Abu Dhabi sovereign wealth funds install new chairs

The authorities in Abu Dhabi have announced an executive reshuffle at two of its largest sovereign wealth funds that will see two members of the royal family installed as respective chairmen.

National security adviser Sheikh Tahnoun bin Zayed Al Nahyan has been appointed as chairman of the Abu Dhabi Investment Authority (ADIA). He is also the brother of UAE president Sheikh Mohammed bin Zayed Al Nahyan.

Sheikh Tahnoun takes over from Sheikh Khalifa bin Zayed Al Nahyan, the former UAE president who died last year.

He is also chairman of state-backed investment company ADQ, the third biggest investment fund in Abu Dhabi.

Meanwhile, Sheikh Mansour bin Zayed Al Nahyan, the owner of Manchester City football club and another brother of the UAE president, has been named as chairman of Mubadala.

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