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New senior managers build ADIC investment and finance capability

02 Mar 2009

ADIC HIRES FORMER VOLVO AND GOLDMAN SACHS EXECUTIVES

ABU DHABI, March 3, 2009 – The Abu Dhabi Investment Company (ADIC) has hired two experienced executives to fill key investment and finance roles.

The government-backed company has over three decades of investment experience in the region, and is now helping global investors enter markets in the Middle East and North Africa.

“Now more than ever, companies need top talent to navigate a tough investment climate,” said ADIC Chief Executive Nazem Fawwaz Al Kudsi. “As we expand, I’m happy we can attract high quality staff, both locally and internationally.”

As ADIC builds its funds management business, it will also invest alongside its partners. That proprietary investment will be led by new chief investment officer, Anders Ljungqvist, who joins the company from AB Volvo.

Ljungqvist, a former Swedish handball international, was Volvo’s director of corporate finance for the past three years. He previously had stints as Volvo Group’s head of asset management and fixed income and its head of treasury in the Americas.

Helping ADIC achieve the highest standards of corporate governance, Frenchman Thierry Gimonnet joins as head of finance after more than a decade at U.S. investment bank Goldman Sachs.

ADIC, which operates under the umbrella of the Abu Dhabi Investment Council, has been growing its international profile. For example, it has created an infrastructure fund joint venture with UBS and has a strategic partnership with German private bank, BHF-Bank.