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. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. Mr. Quarta graduated from the College of the Holy Cross. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. 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. Dr. Al Jaber also holds several leadership roles and advisory positions and counsels on issues related to Energy, Economics, Strategic Communications & Sustainable Development. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . The Board iPad application is also used to provide Directors with access to other relevant information, and induction documentation. 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. Board Member, Ely Lilly Foundation, Indianapolis, IN, USA. Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. to the UAEs economy. 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. Investments ADIA manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories. 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. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. 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. 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. 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. Board Of Directors; CEO's Message; Staff. 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. 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. 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 scope of the audit is agreed between the Audit Committee and the auditor. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. However, all loans are made on arms' length terms. 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. Over this decade, AD Ports has become a thriving business, turning a profit two years ahead of the approved business plan. According to the Sovereign Wealth Fund . The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. Directors are eligible to receive, and have received, loans from the Bank. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. Board papers are delivered at least 3 business days before each Board meeting. 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. For over 50 years, the Group has played . 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. H.E. Contact Email dg_dgm@yahoo.in. As Vice Chairman and Managing Director of Dubai Future Foundation, he heads an entity tasked with implementing the Dubai Future Agenda. In addition, an external consultant will be appointed to independently evaluate the performance of the Board, Board Committees and individual Directors at least once every three (3) years. Dr. Al Jaber has initiated a program of increased efficiencies, strengthened ADNOCs overall performance and fostered a more commercial mindset. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. Abu Dhabi Investment Authority has 3 board members and advisors, including Shubhrawpratap Dasgupta. Click here for Terms of Reference for the Board of Directors. In this role, he also spearheaded many initiatives to get the pulse of the people and know their sentiments, as well as build the UAEs long-lasting relations with international organizations such as the World Economic Forum. VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). Al Gergawi is the Board Chairman of the Federal Competitiveness and Statistics Authority (FCSA), the government body responsible for developing and enhancing the countrys performance in the areas of global competitiveness and statistics. H.E. Overview We are the Abu Dhabi Investment Office - ADIO. 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. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. Sheikh Mansour Bin Zayed Al Nahyan Chairman H.H. He was previously elected by ADCB shareholders to join the ADCB Board of Directors in March 2009 and was re-elected by the ADCB shareholders to join the ADCB Board of Directors in 2022. Mr. Al Kindi received an honorary doctorate from Eastern Michigan University, where he had previously earned a B.S. The most relevant comments from the evaluation are presented to the Board, in the form of an action list, and its implementation is monitored by the Board's Nomination, Compensation, HR & Governance Committee. As a custodian of the Federal assets of the United Arab Emirates, the EIA is mandated to strategically invest funds allocated by the Federal Government to create long-term value for the UAE and contribute to the future prosperity of the country. 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. He has completed a General Management Program from Harvard Business Schools and holds Bachelor in Business Administration with Honours. 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. 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. In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . Collectively, the Board possesses knowledge, experience and skills appropriate for the Bank. Investment Leadership Program (ILP) Working at EIA; Media & Resources; . Abu Dhabi Investment Authority 's most notable . In June 2021, Aysha moved to the Abu Dhabi Investment Authoritys newly created Core Portfolio Department to help develop its comprehensive strategy. 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. Establishment of Investment Process and Portfolio Management. Assistant to the Deputy Director, Colo Dept. in Accounting from United Arab Emirates University (UAEU). Get the full list, Youre viewing 5 of 8 board members. The Bank's policy is to, so far as possible, engage in transactions with related parties (including Directors) only on arm's-length terms. Sheikh Mansour bin Zayed Al Nahyan,. H.H. Even today, investment in short-term paper remains the strategy for the vast majority of countries. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). 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. Mr. Al Badi has more than 35 years of experience in the government and private sector. Sheikh Zayed does not hold any external directorships. The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. H.E. BSc Business Management (University of Sussex, UK). 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. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. Begins to serve as advisor to Cabinet on key assets and corporate governance. ABU DHABI, Under the patronage of H.H. The Abu Dhabi Investment Council is an investment arm of the Government of Abu Dhabi. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. Its responsibilities also include reviewing the appropriateness and effectiveness of the Group's risk management systems and controls, reviewing the outcome of stress tests and the Bank's stress-testing methodology, overseeing the Management Risk Committees and ensuring that the Bank's risk governance is supportive of prudent risk-taking at all levels in the Bank. . Devoting his career to progress, bold ideas and teamwork, His Excellency has positioned ADIO to always seek new ideas and challenges in order to promote Abu Dhabi globally. Prior to his appointment, H.E. H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. The Board of Directors (the "Board") is the Bank's principal decision-making forum. 13 of 2009. 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. Copyright 2023 ADCB. H.H. 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. 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 Reporting to H.H., the Managing Dir. 17 May, 2021. BSc Computer Information Systems (Bethune Cookman College, USA). He also sits on a number of boards, including AXA and Emirates Post Group. H.E Mohamed Hassan Alsuwaidi. 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%. 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. View Biography Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. Mansour bin Zayed . The Boards Nomination, Compensation, HR & Governance Committee is responsible to ensure that independent directors remain independent on a continuous basis. 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 We quickly established a formal, three-stage investment process consisting of: rigorous pre-screening and initial due diligence; followed by Investment Committee review and debate; and final investment decision-making from our Executive Committee. 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. As the central government hub supporting investment in Abu Dhabi, we are committed to growing the emirate's private sector and diversifying its economy. 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.
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