ADIA reportedly lost hundreds of millions of dollars. 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 Investment Authority entered into an Agreement and Plan of Merger to acquire Coupa Software Incorporated from a group of. In order to deliver against these objectives, management regurlarly develops and renews detailed strategic plans that operate across the Bank's businesses. Staff. 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. ADCB has implemented a Directors' conflicts of interest policy. H.E. Board of directors. 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. 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 Saeed Almazrouei is the Deputy Platform CEO, Direct Investments, at Mubadala Investment Company PJSC. The board members currently serve for a period of three years, and can be renewed. He was part of the high-profile team that was behind the launch of Area 2071, the nucleus of the future envisioned in the UAE Centennial Plan 2071. 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. 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. Begins to serve as advisor to Cabinet on key assets and corporate governance. PitchBooks data visualizations help you see a limited partners commitmentsshowing a breakdown of activity by fund type and region, complete with performance metrics. Thomas Arnold Board Member. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. 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. Fatima Al Noaimi joined Mubadala in 2011 and is currently a Senior Principal on the Mubadala Capital Private Equity team. 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. 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. Please refer to ADCBs annual report for further details on Directors remuneration. | Advanced search BSc Business Sciences, Finance (Zayed University, UAE). Mohammed Habroush Al Suwaidi H.E. 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. Copyright 2023 ADCB. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. ADIA has robust governance standards with clearly defined roles and responsibilities that ensure accountability. Khaled H. Alkhoori was elected by ADCB shareholders to join ADCBs Board of Directors in April 2012. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. In particular, it sets the goals, strategies and policies of the Bank. Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. In addition, the risk management and compliance functions monitor control activities on an ongoing basis. H.E. Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. Board Of Directors; CEO's Message; Staff. Details of all transactions in which a Director and/or other related parties might have potential interests are provided to the Board for its review and approval. He is also a board member of the Economic Zones World and Dubai Real Estate Corporation. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. ABU DHABI, Under the patronage of H.H. The Board Secretariat actively engages with the Chairman, Committee Chairman and management to ensure that agendas are appropriate and meetings are effective. Our initial core team demonstrated a mixture of international and local investment management skills as well as in-depth industry experience and expertise. Purpose Powering a thriving future by efficiently providing sustainable and reliable energy and water to unleash the unlimited potential of people and places. 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. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. H.E. Decree establishes the EIA as sole Federal investment vehicle. 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. Mansour bin Zayed chairs meeting of EIA Board of Directors. Prior to his appointment, H.E. We first developed an effective corporate governance framework with a strong board of directors and an active Executive Committee which reflected the unique nature of our mandate. 2023 Gulf Capital. He has also been Chairman of Emirates Financial Services. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. 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. Both loans will require onlending In the context of strengthening cooperation between AAAID and Abu Dhabi Chamber of Commerce and Industry, a memorandum of understanding was signed that aimed Each asset class has its own fund managers and in-house analysts covering it. The firm carries out its investment program independently and without reference from the Government of Abu Dhabi. Descendant of Bin Aweidha Family which played prominent role in founding UAE Politically and Economically. The principal activities of the company are dealing Managing Investment and operating funds, in addition to Arranging, Advising and Custody. Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. 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. ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). Investment Leadership Program (ILP) Working at EIA; Media & Resources; . The current board dates back to the April 2010 reshuffle (Emiri decree n4/2010) and it was fully renewed April 2013. She became an Investment Manager in 2012. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). is also the former Director General of the Executive Office of H.H. Beginning his career at the Abu Dhabi National Oil Company, H.E. 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 Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. Over this decade, AD Ports has become a thriving business, turning a profit two years ahead of the approved business plan. The Board Secretariat assists the management by helping them to understand the requirements and directions of the Board and proactively facilitates the governance of the Bank. H.E. The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. 13 of 2009. ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. [12] ADIA also invests in development projects including malls. H.E. To develop a constructive relationship with the GCEO and to manage his performance. 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. Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. Since January 2006, he has been the Chairman of Orient House for Development & Construction LLC. DISTINGUISHED LEADERSHIPBoard of Directors Mr. Hareb Al Darmaki Co-founder and Chairperson of the Board H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. H.E. Phone Number (971) 241-5000. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. Executive Trainer and Life Coach, Prudential Real Estate, and Relocation, USA. MSc Civil Engineering (Northeastern University, USA) Dr. Al Jaber also holds several leadership roles and advisory positions and counsels on issues related to Energy, Economics, Strategic Communications & Sustainable Development. Number of Exits 23. Under his leadership, ADIO has launched international offices around the world. [4], The operations of ADIA have historically and to the present been secretive and opaque. We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture. ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. 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. The IAG performs its function in accordance with a risk-based audit methodology. 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. H.H. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. Shubhrawpratap Dasgupta Advisor Jan 5, 2017. . The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) . All rights reserved. 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 UAE Minister of Economy holds a Bachelors degree in Civil Engineering from the University of Sheffield in the UK. His Excellency holds a PhD in Economics from Imperial College, London. However, all loans are made on arms' length terms. FAB's Board of Directors have huge and various experiences in different fields and domains giving the bank a strong stand. The Board of Directors and the management team regularly discuss and refine the Bank's strategy and objectives. 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. 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. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. H.E. H.E. Almost every asset class is managed both internally and externally. 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. 4 of 2007 and amended by Federal Decree Law No. For over 50 years, the Group has played . Aysha Al Hallami does not hold any external directorships. 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. 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. 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. Jan Schuster Portfolio Manager - Private Equity Division. H.E. Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 Our investment portfolio approach was broken down into two distinct and focused investment groups: Strategic Assets and Asset Management groups: Strategic Assets and Asset Management. Sheikh Mansour bin Zayed Al Nahyan,. 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. Reporting to H.H., the Managing Director his current responsibilities at ADIA include. 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. As a result of regular written declarations submitted by each of the Board Members, the Board maintains satisfactionthat the other commitments of the Directors do not conflict with their duties, or that, where conflicts may arise, the Board is sufficiently aware and appropriate policies are in place to minimise the risks. Based in London, he played the lead operating role in the Firms investment in SPIE and served as chairman of the supervisory board of Rexel during CD&Rs ownership of the company from 2005 to 2014. Al Hussaini has widespread professional experience across the banking, finance, real estate and investment sectors. Feedback. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. He has guided ADNOC through a number of strategic firsts, including entering the global capital markets for the first time, completing the first ever IPO of an ADNOC business (ADNOC Distribution) and attracting significant FDI from strategic and private equity investors to stimulate smart growth across ADNOCs upstream, midstream and downstream value chain. 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. Playing a role in bettering peoples lives is a great instigator for doing what he does. She has also successfully completed the General Management Program at Harvard Business School. H.E. Directors are eligible to receive, and have received, loans from the Bank. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. Carlos Obeid joined the ADCB Board of Directors in 2019. MSc Finance & Banking (Cass Business School, City University, UK) 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. To facilitate this role, the Board Secretariat has full visibility of all management committees and activities. ADIAs assets are not classified as international reserves. General Information Description Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. 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.