She is an integral part of the team responsible for . 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.
FAB's Board of Directors have huge and various experiences in different fields and domains giving the bank a strong stand. Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. MSc International Securities Investment and Banking (University of Reading, UK)
Board papers are delivered at least 3 business days before each Board meeting. Mr. Quarta graduated from the College of the Holy Cross. 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. The Boards Nomination, Compensation, HR & Governance Committee is responsible to ensure that independent directors remain independent on a continuous basis. Kaltham is a graduate of the American University in Dubai, specializing in Business Administration. Win whats next. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. Sheikh Mansour bin Zayed Al Nahyan, How satisfied are you with the overall experience on our website? H.E. It is the responsibility of Banks Board of Directors to: Control activities are closely monitored across the Bank by the Banks internal audit function, working independently of management. H.E.
In 2008, ADIA co-chaired the International Working Group of 26 sovereign wealth funds that produced the "Generally Accepted Principles and Practices of sovereign wealth funds" (known as the Santiago Principles). 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. Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. The $7 billion investment in Citigroup has lost approximately 90% of its value as of 26 November 2009, 2 years after it acquired a sizable stake in the bank. He has also been Chairman of Emirates Financial Services. 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. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. Staff. The firm carries out its investment program independently and without reference from the Government of Abu Dhabi. H.E. 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). Begins to serve as advisor to Cabinet on key assets and corporate governance. The Board of Directors and the management team regularly discuss and refine the Bank's strategy and objectives. Al Marri is a member of the Boards of Directors of different federal entities. BSc Business Sciences, Finance (Zayed University, UAE). Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. 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. It often buys partial interest ownerships with leading real estate managers. The Abu Dhabi Investment Council is an investment arm of the Government of Abu Dhabi. Abu Dhabi Investment Group (ADIG) is the investment arm of Bin Aweidha Holding and based in Abu Dhabi. Chief Financial Officer, Private Equities Department, Youre viewing 5 of 29 commitments. Beginning his career at the Abu Dhabi National Oil Company, H.E. 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. Investment Leadership Program (ILP) Working at EIA; Media & Resources; . Sheikh Zayed bin AweidhaMANAGING DIRECTOR, Dr. Ahmed Abdulla Ghaith Al SuwaidiBoard Member. The solid performance of our initial portfolio as well as the rapid development of our investment platform and capability meant we were quickly entrusted by the Federal Government with further assets to manage and invest on behalf of the nation. 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. 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. Carlos Obeid joined the ADCB Board of Directors in 2019. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi
The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. Establishment of Investment Process and Portfolio Management. In addition, Dr. Al Jaber served as Chairman of the Abu Dhabi Ports Company from 2009-2019. This includes both developed and emerging markets, EIA has investments in the Americas, Europe, Asia and the Middle East. 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 Board of Directors (the "Board") is the Bank's principal decision-making forum. Hussain Jasim Naser Al Nowais joined the ADCB Board in 2019. Contact. Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. 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. According to the Sovereign Wealth Fund . Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. He is a UAE national, coming from a prominent family of businessmen primarily engaged in trading sector businesses. The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) . BSc Computer Information Systems (Bethune Cookman College, USA). Since being appointed Group CEO of ADNOC in 2016, Dr. Al Jaber has spearheaded a rapid and comprehensive transformation of the company at the direction of the UAE leadership. 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. She is also a CFA and CAIA charter holder. Using prudent investment strategies in accordance with global best practice, the EIA . Reporting to H.H., the Managing Dir. Feedback. Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. MSc Civil Engineering (Northeastern University, USA)
In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . in Economics. 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. 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. A performance evaluation of the Board, Board Committees and individual Directors is conducted on an annual basis. Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. As Chairman of the Board, H.H. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. 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. 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. Al Kindi received an honorary doctorate from Eastern Michigan University, where he had previously earned a B.S. H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. Abu Dhabi Investment Authority has made 51 investments. Even today, investment in short-term paper remains the strategy for the vast majority of countries. 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. According to the Bank's articles of association, all Directors are required to seek re-election by shareholders every three years. Their most recent investment was on Dec 7, 2022, when Craftsman Automation raised Abu Dhabi Investment Authority has made 2 diversity investments. H.E. Degree in Economics & Finance (Tufts University, USA). However, improvement of control activities is an ongoing process at ADCB that includes identification, evaluation and management of significant risks faced by the Bank. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . ADIAs Managing Director has responsibility for implementing ADIAs strategy and its investment and operational activities. 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. MSc Computer Science (University College London, UK)
Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. 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. | Advanced search Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. 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 Reporting to H.H., the Managing Director his current responsibilities at ADIA include asset allocation, portfolio management and strategic decisions. PitchBooks data visualizations help you see a limited partners commitmentsshowing a breakdown of activity by fund type and region, complete with performance metrics. BSc Business Management (University of Sussex, UK). Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. Skilled in Real Estate & Private Equity Risk Due Dilligence. Board Of Directors - EIA H.H. . Board Of Directors; CEO's Message; Staff. ADIAs investment departments are responsible for building investment portfolios within the parameters set for them through the asset allocation process. She became an Investment Manager in 2012. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. 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. 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. 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. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. Chartered Financial Analyst, (CFA Institute, USA)
Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 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. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. View Biography His dedication to advancing the United Arab Emirates has been demonstrated through numerous director and chairman roles in major financial institutions and government bodies: Chairperson of the Board of UAE Central Bank, Chairperson of the National Bank of Abu Dhabi, Member of the Supreme Petroleum Council, Board Member of ADIA, Chairman of Abu Dhabi National Insurance Company, Member of Allianz International Advisory Board and Chairperson of the Arab Banking Corporation. [12] ADIA also invests in development projects including malls. H.E. His memberships allow him to actively support the development of priority sectors in the country such as the Golden Visa initiative, which seeks to attract talented individuals from across the world. Investment Stage Secondary Market. 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. 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. 2023 PitchBook. 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. 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. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. H.E Mohamed Hassan Alsuwaidi. H.E.
Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July . His Excellency holds a PhD in Economics from Imperial College, London. Andrew Kripke Director, Portfolio Manager - US Team. 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. In addition, Mr. Quarta is chairman of WPP plc and Smith & Nephew plc. [4], The operations of ADIA have historically and to the present been secretive and opaque. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. There is a clear division of responsibilities between the respective roles and responsibilities of the Chairman and the GCEO. Abu Dhabi Investment Authority 's most notable . The principal activities of the company are dealing Managing Investment and operating funds, in addition to Arranging, Advising and Custody. The Bank's policy is to, so far as possible, only engage in transactions with related parties (including Directors) on arm's length terms. 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. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. H.E. 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. In order to deliver against these objectives, management regurlarly develops and renews detailed strategic plans that operate across the Bank's businesses. H.E. [1], ADIA's operations have been characterized as secretive and opaque. ADIA does not seek to manage or take an operational role in the companies in which it invests. Sheikh Mohammed bin Khalifa bin Zayed Al Nahyan H.E. [11], Today ADIA invests in all the international markets equities, fixed income and treasury, infrastructure, real estate, private equity and alternatives (hedge funds and commodity trading advisers CTAs). Group 42 is an artificial intelligence and cloud computing company that was founded in Abu Dhabi, United Arab Emirates in 2018. H.E Mohammed Al Shuwaidi holds a B.Sc. 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. [4][2], The fund is a member of the International Forum of Sovereign Wealth Funds. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). 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. 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. 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. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . 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 Our team helps investors and companies of all sizes establish their business, grow and develop in Abu Dhabi. Collectively, the Board possesses knowledge, experience and skills appropriate for the Bank. The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. Board Of Directors; CEO's Message; Staff. Its primary directive is to manage the sovereign wealth of the UAE by investing in a diversified portfolio of assets in key economic sectors and industries with the aim of delivering sustained financial gains for the UAE. He started his career at Abu Dhabi Investment Authority in the year 1982. It often buys partial interest ownerships with leading real estate managers. Copyright 2023 ADCB. 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. The Board monitors the performance of the Bank's businesses and guides and supervises the Bank's management. The roles of the Chairman and the GCEO are separate and each is held by a suitably experienced individual. 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. Assistant to the Deputy Director, Colo Dept. in Business Administration. 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. 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. [5] The goal was to invest the Abu Dhabi government's surpluses across various asset classes, with low risk. Fatima Al Nuaimi was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. In addition, the risk management and compliance functions monitor control activities on an ongoing basis. The Board of Directors is the highest authority within the Council and is composed of a Chairman, Managing Director and other board members, all of whom are senior government officials appointed by Decree from the Ruler of . United Arab Emirates, Emirates Investment Authority All Rights Reserved 2023. The Board Secretariat maintains a conflicts register that is regularly reviewed by the Nomination, Compensation, HR & Governance Committee. It will be backed by a major commitment from the Authority. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. 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. Dr. Al Jaber has initiated a program of increased efficiencies, strengthened ADNOCs overall performance and fostered a more commercial mindset. 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. 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. Board of directors. 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 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. 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.