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Abu Dhabi, UAEMonday 10 December 2018

Aabar Investments names Ipic investment chief as its new CEO

The new chief executive of Aabar Investments, Mohamed Hamad Al Mehairi, joined Ipic in 2006. He has been Ipic’s long-serving head of investment evaluation and execution.

Abu Dhabi-based Aabar Investments says that its new chief executive comes from the senior ranks of its parent company.

Aabar, which has US$17 billion in diverse assets, is almost wholly owned by the International Petroleum Investment Company (Ipic) of Abu Dhabi’s government.

The new chief executive of Aabar Investments, Mohamed Hamad Al Mehairi, joined Ipic in 2006. He has been Ipic’s long-serving head of investment evaluation and execution.

Mr Al Mehairi “has been responsible for successfully growing Ipic’s portfolio of investments over the past nine years, including Aabar”, said Suhail Al Mazrouei, the Energy Minister, who is also Ipic’s managing director and Aabar’s chairman.

Mr Al Mehairi, who spent nine years at the Abu Dhabi National Oil Company after earning a finance degree from Surrey University, succeeds Mohamed Badawy Al Husseiny as Aabar’s leader. Mr Al Husseiny had been Aabar’s chief executive since 2010 and an executive with the fund since its inception in 2005.

He is leaving to join Trussbridge Advisory, a private equity and merchant banking firm, as the chairman of its investment committee.

He will also serve as a board member of the First Energy Bank of Bahrain.

Ipic, which was set up by Abu Dhabi’s government in the 1980s, focuses on energy investments.

amcauley@thenational.ae

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