Sheikh Hamed succeeds his late brother as head of ADIA
Royal takes position held by Sheikh Ahmed bin Zayed Al Nahyan, who died in a glider plane crash last month.
April 14, 2010 5:02 by kippreport
Sheikh Hamed Bin Zayed Al Nahyan has succeeded his late brother Sheikh Ahmed as managing director of the Abu Dhabi Investment Authority (ADIA).
He takes the position following the tragic death of his brother Sheikh Ahmed, who died in a glider plane crash last month.
The appointment was made in a decree from Sheikh Khalifa bin Zayed Al Nahyan, UAE president and ruler of Abu Dhabi, who is also the chairman of ADIA.
ADIA, which is believed to have assets of up to $700 billion, is considered to be among the world’s biggest sovereign wealth funds. Between 35-50 percent of ADIA’s investments are typically in North America, and another 25-35 percent are in Europe.
Sheikh Hamed is also chief of the Crown Prince of Abu Dhabi’s Court and a chairman of General Holding Corp.