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Abu Dhabi - Shaikh Hamed Bin Zayed Al-Nahyan.

On April 14, 2010, Shaikh Hamed was named as chairman and CEO of ADIA, which is the world's second largest SWF next to China's. Shaikh Hamed, then 39, succeeded his brother Shaikh Ahmad who died in the previous month after his glider crashed into a lake in Morocco. Shaikh Hamed already holds several other top posts, including chairman of Etihad Airways and deputy chairman of the Abu Dhabi Council for Economic Development (ADCED) as well as heading the diwan (court) of Crown Prince Shaikh Muhammad bin Zayed. His position made Shaikh Muhammad in more direct control over ADIA.

ADIA, as the main vehicle, has invested Abu Dhabi emirate's surpluses for future generations. This SWF was set up in 1976 and employs more than 1,200 people, about 70% of whom are expatriates. About 80% of its assets are managed by external fund executives, while about 60% is invested in index trackers.

Shaikh Hamed is one of 17 surviving sons of the UAE's founding father, the late Shaikh Zayed. Shaikh Hamed is one of five full-brothers, including the late Shaikh Ahmad and UAE Interior Minister Shaikh Saif who form a group of their own within the ruling family. Shaikh Ahmad had been chairman and CEO at ADIA since 1997. But Hamed is close to Shaikh Muhammad.

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Publication:APS Review Oil Market Trends
Geographic Code:7UNIT
Date:Jan 21, 2013
Words:215
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