On Wednesday last it was revealed that a distinguished member of Abu Dhabi’s first family has been appointed to the position of Managing Director for the Abu Dhabi Investment Authority. This organization more commonly known as Adia is considered to be one of the wealthiest sovereign funds in the world at present.
Sheikh Hamid bin Zayed al-Nahyan is a young man in his thirties and he hails from Abu Dhabi’s most prominent ruling family and he is replacing the position his brother held before being tragically killed last month after his glider crashed into a lake in Morocco.
Adia’s new Managing Director is already a prominent figure within the Abu Dhabi government and has several positions some examples being the chairman of Etihad Airways and the deputy chairman of the Abu Dhabi Council for Economic Development. He performs these duties along with being a very dedicated member of the court of the crown prince Sheikh Mohammed bin Zayed al-Nahyan.
Adia currently has approximately $450 billion in assets which have been largely accumulated due to Abu Dhabi being in possession of more than 90% of the oil reserves present in the United Arab Emirates. Adia’s function is to invest the surplus funds made through the regions oil production and invest it wisely to ensure there will always be excess funds available when required.Paul Holdsworth, Staff Writer, Gulf Jobs Market News