The Emirates Investment Authority (EIA) sovereign wealth fund is the latest in the region to make changes to its board of directors.
The reshuffle was formally approved and announced by the UAE Cabinet which explained the decision as a way to strengthen the authority’s role and to enable it to seek out investment opportunities at the local, regional and international levels.
The move is also part of a continuous effort to develop the workflow in federal government agencies by reshuffling the board, according to the cabinet.
The EIA will continue to be chaired by Sheikh Mansour bin Zayed Al Nahyan, UAE’s deputy prime minister and minister of presidential affairs, but it will feature eight new directors.
Among the new recruits are: Eissa Mohamed Al Suwaidi, managing director of the Abu Dhabi Investment Council, Waleed Al Mokarrab Al Muhairi, Mubadala’s deputy group chief executive and chief executive of alternative investments and infrastructure, and Kaltham Hamad Balabad Al Ghafli, investment manager in the external equities department at the Abu Dhabi Investment Authority.
The move comes a week after the newly established Omani Investment Authority appointed its first head, Abdulsalam al-Murshidi.
© 2020 funds global mena