Mubadala Investment Company has appointed Mohamed Ali Al Dhaheri as the next CEO of its portfolio company, Abu Dhabi Investment Council (ADIC) replacing Eissa Al Suwaidi, who retires in June. Al Dhaheri is currently the Deputy CEO of the council.

Al Suwaidi retires after 40 years of service to Abu Dhabi’s major financial institutions. He joined the ADIC at its creation in 2007 after serving as an executive at Abu Dhabi Investment Authority (ADIA) for 25 years.

He became the council’s managing director in 2015 and when in 2018, the council became part of Mubadala, Al Suwaidi was appointed its CEO.

Managing Director and Group CEO Khaldoon Al Mubarak said: “On behalf of the Mubadala board of directors, I would like to thank Al Suwaidi for his tenure as CEO of the council. He has served ADIC and the Mubadala Group, with great distinction.”

“He has had a long and successful career over four decades as one of Abu Dhabi’s most respected investment professionals, and I wish him the best in his retirement,” he stated.

Al Dhaheri has served for over two decades as a highly regarded investment executive, first at ADIA and then working with the founding members of the council in 2007.

As Deputy CEO of the Council, he has worked closely with Al Suwaidi as well as leading the Council’s Accounting and Financial Services Group.