Thursday, April 8, 2010
Abu Dhabi names new investment arm head
8:23 PM | 
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ABU DHABI: Khalifa Mohammed al-Kindi has been chosen to manage the Abu Dhabi Investment Council, one of the oil-rich emirate's wealth funds, the official WAM news agency said Wednesday.
Kindi was appointed in a decree issued by Sheikh Khalifa bin Zayed al-Nahayan, the president of the United Arab Emirates, who is also the ruler of Abu Dhabi and chairs the council.
The decree reshuffled the board of directors of the fund, which was established in 2007 and which focuses on investments in Abu Dhabi's economy.
The council's investments include stakes in major banks in the emirate, including National Bank of Abu Dhabi, Abu Dhabi Commercial Bank and Al-Hilal Bank.
Kindi was appointed in a decree issued by Sheikh Khalifa bin Zayed al-Nahayan, the president of the United Arab Emirates, who is also the ruler of Abu Dhabi and chairs the council.
The decree reshuffled the board of directors of the fund, which was established in 2007 and which focuses on investments in Abu Dhabi's economy.
The council's investments include stakes in major banks in the emirate, including National Bank of Abu Dhabi, Abu Dhabi Commercial Bank and Al-Hilal Bank.
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