• HSBC

Abu Dhabi Investment Company builds corporate governance

  • United Arab Emirates: Thursday, November 27 - 2008 at 12:45
  • PRESS RELEASE

Abu Dhabi Investment Company (ADIC), the first investment company in Abu Dhabi, and one of the leading firms in the Middle East and North Africa, announced the appointments of Royston Armstrong as Head of Internal Audit, Stephen Swanson as Chief Legal Officer, and Stephen Bowey as Head of Communications.

These appointments are a result of ADIC's intention to meet international standards of investment diligence, corporate governance and risk management, an important step in the company's growth plans.

Commenting on the appointments, ADIC CEO Nazem Fawwaz Al Kudsi said:
"At ADIC we are committed to the highest standards of transparency and professionalism, with the goal of building our business internationally. The excellent multi-national experience we are bringing to our team will help us to achieve this."


Royston Armstrong has more than 24 years of internal auditing experience, most recently as Head of Internal Audit and Risk Management at "Alliance Trust PLC", a FTSE 100 company based in Edinburgh, UK. Prior to this, Armstrong was Vice President: Internal Control at "The Bank of New York" in the UK, following extensive experience in the financial services industry at, among others, "TSB Insurance", "Abbey National" and "Alliance & Leicester".

Stephen Swanson brings 15 years of legal experience in corporate finance and capital markets, most recently as Director and Senior Legal Counsel at "Citigroup Global Wealth Management" in New York. Before joining "Citigroup", Stephen had extensive experience in leading global law firm "Clifford Chance", and in top US firms "Jones Day", and "Morgan, Lewis & Bockius" in New York.

Stephen Bowey has 28 years communications experience in the Netherlands, South Africa, and the UK. He joins ADIC from "College Hill", a leading international financial PR consultancy, where he was Director and Partner. Previously Head of Communications at "Old Mutual" South Africa, he has extensive marketing and strategy experience in the financial services and publishing industries.
 
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About Abu Dhabi Investment Company (ADIC):

Abu Dhabi Investment Company (ADIC), the first investment company in the United Arab Emirates, is one of the leading financial services firms in the region. Established by Emiri Decree on February 24, 1977, and owned by Abu Dhabi Investment Council, ADIC has delivered excellence in treasury and credit services, loan syndication, equity and debt underwriting, financial advisory, asset management and brokerage across a range of asset classes. As a result, the company has earned a reputation for professionalism, integrity, innovation, and market knowledge.

Pursuing a focused approach, ADIC today leverages its investment expertise across four strategic areas: Asset Management, Private Equity, Real Estate, and Infrastructure. In this way, the organization is able to offer targeted products and services to meet specific client requirements in markets across the globe, all while delivering superior risk-adjusted returns. With extensive knowledge of the Middle East and North Africa investment environment, unrivalled access to primary information on regional companies, both large and small, an understanding of the micro and macro economic environment and record of accomplishment across asset classes, ADIC is an ideal investment partner for institutions and high net worth individuals based in the region and beyond.

For further information, please contact:

Sweety Darwish
ADIC Corporate Communications
Tel. +971 2 6296451
Fax +971 2 6655835

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