The board of directors of Abu Dhabi Investment Council, an investment arm of the Abu Dhabi government, has been reshuffled under the chairmanship of H.H. Sheikh Mohamed bin Zayed Al Nahyan.
Sheikh Mohammed bin Zayed, who is Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, replaces H.H. President Sheikh Khalifa bin Zayed Al Nahayan at the head of the Council.
A presidential decree also named the following dignitaries as members of the board of Abu Dhabi Investment Council: H.H. Sheikh Sultan bin Zayed Al Nahyan, the President’s Representative, H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs, H.H. Sheikh Hamed bin Zayed Al Nahyan, Chief of the Abu Dhabi Crown Prince’s Court, H.E. Mohammed Habroush Al Suwaidi, Advisor to the President, H.E. Isa Mohammed Al Suwaidi (Managing Director) and H.E. Younis Haji Khoori, Undersecretary of Ministry of Finance.
Abu Dhabi Investment Council was spun off in 2007 from the Abu Dhabi Investment Authority to invest part of the government’s surplus financial resources in equities, debt instruments and real estate in the UAE and abroad.
It holds majority stakes in several Abu Dhabi banks including National Bank of Abu Dhabi. It has assets under management of around USD 111 billion, according to industry tracker the Sovereign Wealth Center.