The Banks internal controls over financial reporting comprise processes designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles. Group 42 is an artificial intelligence and cloud computing company that was founded in Abu Dhabi, United Arab Emirates in 2018. However, ADIA's ratio of third-party fund managers is being actively managed. It often buys partial interest ownerships with leading real estate managers. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. Post ADIA, he established Abu Dhabi Investment Council (ADIC) in 2007 and served as its Managing Director. She is an integral part of the team responsible for . In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . H.E. 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. 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. 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. [6][citation needed], In the Bank of Credit and Commerce International scandal of the 1990s, ADIA reportedly lost hundreds of millions of dollars. 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. Contact Email dg_dgm@yahoo.in. The board members currently serve for a period of three years, and can be renewed. MSc National Security and Strategic Studies (National Defense College, UAE) According to the Sovereign Wealth Fund . Dr. Al Jaber continues to serve as Chairman of Masdar, guiding its strategic direction. In the year 2005, Abu Dhabi Investment Company purchased 51 percent of shares of Massar (Company) from Abu Dhabi Power Corporation, a subsidiary of Abu Dhabi Water & Electricity Authority. 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. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. ADIA does not seek to manage or take an operational role in the companies in which it invests. As Chairman of the Board, H.H. 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. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. In addition, Dr. Al Jaber served as Chairman of the Abu Dhabi Ports Company from 2009-2019. Establishment of Investment Process and Portfolio Management. 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. Abu Dhabi Finance P.P.C is closed UAE Joint stock company headquartered in Abu Dhabi with a paid-up capital of USD ($)142,780,000. H.E Mohamed Hassan Alsuwaidi. Abu Dhabi Investment Authority has made 51 investments. The Board Secretariat maintains a conflicts register that is regularly reviewed by the Nomination, Compensation, HR & Governance Committee. The ministry will also enable better integration between industrial sectors, while embedding advanced technology at the center of the nations industrial base. in Business Administration. Abu Dhabi Investment Authority 's most notable . The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) . . Each asset class has its own fund managers and in-house analysts covering it. 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. Abu Dhabi Investment Authority has 3 board members and advisors, including Shubhrawpratap Dasgupta. Assistant to the Deputy Director, Colo Dept. Member of the Libyan Reconciliation Commission. ABU DHABI, Under the patronage of H.H. The Abu Dhabi Investment Group (ADIG) is an investment arm of the Bin Aweidha Corporation Holding, Established in 1968, Based in Abu Dhabi, With Capital 1 Billion USD. 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. Board papers are delivered at least 3 business days before each Board meeting. Kaltham is a graduate of the American University in Dubai, specializing in Business Administration. 2023 Gulf Capital. H.E. 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. Executive Trainer and Life Coach, Prudential Real Estate, and Relocation, USA. [6] ADIA's global portfolio is broken down into sub-funds covering a specific asset class. The principal activities of the company are dealing Managing Investment and operating funds, in addition to Arranging, Advising and Custody. 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 fund manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories, including quoted equities, fixed income, real estate, private equity, alternatives, and infrastructure. The IAG also oversees and conducts the Banks internal audit function. 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. 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. . Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. His Excellency earned his stripes in professional finance at Citi Bank in London. 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). Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. MSc Computer Science (University College London, UK) In 2006, between 70% and 80% of the organization's assets were managed outside with an aim to bring that down to between 60% and 70%. 4 of 2007 as amended by Federal Decree Law No. Mohammed Habroush Al Suwaidi H.E. The function is both administrative and strategic. Abu Dhabi Investment Authority is an investment management agency investing funds on behalf of the Government of Abu Dhabi. Chairman of the Board of Directors of Al-Ghaith Trading and Contracting Co. LLC. Directors are eligible to receive, and have received, loans from the Bank. Private Equity and Venture Capital, (Harvard Business School, USA) ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. According to the Bank's articles of association, all Directors are required to seek re-election by shareholders every three years. H.E. 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. The Abu Dhabi Investment Council is an investment arm of the Government of Abu Dhabi. 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. The Committee has agreed a list of skill requirements necessary for the proper functioning of the Board as a whole. Dr. Tariq Bin Hendi was recently the Chief Investment Officer of Group 42 (G42). 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. Fatima graduated magna cum laude from the Higher Colleges of Technology with a B.S. Skilled in Real Estate & Private Equity Risk Due Dilligence. 1996)", Sovereign Wealth Fund Institute Abu Dhabi Investment Authority, https://en.wikipedia.org/w/index.php?title=Abu_Dhabi_Investment_Authority&oldid=1141187949, Mohammed Habroush Al Suwaidi, Head of the Department of Finance (Abu Dhabi), Hamad Mohammed Al Hurr Al Suwaidi, Head of the Department of Finance (Abu Dhabi), Ghanim Faris Ghanim Ateish Al Mazrui, former financial advisor to Sheikh, This page was last edited on 23 February 2023, at 20:27. Number of Exits 23. Overview We are the Abu Dhabi Investment Office - ADIO. Dr. Al Jaber has initiated a program of increased efficiencies, strengthened ADNOCs overall performance and fostered a more commercial mindset. View Biography Chartered Financial Analyst, (CFA Institute, USA) . Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. H.E. Prior to taking on the leadership position at ADNOC, Dr. Al Jaber was the Chief Executive Officer of the Energy platform at Mubadala, the Abu Dhabi governments strategic investment arm. The Board of Directors and the management team regularly discuss and refine the Bank's strategy and objectives. 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. 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 [4][2], The fund is a member of the International Forum of Sovereign Wealth Funds. In line with the above, the Bank has determined that, (a) Board members employed by Abu Dhabi Investment Council, the Government of Abu Dhabi's Department of Finance or Abu Dhabi Investment Authority should be classified as independent directors, (b) the Bank's Board contains a majority of independent directors, and (c) each of the Bank's Board committees contains a majority of independent directors. 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 Feedback. 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. He also sits on a number of boards, including AXA and Emirates Post Group. 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. 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 . Sheikh Zayed does not hold any external directorships. Experienced Specialist with a demonstrated history of working in the investment management industry. 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. [13], Many of ADIA's investments have decreased substantially since investments were made at market peaks in 2007 and 2008. Al Hussaini has widespread professional experience across the banking, finance, real estate and investment sectors. Mansour bin Zayed chairs meeting of EIA Board of Directors. Our support department structure has developed over many years to ensure that the business continues to operate efficiently at all levels in pursuit of ADIAs investment goals. 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. BSc Civil Engineering (Northeastern University, USA). Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. 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. There is a clear division of responsibilities between the respective roles and responsibilities of the Chairman and the GCEO. Dr. Al Jaber also holds several leadership roles and advisory positions and counsels on issues related to Energy, Economics, Strategic Communications & Sustainable Development. 10 The terms and conditions of hard-term and those of regular-term loans in 2013. [10] It periodically reviews and monitors compliance with the Group's overall risk appetite and makes recommendations thereon to the Board. Furthermore, he is a professional and motivational speaker, writes articles for local and regional media, is published in business journals on a regular basis, and holds chief positions as Chairman/Director of various reputable companies, including Gulf Capital, KHK & Partners Limited, Dalma Capital, Johnson Arabia LLC and KAAF Investments. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi 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. 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. 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. All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. In particular, it sets the goals, strategies and policies of the Bank. BSc Business Finance (Lewis &Clark College, USA). As Vice Chairman and Managing Director of Dubai Future Foundation, he heads an entity tasked with implementing the Dubai Future Agenda. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. To read relevant policy please see below: The Board Secretariat delivers Board papers to the Board by means of a secure iPad application. 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 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. [8] Due to its size, the fund has been influential in international finance. PitchBook provides insight into a limited partners preferred investments, including actual and target allocations by strategy, secondary market preferences and interest in first-time funds. He also chairs the World Government Summit, a global platform focused on shaping the future of governments. BSc Computer Information Systems (Bethune Cookman College, USA). Jan Schuster Portfolio Manager - Private Equity Division. 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. Reporting to H.H., the Managing Director his current responsibilities at ADIA include asset allocation, portfolio management and strategic decisions. His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Government. Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. In particular, the Bank recognizes the damage that could be created by conflicts of interest at Board level, whether disclosed or undisclosed; this includes potential conflicts with the interests of the Bank's controlling shareholder and its related parties. The BRC also guides management on risk appetite across sectors, geographies and customer types. We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. ADCB has implemented a Directors' conflicts of interest policy. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. Get the full list, Morningstar Institutional Equity Research, Board Member & Analyst, Internal Equities Department, Deputy Chairman of the Board of Directors. Under his leadership, ADIO has launched international offices around the world. For over 50 years, the Group has played . H.E. Prior to his appointment, H.E. 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. 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 Details of all transactions where a Director and/or other related parties might have potential interests are provided to the Board for its review and approval. Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. The Abu Dhabi Investment Authority (Arabic: , ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi (in the United Arab Emirates) founded for the purpose of investing funds on behalf of the Government of the Emirate of Abu Dhabi. [7], ADIA manages a substantial amount of capital, and is one of the world's largest investment funds. The excitement of helping others achieve their goals, both big or small, is what drives him. 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. 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. The Managing Director chairs the Investment Committee, which includes among its members the Executive Directors of all investment departments. Compliance with anti-money laundering procedures and internal training in such procedures is also developed and administered by the Group Compliance department. Mansour bin Zayed . 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. 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. Mishal Kanoo tries to help people reach their professional dreams. 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 Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. H.E. MSc International Securities Investment and Banking (University of Reading, UK) 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. Sheikh Zayed bin AweidhaMANAGING DIRECTOR, Dr. Ahmed Abdulla Ghaith Al SuwaidiBoard Member. Dr. Al Jaber has previously served on the United Nations Secretary Generals High Level Group on Sustainable Energy for All. MSc Civil Engineering (Northeastern University, USA) Conor Boden . 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. The Board maintains awareness of the other commitments of its Directors and senior management. Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. 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. H.E. 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. PitchBooks data visualizations help you see a limited partners commitmentsshowing a breakdown of activity by fund type and region, complete with performance metrics. She has over ten years of experience in funds and direct private equity investments. This is a profile preview from the PitchBook Platform. 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. Sheikh Mansour Bin Zayed Al Nahyan Chairman H.H. Lecturer & Head of Legal Affairs, High Commercial Institute, Kuwait, Published books on law that are adopted as text books in UAE and Kuwait University respectfully, Legal Advisor and Head of Legal Office; Ministry of Economy & Commerce, UAE, Legal Advisor of the Executive Council of the Emirate of AUH, Owner of Ghanayem Legal & Management Consultancy EST, Treasurer & Account Officer in Charge of Citibanks Financial Institutions in Dakar, Vice President Citibank Private Bank, Geneva, Managing Director Sahara Financial Management Services, Regional Director of Ecobank for Middle East, North Africa & India, Vice Chairman at Signature Africa Ventures. Any candidate for appointment as a Director must first be considered and approved by the Board's Nomination, Compensation, HR & Governance Committee. His Excellency holds a PhD in Economics from Imperial College, London. In carrying out its audit activities and responsibilities, members of the IAG have unrestricted access to all of the Banks records (either manual or electronic), assets, physical properties and personnel, relevant to the audit. Kaltham joined ADIA in 2006 as a Senior Analyst and developed extensive experience of Far East and Asia Pacific markets within external equities. Vision To provide the clean power and water that governments, businesses and consumers need for a sustainable and successful life Mission Be a low carbon power and water champion Our Values He was also the focal point for a number of comprehensive strategic partnerships with a number of countries. 17 May, 2021. Strong business development professional with a Claritas Investment Certificate from CFA Institute & Operational Risk Management Certificate from Chase Coopers. Al Marri is a member of the Boards of Directors of different federal entities. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. Kaltham is a member of the External Equities Executive Committee and before that she was a member of their Investment Committee. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. H.E. We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture.

Glenn Starnes South Meck, Keep Up The Momentum Synonym, Martin County Nc Jailbird, Articles A