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27 February 2024

Key Adic investment, finance officials named

By Staff Writer

The Abu Dhabi Investment Company (Adic) said yesterday it had hired two executives to fill key investment and finance roles.

"Now 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."

Adic said its proprietary investment would be led by new chief investment officer, Anders Ljungqvist, who joins the company from AB Volvo. Ljungqvist was Volvo's director of corporate finance for the past three years.

The other executive is Frenchman Thierry Gimonnet, who joins as head of finance after more than a decade at US 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," it said.