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. 13 of 2009. [1], ADIA's operations have been characterized as secretive and opaque. The roles of the Chairman and the GCEO are separate and each is held by a suitably experienced individual. 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. 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 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. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. ABU DHABI, Under the patronage of H.H. Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. 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. 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. In addition, the risk management and compliance functions monitor control activities on an ongoing basis. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). 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 He also chairs the World Government Summit, a global platform focused on shaping the future of governments. During his tenure, Dr. Al Jaber oversaw the completion of Khalifa Port, Abu Dhabis flagship, fastest growing deep water port as well as Khalifa Industrial Zone Abu Dhabi (KIZAD), Abu Dhabis first integrated trade, industrial and logistics free zone. Abu Dhabi Investment Authority has 3 board members and advisors, including Shubhrawpratap Dasgupta. ADIA's Board of Directors meets periodically, as required for the establishment and review of ADIA's strategic policy, as part of its oversight of ADIA. How satisfied are you with the overall experience on our website? [6][citation needed], In the Bank of Credit and Commerce International scandal of the 1990s, ADIA reportedly lost hundreds of millions of dollars. Mr. Al Badi has more than 35 years of experience in the government and private sector. The BRC also guides management on risk appetite across sectors, geographies and customer types. BSc Finance (Suffolk University, USA). 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. 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. A seasoned banker with strong leadership skills across all facets of the business and with extensive expertise in strategy, finance, risk, investment, credit and corporate governance. 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. . The Board of Directors and the management team regularly discuss and refine the Bank's strategy and objectives. As Chairman of the Board, H.H. The Bank's policy is to, so far as possible, engage in transactions with related parties (including Directors) only on arm's-length terms. 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. H.E Mohammed Al Shuwaidi holds a B.Sc. Mansour bin Zayed . Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. in Economics. He also sits on a number of boards, including AXA and Emirates Post Group. ADIAs investment departments are responsible for building investment portfolios within the parameters set for them through the asset allocation process. The Bank is subject to five main sources of regulation and supervision: Directors' remuneration is set annually by the Board following delegation from the Bank's shareholders. Mansour bin Zayed chairs meeting of EIA Board of Directors. 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. Begins to serve as advisor to Cabinet on key assets and corporate governance. It has overall responsibility for leading, supervising and controlling the Bank and is accountable to the shareholders for creating and delivering sustainable shareholder value through its guidance and supervision of the Bank's business. [4][2], The fund is a member of the International Forum of Sovereign Wealth Funds. 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. All rights reserved. Carlos Obeid is the Group Chief Financial Officer of Mubadala Investment Company PJSC and is responsible for managing the organisations Business Finance including Treasury and Investor Relations, Financial Planning and Business Performance, and Financial Governance and Reporting. 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. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. The Board Secretariat maintains a conflicts register that is regularly reviewed by the Nomination, Compensation, HR & Governance Committee. 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. Saeed Almazrouei was appointed to the ADCB Board of Directors in 2019. She has over ten years of experience in funds and direct private equity investments. Using prudent investment strategies in accordance with global best practice, the EIA . ADCB has implemented a Directors' conflicts of interest policy. 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. The programme comprises a comprehensive Directors' induction pack, meetings with other Directors and senior management, as well as comprehensive guidance on the duties and responsibilities of Directors, the Bank's policies and procedures and relevant legal and regulatory requirements. H.E. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi Saeed Almazrouei is the Deputy Platform CEO, Direct Investments, at Mubadala Investment Company PJSC. 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. Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. The board members currently serve for a period of three years, and can be renewed. 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. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. Sheikh Mohammed bin Rashid Al Maktoum. Thomas Arnold Board Member. Fatima graduated magna cum laude from the Higher Colleges of Technology with a B.S. The Executive Affairs Authority of the Emirate of Abu Dhabi today announced the "Al Masdar" Initiative. All rights reserved. Private Equity and Venture Capital, (Harvard Business School, USA) Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. | Advanced search Advisor to the Nigerian Minister of Communications. 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. [12] ADIA also invests in development projects including malls. Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. 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 The Bank provides Directors with opportunities to update and develop their skills and knowledge through external seminars, regular presentations from senior management, and relevant reading materials.