The Bank's policy is to, so far as possible, only engage in transactions with related parties (including Directors) on arm's length terms. Khaled H. Alkhoori was elected by ADCB shareholders to join ADCBs Board of Directors in April 2012. Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. 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. Fatima graduated magna cum laude from the Higher Colleges of Technology with a B.S. Advisor to the Nigerian Minister of Communications. Previously, Mr. Al Darmaki held the position of Chairman at the Central Bank of the UAE, Abu Dhabi Investment Company, Abu Dhabi Securities Market, Global Investment House (Kuwait), and as a Board Member at National Bank of Abu Dhabi, Al Hilal Bank, Arab Banking Corporation and Qatar Telecom (Ooredoo). Combining extensive experience in both the public and private sector, he was responsible for overseeing, developing and enhancing strategic geopolitical, social and economic partnerships with several nations. And a Chairman at Emaar Malls PJSC and an Independent Director at Badwa Capital Ltd.He previously served on the board of The National General Insurance Company and Takaful House, both publicly listed insurance companies, and was appointed as the interim chairman of Dubai Bank after its takeover by Emirates NBD. The 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 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. ADIAs investment departments are responsible for building investment portfolios within the parameters set for them through the asset allocation process. In particular, it sets the goals, strategies and policies of the Bank. H.E Mohammed Al Shuwaidi holds a B.Sc. Thomas Arnold Board Member. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. Investment Stage Secondary Market. [12] ADIA also invests in development projects including malls. ADIA conducts its investment activities without reference to the Government of Abu Dhabi and has no visibility on the spending requirements of the Government or the activities of other Abu Dhabi-owned investment entities. Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. In July 2020, Dr Al Jaber was appointed Chairman of Emirates Development Bank, a key partner in providing financial services for the sustainable economic and social development of the UAE. Abu Dhabi Investment Authority has made 51 investments. The Board of Directors of the Emirates Investment Authority consists of a group of distinguished and accomplished individuals, led by His Highness Sheikh Mansour Bin Zayed Al Nahyan as its Chairman. [5] The goal was to invest the Abu Dhabi government's surpluses across various asset classes, with low risk. [10] How satisfied are you with the overall experience on our website? H.E. Emirates Investment Authority (EIA) is the only Sovereign Wealth Fund of the Federal Government of the United Arab Emirates. The Board of Directors (the "Board") is the Bank's principal decision-making forum. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. 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. 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. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. Mr. Al Kindi received an honorary doctorate from Eastern Michigan University, where he had previously earned a B.S. Post ADIA, he established Abu Dhabi Investment Council (ADIC) in 2007 and served as its Managing Director. Board Of Directors; CEO's Message; Staff. The assets of the fund are managed by the executive management team. H.E. Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. 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. Get the full list, Youre viewing 5 of 8 board members. H.E. The function is both administrative and strategic. Member of President Clinton America 2000 Task Force, Washington, DC., USA, Acting Chairman and Group CEO of Midmar Holding, Johannesburg, South Africa. H.E. She is an integral part of the team responsible for selecting, building and managing a portfolio of funds and relationships in Europe, Middle East & Africa. Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. 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. [12] ADIA also invests in development projects including malls. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. Click here for Terms of Reference for the Board of Directors. He is also a board member of the Economic Zones World and Dubai Real Estate Corporation. 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. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. 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. 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. in Economics. Saeed Almazrouei is the Deputy Platform CEO, Direct Investments, at Mubadala Investment Company PJSC. 4 of 2007 as amended by Federal Decree Law No. Even today, investment in short-term paper remains the strategy for the vast majority of countries. Kanoo has been investing on a personal and company level since 1991. 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. To read relevant policy please see below: The Board Secretariat delivers Board papers to the Board by means of a secure iPad application. MSc Business Administration, minor in Management Information Systems and Strategic Planning (Widener University, USA) 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. Decree establishes the EIA as sole Federal investment vehicle. Fatima Al Nuaimi was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. 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 EIA was established in 2007 through Federal Decree Law No. Also, he is a graduate of the UAE Government Leaders Program and Mohammed Bin Rashid Center for Leadership Development. Chartered Financial Analyst, (CFA Institute, USA) BSc Finance (Suffolk 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. 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. 17 May, 2021. In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . BSc Civil Engineering (Northeastern University, USA). 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. The board members currently serve for a period of three years, and can be renewed. In addition, Dr. Al Jaber served as Chairman of the Abu Dhabi Ports Company from 2009-2019. 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. Collectively, the Board possesses knowledge, experience and skills appropriate for the Bank. 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. Al Gergawi is also the Co-chairman of the Global Future Councils, a forward-looking think tank in cooperation with the World Economic Forum. The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Government. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . Mubadala Infrastructure Partners Limited, Chairman (2008), UAE, Cleveland Clinic Abu Dhabi LLC, Non-Executive Director (2010), UAE, GlobalFoundries Inc, Non-Executive Director (2012), USA, Mubadala Capital, Non-Executive Director, (2021), UAE, Borealis AG, Non-Executive Director (2020), Austria, Nova Chemicals Corporation, Non-Executive Director (2021), Canada, Aabar Investments PJSC, Non-Executive Director (2017), UAE, Abu Dhabi Retirement Pension & Benefits Fund (Operating Company), Non-Executive Director (2019), UAE, CEPSA - Compaa Espaola de Petrleos S.A., Non-Executive Director, Non-Executive Director (2019), Spain, OMV AG, Non-Executive Director (2021), Austria, International Petroleum Investment Company, Non-Executive Director, UAE, Yas Holding LLC, Non-Executive Director (2021), UAE. to the UAEs economy. ADIA is required to invest these funds in such a way to generate sustainable long-term returns, and to return funds to the Government of Abu Dhabi, as needed. The current board dates back to the April 2010 reshuffle (Emiri decree n4/2010) and it was fully renewed April 2013. 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. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 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. . ABU DHABI, Under the patronage of H.H. The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) . 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. All rights reserved. Mr. Al Badi holds a Bachelors degree in International Relations from Lewis & Clark College. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. 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 rights reserved. Assistant to the Deputy Director, Colo Dept. Al Ramz Corporation, one of the most active brokerages and investment companies in the UAE, trading member and clearing member in Dubai Financial Market DFM, Abu Dhabi Exchange and Nasdaq Dubai for equities, bonds, SUKUK and futures, also a market maker and liquidity provider in the local three markets. . In addition, he also served as Chairman of Waha Investment PrJSC, Waha Land LLC and Anglo Arabian Healthcare LLC). Investment Leadership Program (ILP) Working at EIA; Media & Resources; . Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. As a distinguished economist he became one of the top corporate turnover specialists and the most influential player in the history of UAE financial markets. 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. Director at Global Finance & Capital Ltd. Board Member of United Capital (ex UBA Capital). Establishment of Investment Process and Portfolio Management. 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. Compliance with anti-money laundering procedures and internal training in such procedures is also developed and administered by the Group Compliance department. in Accounting from United Arab Emirates University (UAEU). is also the former Director General of the Executive Office of H.H. 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. She also has an MBA in International Finance and is a member of the Institute of Management Accountants, IMA. Ahmed Saeed Al Calily, Chief Strategy and Risk Officer, Mubadala Investment Company M Ahmed serves as Mubadala's Chief Strategy & Risk Officer, where he is responsible for the company's Corporate Strategy, ESG, and Enterprise Risk Management framework. She also served on the boards of National Bank of Abu Dhabi, Al Hilal Bank and National Takaful Co. Watania and was a Director in the Global Special Situations Department at the Abu Dhabi Investment Council. 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.
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