International Holding Company, the UAE’s largest company by market capitalisation, has appointed a new board to lead the next phase of growth at its investment unit 2PointZero Group, with Sheikh Zayed bin Hamdan named as chairman.
Sheikh Zayed, formerly chairman of 2PointZero, will now lead the merged entity formed from IHC portfolio companies 2PointZero, Multiply Group and Ghitha Holding, which is listed on ADX.
Mariam Almheiri, managing director of 2PointZero, will become vice chairwoman, IHC said in a statement on Tuesday to Abu Dhabi Securities Exchange, where its shares are traded.
Other board members include Mohamed Alsuwaidi, Minister of Investment, and ADQ group chief executive; Syed Basar Shueb, managing director and chief executive of IHC; and Samia Bouazza, chief executive of 2PointZero.
Maryam Eid Almheiri, chairwoman of Abu Dhabi Media Office; Mohammed Ajalyaqin, vice chairman of IHC; Sofia Lasky, board member of IHC; and Richard Gerson, chief executive of Alpha Wave Global, will also sit on the new board.
“The calibre of this board reflects the responsibility and ambition entrusted to the Group,” Sheikh Zayed said. “Together, we will guide 2PointZero as it strengthens its global presence, drives strategic growth and contributes meaningfully to sustainable economic development.”
2PointZero is a global investment platform operating across the energy and consumer sectors, with a combined asset base of approximately Dh120 billion ($32.67 billion) and a presence in more than 85 countries.
Mr Shueb said: “With the board now formally constituted and leadership confirmed, 2PointZero enters its next chapter with clarity, strength and momentum.
“This governance framework brings together deep experience across investment, operations and public leadership, reinforcing our commitment to building enduring institutions that create value across cycles and at scale.”
2PointZero shares were trading at Dh2.74 at 10.57am UAE time, unchanged from its previous close, with a market capitalisation of Dh94 billion.
In an interview to The National in November, Ms Bouazza outlined the investment strategy of the company and said the rise of the middle class, particularly in Asia, was central to the group's investment logic.
The group is considering business in Asia with "eyes wide open, looking strategically, proactively and also opportunistically", said Ms Bouazza.
"We're actively looking at three deals currently in Asia, in addition to the existing agreements that 2PointZero has had with Adani [Group] in terms of renewables in India, which will kick in in the next few years."
