All rights reserved. 1107 (D.D.C. Chartered Financial Analyst, (CFA Institute, USA) It will set financial and economic policy and will oversee the approval of strategies for a number of state-owned entities including Adnoc, Mubadala Investment Company, Abu Dhabi Investment Authority and holding company ADQ. He has completed a General Management Program from Harvard Business Schools and holds Bachelor in Business Administration with Honours. Al Marri is a member of the Boards of Directors of different federal entities. Where necessary, the Committee will also consider whether the candidate meets the Bank's criteria for independence. Dr. Al Jaber has previously served on the United Nations Secretary Generals High Level Group on Sustainable Energy for All. As Chairman of the Board, H.H. The Bank's policy is to, so far as possible, engage in transactions with related parties (including Directors) only on arm's-length terms. 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. Copyright 2023 ADCB. Collectively, the Board possesses knowledge, experience and skills appropriate for the Bank. Sheikh Zayed was appointed as a Director of ADCB in 2021, having had gained experience working at the National Bank of Abu Dhabi and Morgan Stanley. The Managing Director chairs the Investment Committee, which includes among its members the Executive Directors of all investment departments. In addition, Mr. Quarta is chairman of WPP plc and Smith & Nephew plc. Sheikh Mansour bin Zayed Al Nahyan, How satisfied are you with the overall experience on our website? 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. 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 Al-Ghaith Trading and Contracting Co. LLC. Under his leadership, ADIO has launched international offices around the world. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. Abu Dhabi Fund for Development 30 6 European Investment Bank 70 14 Japan International Cooperation Agency 184 36 Government and/or Nepal Electricity Authority 71 14 Total 505 100 Source: Asian Development Bank estimates. In addition, the Board Secretariat works with various external providers to source suitable tailored training sessions. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. Over this decade, AD Ports has become a thriving business, turning a profit two years ahead of the approved business plan. 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. Shareholder support 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. 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. H.E Mohamed Hassan Alsuwaidi. Abu Dhabi Investment Authority is an investment management agency investing funds on behalf of the Government of Abu Dhabi. 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. [6][citation needed], In the Bank of Credit and Commerce International scandal of the 1990s, ADIA reportedly lost hundreds of millions of dollars. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. The Group Chief Internal Auditor functionally reports to the Audit Committee and to the Group Chief Executive Officer on administrative and day-to-day matters. He was also responsible for all Treasury activities including Mubadalas bond issuances and project financing. 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. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. She became an Investment Manager in 2012. 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 Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. Board of directors. It periodically reviews and monitors compliance with the Group's overall risk appetite and makes recommendations thereon to the Board. Saeed Almazrouei was appointed to the ADCB Board of Directors in 2019. 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. 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. BSc Business Sciences, Finance (Zayed University, UAE). Kanoo has been investing on a personal and company level since 1991. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. 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. The Bank complies with the independence requirements of the Central Banks Corporate Governance Regulation and Standards for Banks (Circular No.89/2019 dated 18th July, 2019) and the Securities & Commodities Authority (SCA) Chairmans Resolution No.3/TM of 2020 Regarding the Approval of the Public Join-Stock Companies Governance Guide. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. Advisor to the Nigerian Minister of Communications. Abu Dhabi Finance P.P.C is an entity authorized from Capital Market Authority. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. They are appointed by Emiri decree. Aysha Al Hallami does not hold any external directorships. Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. Sheikh Zayed bin AweidhaMANAGING DIRECTOR, Dr. Ahmed Abdulla Ghaith Al SuwaidiBoard Member. 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. One-third of the Board will seek re-election on an annual basis. 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. Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. These investment departments, which invest across multiple geographies, have discretion over the origination and recommendation of investment proposals. The Board of Directors (the "Board") is the Bank's principal decision-making forum. 2023 Gulf Capital. At EIA, we value our staff as one of our most . 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. Khaled H. Alkhoori was elected by ADCB shareholders to join ADCBs Board of Directors in April 2012. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. 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. As Vice Chairman and Managing Director of Dubai Future Foundation, he heads an entity tasked with implementing the Dubai Future Agenda. 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. [1], ADIA's operations have been characterized as secretive and opaque. 17 May, 2021. in Business Administration. Directors are eligible to receive, and have received, loans from the Bank. 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. His Excellency earned his stripes in professional finance at Citi Bank in London. It often buys partial interest ownerships with leading real estate managers. Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. Saeed Mubarak Al Hajeri - Vice Chairman Chairman of Abu Dhabi National Energy Company, Executive Director & Member of Strategy Committee at Abu Dhabi Investment Authority and Member of the Editorial Advisory Board of MSCI Barra. 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. He was also the focal point for a number of comprehensive strategic partnerships with a number of countries. Investment Leadership Program (ILP) Working at EIA; Media & Resources; . The Central Bank the Central Bank provides prudential supervision of banking activities. Decree establishes the EIA as sole Federal investment vehicle. [9], 20 year and 30 year annualized rates of return for the ADIA portfolio were 7.6% and 8.1%, respectively, as of 31 December 2010. Sheikh Zayed does not hold any external directorships. BSc Business Management (University of Sussex, UK). 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. Get the full list, Youre viewing 5 of 8 board members. H.E. BSc Finance (Suffolk University, USA). 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 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi The GCEO and his senior management team are responsible for controlling and monitoring the Bank's business on a day to day basis, recommending strategy to the Board, managing the Bank's staff and implementing the Board's strategic and operational decisions. H.E. Mishal Kanoo tries to help people reach their professional dreams. Mr. Mishal Kanoo is one of the most iconic business figures in the Middle East and has a reputation as a futurist and strategist with a strong track record in forecasting economic developments in the region. 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 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. Governance structures in place- kick starts reputation as standard-bearer for good governance. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. 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%. 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. Get the full list, Youre viewing 5 of 98 team members. H.E. . The assets of the fund are managed by the executive management team. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . Experienced Specialist with a demonstrated history of working in the investment management industry. A performance evaluation of the Board, Board Committees and individual Directors is conducted on an annual basis. Mansour bin Zayed . BSc Civil Engineering (Northeastern University, USA). ADIA does not seek to manage or take an operational role in the companies in which it invests. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. The EIA was established in 2007 through Federal Decree Law No. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. MSc Civil Engineering (Northeastern University, USA) The Board Secretariat maintains a conflicts register that is regularly reviewed by the Nomination, Compensation, HR & Governance Committee. [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]. Abu Dhabi Investment Authority (ADIA) is a public institution established in 1976 by the Government of the Emirate of Abu Dhabi as an independent government investment institution. He has more than 16 years of banking experience, having held senior management positions with National Bank of Abu Dhabi and First Gulf Bank. 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. 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. 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. Thereafter, senior management provides regular updates to the Board of Directors to monitor progress against budget and strategy and permit any necessary modifications or adjustments in strategic direction.