MSc Finance & Banking (Cass Business School, City University, UK) ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. He was also responsible for all Treasury activities including Mubadalas bond issuances and project financing. of Corrections, Colorado Springs, CO, USA. 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. Some of the most recent investments Fatima has led include the following: acquisition of KMAC, the second largest Taco Bell franchisee in North America; Mubadalas $2.5billion partnership with Silverlake including both an investment in the Silverlake General Partner and an anchor commitment to a new Long-Term Capital Fund. Contact Email dg_dgm@yahoo.in. In 2013 and 2014 we were entrusted with the custody of three additional strategic assets Emirates Post, Emirates Transport and Al Masraf bank. To develop a constructive relationship with the GCEO and to manage his performance. 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. Fatima Al Noaimi joined Mubadala in 2011 and is currently a Senior Principal on the Mubadala Capital Private Equity team. ADIA has robust governance standards with clearly defined roles and responsibilities that ensure accountability. 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 is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. Assistant to the Deputy Director, Colo Dept. The UAE Minister of Economy holds a Bachelors degree in Civil Engineering from the University of Sheffield in the UK. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. Begins to serve as advisor to Cabinet on key assets and corporate governance. 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. 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. 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. Mansour bin Zayed . 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. Jan Schuster Portfolio Manager - Private Equity Division. 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 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. Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. 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. H.E. 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. The IAG also oversees and conducts the Banks internal audit function. [4][2], The fund is a member of the International Forum of Sovereign Wealth Funds. The Bank's policy is to, so far as possible, only engage in transactions with related parties (including Directors) on arm's length terms. He is currently part of the senior management team in the Crown Prince Court, serving as the executive director of the financial affairs, overseeing the entire financial activities and strategic initiatives. As Vice Chairman and Managing Director of Dubai Future Foundation, he heads an entity tasked with implementing the Dubai Future Agenda. Reporting to H.H., the Managing Director, his current responsibilities as Advisor Managing Director Office include portfolio management, asset allocation, strategic decisions and broad financial analysis. Beginning his career at the Abu Dhabi National Oil Company, H.E. In addition, the Board Secretariat works with various external providers to source suitable tailored training sessions. Mr. Mohamed Hadi Al Hussaini is the Chariman of Emirates Integrated Telecommunications Co. PSJC, and currently he sits on the board of Emirates NBD, Emirates Islamic Bank and Dubai Refreshments Company. 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. 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. Playing a role in bettering peoples lives is a great instigator for doing what he does. The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. 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. 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. 13 of 2009. 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. Al Hussaini has widespread professional experience across the banking, finance, real estate and investment sectors. A performance evaluation of the Board, Board Committees and individual Directors is conducted on an annual basis. | Advanced search BSc Civil Engineering (Northeastern University, USA). in Business Administration. Aysha Al Hallami does not hold any external directorships. 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. 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. She also has an MBA in International Finance and is a member of the Institute of Management Accountants, IMA. Purpose Powering a thriving future by efficiently providing sustainable and reliable energy and water to unleash the unlimited potential of people and places. BSc Business Management (University of Sussex, UK). Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. In particular, it sets the goals, strategies and policies of the Bank. 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. The Committee has agreed a list of skill requirements necessary for the proper functioning of the Board as a whole. In order to deliver against these objectives, management regurlarly develops and renews detailed strategic plans that operate across the Bank's businesses. The firm carries out its investment program independently and without reference from the Government of Abu Dhabi. Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. Member of President Clinton America 2000 Task Force, Washington, DC., USA, Acting Chairman and Group CEO of Midmar Holding, Johannesburg, South Africa. The Managing Director chairs the Investment Committee, which includes among its members the Executive Directors of all investment departments. The Board of Directors (the "Board") is the Bank's principal decision-making forum. 2023 Gulf Capital. BSc Business Finance (Lewis &Clark College, USA). Mr. Al Darmaki received a B.S. Abu Dhabi Investment Authority's new research centre makes its debut with $100,000 award Adia Lab expected to play a proactive role in the development of the emirate's digital ecosystem The Abu Dhabi Investment Authority is capitalising on its technology and data analytics capabilities as it charts its future investment opportunities. The Board Secretariat maintains a conflicts register that is regularly reviewed by the Nomination, Compensation, HR & Governance Committee. 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. However, ADIA's ratio of third-party fund managers is being actively managed. Governance structures in place- kick starts reputation as standard-bearer for good governance. 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. The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. 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. 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. BSc Electrical Engineering (American University of Beirut). 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. 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 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. Dr. Al Jaber has initiated a program of increased efficiencies, strengthened ADNOCs overall performance and fostered a more commercial mindset. Our team helps investors and companies of all sizes establish their business, grow and develop in Abu Dhabi. In 2012, he was nominated and elected by ADCB shareholders to act as a Director, and in March 2015, he was again nominated and elected by ADIC to act as a Director. [7], ADIA manages a substantial amount of capital, and is one of the world's largest investment funds. Abu Dhabi Investment Authority has made 51 investments. 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. 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. In driving ADNOCs 2030 strategy toward a more profitable upstream, more valuable downstream and more sustainable and economic gas supply, Dr. Al Jaber has also led a digital transformation at the company. The ministry will also enable better integration between industrial sectors, while embedding advanced technology at the center of the nations industrial base. . MSc Business Administration, minor in Management Information Systems and Strategic Planning (Widener University, USA) 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. Chief Financial Officer, Private Equities Department, Youre viewing 5 of 29 commitments. The Boards Nomination, Compensation, HR & Governance Committee is responsible to ensure that independent directors remain independent on a continuous basis. 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. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. The core mandate of the ministry is to increase industrial competitiveness and help drive economic growth by catalyzing the diversification of the UAEs economy. Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. 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. However, in 1976, Sheikh Zayed bin Sultan Al Nahyan, the founding president of the United Arab Emirates, converted it into the Abu Dhabi Investment Authority. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. is also the former Director General of the Executive Office of H.H. 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. Amr Al Menhali was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. 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. His Excellency earned his stripes in professional finance at Citi Bank in London. Board of Directors Corporate Governance Board of Directors H. E. Khaldoon Khalifa Al Mubarak CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR) Read more H. E. Hussain J. AlNowais VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR) Read more Khaled H. Alkhoori INDEPENDENT, NON-EXECUTIVE DIRECTOR Read more Khalid Deemas Alsuwaidi NON-EXECUTIVE DIRECTOR Listen to the content of the page by clicking on listen below CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. Since January 2006, he has been the Chairman of Orient House for Development & Construction LLC. The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). H.E. Tailored induction programmes are arranged for all newly appointed Directors. 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. Abu Dhabi Investment Authority 's most notable . Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. Contact. He has prioritized the adoption of breakthrough technologies including AI, Big Data and Blockchain to ensure ADNOC stays ahead of global energy demand and remains a key contributor 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. It is primarily involved in the establishment of Abu Dhabi National Bank 1968, and working in multiple sectors such as Banking, Financial services as well as Insurance services and manages investments. . 17 May, 2021. Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. 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. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. 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. Degree in Economics & Finance (Tufts University, USA). 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. She has also successfully completed the General Management Program at Harvard Business School. Click here for Terms of Reference for the Board of Directors. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. 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. Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. Sheikh Mansour bin Zayed Al Nahyan,. in Economics and Politics from Bristol University, and obtained an M.A. They are appointed by Emiri decree. Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. Descendant of Bin Aweidha Family which played prominent role in founding UAE Politically and Economically. This includes both developed and emerging markets, EIA has investments in the Americas, Europe, Asia and the Middle East. He has also been Chairman of Emirates Financial Services. Reporting to H.H., the Managing Director his current responsibilities at ADIA include. In addition to this, he is currently a board member in Abu Dhabi Housing Authority and a member of Investment Committee in Sandooq Al Watan. Advisor to the Nigerian Minister of Communications. Al Marri held important positions in the government as a senior, top-ranking official. Al Marri is a member of the Boards of Directors of different federal entities. ADIA's mission is to sustain the long-term prosperity of Abu Dhabi by prudently growing capital through a disciplined investment process and committed people who reflect ADIA's cultural values. Chairman of the Board of Directors of Al-Ghaith Trading and Contracting Co. LLC. Where Abu Dhabi Investment Council intends to appoint a new Director, it is required to consult with the Committee in advance of such appointment. HE Dr Sultan Ahmed Al Jaber is a member of the UAE Federal Cabinet, Minister of Industry and Advanced Technology, the UAE's special envoy on climate change, Chairman of Masdar, and President-Designate of COP28 - the first CEO to serve in this role. Under his leadership, ADIO has launched international offices around the world. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. 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. The EIA was established in 2007 through Federal Decree Law No. Their most recent investment was on Dec 7, 2022, when Craftsman Automation raised Abu Dhabi Investment Authority has made 2 diversity investments. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. Directors are eligible to receive, and have received, loans from the Bank. 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. In June 2021, Aysha moved to the Abu Dhabi Investment Authoritys newly created Core Portfolio Department to help develop its comprehensive strategy. To facilitate this role, the Board Secretariat has full visibility of all management committees and activities. 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. 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. [13] H.E. Sheikh Mohammed bin Rashid Al Maktoum. 4 of 2007 and amended by Federal Decree Law No. He is also a board member of the Economic Zones World and Dubai Real Estate Corporation. Learn more. 10 The terms and conditions of hard-term and those of regular-term loans in 2013. She has over ten years of experience in funds and direct private equity investments. Shareholder support Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July 2020. 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 . The BRC also guides management on risk appetite across sectors, geographies and customer types. The Board maintains awareness of the other commitments of its Directors and senior management. 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 . . The excitement of helping others achieve their goals, both big or small, is what drives him. Kaltham is a member of the External Equities Executive Committee and before that she was a member of their Investment Committee. All rights reserved. Skilled in Real Estate & Private Equity Risk Due Dilligence. Strong business development professional with a Claritas Investment Certificate from CFA Institute & Operational Risk Management Certificate from Chase Coopers. H.E. 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.
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