The Supreme Council for Financial and Economic Affairs has issued a resolution to reconstitute the boards of Abu Dhabi wealth funds Mubadala Investment Company and the Abu Dhabi Investment Authority, Abu Dhabi Media Office said.
Mubadala, Abu Dhabi’s sovereign investment arm, will be chaired by Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of the Presidential Court, the media office said in a statement on Thursday.
The other board members include Sheikh Theyab bin Mohamed, chairman of Crown Prince Court; Khaldoon Al Mubarak, who will serve as managing director; Suhail Al Mazrouei, Minister of Energy and Infrastructure; Dr Sultan Al Jaber, Minister of Industry and Advanced Technology; Abdulhamid Saeed; and Saif Saeed Ghobash.
Mubadala, which is at the centre of the UAE's efforts to diversify its economy, manages more than $284 billion in assets globally.
In recent years, it has stepped up its investments in health care, technology, mobility, clean energy and life sciences as it expands its portfolio.
This month, it bought a 20 per cent stake in US insurance broker Truist Insurance Holdings for $1.95 billion along with private equity firm Stone Point Capital and other investors.
In July, Mubadala also led a $400 million investment round in Berlin-based digital insurance company Wefox to help it grow internationally.
The Supreme Council also issued a resolution to reconstitute the board of directors of Adia, which will be chaired by Sheikh Tahnoun bin Zayed, National Security Adviser, the media office said.
Its board members include Sheikh Mansour bin Zayed; Sheikh Hamed bin Zayed, who will serve as managing director; Sheikh Khaled bin Mohamed; Khalil Foulathi; Jassem Al Zaabi; and Hamad Al Suwaidi.
Adia, one of the world's biggest sovereign wealth funds, makes investments across asset classes such as equities, fixed income, infrastructure, private equity and property.
In December, it launched its new innovation centre, starting operations with the announcement of a $100,000 research award that focuses on investment strategies.
Ibrahim's play list
Completed an electrical diploma at the Adnoc Technical Institute
Works as a public relations officer with Adnoc
Apart from the piano, he plays the accordion, oud and guitar
His favourite composer is Johann Sebastian Bach
Also enjoys listening to Mozart
Likes all genres of music including Arabic music and jazz
Enjoys rock groups Scorpions and Metallica
Other musicians he likes are Syrian-American pianist Malek Jandali and Lebanese oud player Rabih Abou Khalil
COMPANY PROFILE
Name: Cofe
Year started: 2018
Based: UAE
Employees: 80-100
Amount raised: $13m
Investors: KISP ventures, Cedar Mundi, Towell Holding International, Takamul Capital, Dividend Gate Capital, Nizar AlNusif Sons Holding, Arab Investment Company and Al Imtiaz Investment Group
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Five films to watch
Castle in the Sky (1986)
Grave of the Fireflies (1988)
Only Yesterday (1991)
Pom Poki (1994)
The Tale of Princess Kaguya (2013)
