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 ABU DHABI, H.H. 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. 13 of 2009. 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. ADCB has implemented a Directors' conflicts of interest policy. The function is both administrative and strategic. [2][3][4], In 1967, Abu Dhabi emirate created the Financial Investments Board which operated within its Department of Finance and was responsible for managing the Emirate's excess oil revenues. 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. In addition, he serves as a member of the Board Directors in Emirates Investment Authority. Board of Directors Members and Their Duties | AD Ports Group Board of Directors - Gulf Capital 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. H.E. The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. As nephew and son in law of Ajman ruler he played a major role in the development of UAE from a desert to an oasis. [6] ADIA's global portfolio is broken down into sub-funds covering a specific asset class. She is an integral part of the team responsible for . 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. Site Advisory: Fraud Warning; . 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. in Economics. The Boards Nomination, Compensation, HR & Governance Committee is responsible to ensure that independent directors remain independent on a continuous basis. Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. Sheikh Mansour Bin Zayed Al Nahyan Chairman H.H. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. 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. He serves on the board of Emirates Global Aluminum-the fifth largest aluminum company in the world. H.H. Begins to serve as advisor to Cabinet on key assets and corporate governance. Dr. Al Jaber continues to serve as Chairman of Masdar, guiding its strategic direction. BSc Business Finance (Lewis &Clark College, USA). 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). 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. 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. MSc Business Administration, minor in Management Information Systems and Strategic Planning (Widener University, USA) Playing a role in bettering peoples lives is a great instigator for doing what he does. 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. 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. Jan Schuster Portfolio Manager - Private Equity Division. 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. This is a profile preview from the PitchBook Platform. The excitement of helping others achieve their goals, both big or small, is what drives him. 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. Abu Dhabi Investment Group (ADIG) is the investment arm of Bin Aweidha Holding and based in Abu Dhabi. Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. According to the Bank's articles of association, all Directors are required to seek re-election by shareholders every three years. She became an Investment Manager in 2012. In the context of strengthening cooperation between AAAID and Abu Dhabi Chamber of Commerce and Industry, a memorandum of understanding was signed that aimed He has also been Chairman of Emirates Financial Services. Kaltham is a graduate of the American University in Dubai, specializing in Business Administration. Aysha Al Hallami does not hold any external directorships. 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 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. The core mandate of the ministry is to increase industrial competitiveness and help drive economic growth by catalyzing the diversification of the UAEs economy. ABU DHABI, Under the patronage of H.H. 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. 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. Shareholder support in Economics and Politics from Bristol University, and obtained an M.A. 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. She has over ten years of experience in funds and direct private equity investments. Board of Directors | Abu Dhabi Investment Group Over this decade, AD Ports has become a thriving business, turning a profit two years ahead of the approved business plan. 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. Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. H.E is the Chairman of Emirates Water & Electricity Company and the Vice Chairman of Abu Dhabi Power Corporation and a member of the Board of Directors for Emirates Global Aluminum, Aramex Logistics Company, Minas de Aguas Teidas Copper Mine, Sociedad Minera de . Air Arabia Abu Dhabi - Wikipedia She has also successfully completed the General Management Program at Harvard Business School. Any candidate for appointment as a Director must first be considered and approved by the Board's Nomination, Compensation, HR & Governance Committee. 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 . ABU DHABI, Under the patronage of H.H. BSc Computer Information Systems (Bethune Cookman College, USA). 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 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. Assistant to the Deputy Director, Colo Dept. Compliance with anti-money laundering procedures and internal training in such procedures is also developed and administered by the Group Compliance department. The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. Please refer to ADCBs annual report for further details on Directors remuneration. In 2013 and 2014 we were entrusted with the custody of three additional strategic assets Emirates Post, Emirates Transport and Al Masraf bank. 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. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. The BRC also guides management on risk appetite across sectors, geographies and customer types. [5] The goal was to invest the Abu Dhabi government's surpluses across various asset classes, with low risk. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. 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.