The Executive Affairs Authority of the Emirate of Abu Dhabi today announced the "Al Masdar" Initiative. PitchBooks data visualizations help you see a limited partners commitmentsshowing a breakdown of activity by fund type and region, complete with performance metrics. The Banks internal controls over financial reporting include policies and procedures that (i) are designed to ensure maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Bank; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles, and that receipts and expenditures of the Bank are being made only in accordance with authorizations of management and directors of the Bank; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Banks assets that could have a material effect on the financial statements. 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. This includes both developed and emerging markets, EIA has investments in the Americas, Europe, Asia and the Middle East. In 2013 and 2014 we were entrusted with the custody of three additional strategic assets Emirates Post, Emirates Transport and Al Masraf bank. Executive Director of the Institute of Multi-Cultural Studies, University of Denver, Colo, USA. 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. H.E. Director at Global Finance & Capital Ltd. Board Member of United Capital (ex UBA Capital). Dr Sultan Al Jaber | Masdar Chairman and COP 28 President - Masdar.ae 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. 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 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. These investment departments, which invest across multiple geographies, have discretion over the origination and recommendation of investment proposals. [13], Many of ADIA's investments have decreased substantially since investments were made at market peaks in 2007 and 2008. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. 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. 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. Establishment of Investment Process and Portfolio Management. Mansour bin Zayed . Al Mubarak held a number of positions at Tawazun Economic Council, formerly known as UAE Offsets Group, before assuming his current portfolio of responsibilities. MSc Computer Science (University College London, UK) His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Government. Emirates Investment Authority (EIA) is the only Sovereign Wealth Fund of the Federal Government of the United Arab Emirates. 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. ADIA Lab announces Advisory Board, academic collaborations and BSc Business Sciences, Finance (Zayed University, UAE). H.E. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. Investment Stage Secondary Market. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. [8] Due to its size, the fund has been influential in international finance. 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. General Information Description Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. H.H. Aysha Al Hallami does not hold any external directorships. ADIAs assets are not classified as international reserves. Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 Tailored induction programmes are arranged for all newly appointed Directors. Citigroup to sell equity to Abu Dhabi investors - chron.com Dr. Al Jaber continues to serve as Chairman of Masdar, guiding its strategic direction. Governance structures in place- kick starts reputation as standard-bearer for good governance. Using prudent investment strategies in accordance with global best practice, the EIA . The Bank's policy is to, so far as possible, only engage in transactions with related parties (including Directors) on arm's length terms. [6][citation needed], In the Bank of Credit and Commerce International scandal of the 1990s, ADIA reportedly lost hundreds of millions of dollars. 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. 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. Air Arabia Abu Dhabi is Etihad Airways' first major investment, a change from its long-held relationship strategy of airline equity partnerships. Overall between 70% and 80% of the organization's assets are managed outside, and over the last few years the fund has become more indexed which given its unique asset liability structure is somewhat perplexing. 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. Mr. Al Kindi received an honorary doctorate from Eastern Michigan University, where he had previously earned a B.S. Ensure that effective measures are in place to safeguard the Banks assets; Ensure proper accounting records and reliable financial information by procedures designed to avoid or reduce risks and ensure compliance with applicable laws and regulations; Ensure that an adequate and effective system of internal controls and procedures is established and maintained; and. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. Sheikh Mansour bin Zayed Al Nahyan, How satisfied are you with the overall experience on our website? is also the former Director General of the Executive Office of H.H. [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. 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. The Bank's policy is to, so far as possible, engage in transactions with related parties (including Directors) only on arm's-length terms. Phone Number (971) 241-5000. EIA invests into a globally diversified investment portfolio. 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. The function is both administrative and strategic. Khalifa Al Kindi is a Managing Partner and Co-Founder of Abu Dhabi-based Liwa Capital Advisors. 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. 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. 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. Established in 2007, the EIA has actively sought unique investment opportunities locally, regionally and internationally, focusing on investing in asset classes that will help strengthen and diversify the UAE economy. Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. Both loans will require onlending . His Excellency holds a PhD in Economics from Imperial College, London. Playing a role in bettering peoples lives is a great instigator for doing what he does. According to the Sovereign Wealth Fund . 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. Thomas Arnold Board Member. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America.
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