Sheikh Tahnoun Named as New Chairman of the Abu Dhabi Investment Authority
Posted on 03/09/2023
On March 9, 2023, the Supreme Council for Financial and Economic Affairs issued a resolution to reconstitute the Board of Directors of Abu Dhabi Investment Authority (ADIA). The new Chairman of ADIA is Sheikh Tahnoun bin Zayed Al Nahyan. Sheikh Tahnoun bin Zayed Al Nahyan is head of Abu Dhabi-based Royal Group, Chairman of Abu Dhabi Developmental Holding Company PJSC (ADQ), Chairman of First Abu Dhabi Bank, and also a national security adviser. Sheikh Tahnoun bin Zayed Al Nahyan previously served as Deputy National Security Advisor in 2013. He is part of the ruling family in Abu Dhabi.
Other board members of ADIA include: Sheikh Hamed bin Zayed Al Nahyan, who will sit as Managing Director; Sheikh Khaled bin Mohamed bin Zayed Al Nahyan (son of MBZ); Khalil Mohammed Sharif Foulathi; Jassem Mohamed Bu Ataba Al Zaabi; and Mohammed Al Hurr Al Suwaidi.
Mubadala
On another note, Sheikh Mansour bin Zayed Al Nahyan will chair the Board of Directors of Mubadala Investment Company. Sheikh Mansour bin Zayed Al Nahyan is the Deputy Prime Minister of the United Arab Emirates, Chairman of the Emirates Investment Authority, and Minister of Presidential Affairs. The other board members are Sheikh Theyab bin Mohamed bin Zayed Al Nahyan (Chairman of Crown Prince Court and fourth son of MBZ); Khaldoon Khalifa Al Mubarak, who will remain as Managing Director; Suhail Mohamed Al Mazrouei; Dr Sultan Ahmed Al Jaber (Chief Executive Officer of Abu Dhabi National Oil Company ADNOC); Abdulhamid Mohammed Saeed; and Saif Saeed Ghobash.
MBZ and Bani Fatima
Sheikh Khalifa bin Zayed bin Sultan Al Nahyan, the second president of the United Arab Emirates and the ruler of Abu Dhabi, died on May 13, 2022.
Sheikh Mohamed bin Zayed Al Nahyan (MBZ) is the new ruler and has reshuffled the boards of ADIA and Mubadala Investment Company. MBZ stepped down from both boards and gave the chairman roles to Sheikh Tahnoun bin Zayed Al Nahyan at ADIA and Sheikh Mansour bin Zayed Al Nahyan at Mubadala Investment Company.
MBZ, Tahnoun bin Zayed Al Nahyan, and Mansour bin Zayed Al Nahyan, are brothers and part of Bani Fatima. They are part of the six sons of Sheikh Zayed with his third wife, Sheikha Fatima bint Mubarak Al Ketbi.