Abu Dhabi SWF appoints global head of research

22 May 2014   Category: News, Global, Middle East   By Daniel Shane

Abu Dhabi Investment Authority (ADIA), the world’s second largest sovereign wealth fund (SWF) with an estimated US$773 billion in assets, has appointed former BP vice president and chief economist Christof Ruhl as global head of research.

Mr. Ruhl will take up the newly established position in July, and will be responsible for managing the fund’s global research function, which provides fundamental and macroeconomic research to ADIA’s senior executives.

Mr. Ruhl, who has previously held senior positions at the World Bank and European Bank for Reconstruction and Development, will report to ADIA’s director of evaluation and follow-up Khaleefa Al Qamzi. He will also be tasked with improving ADIA’s relations with global research entities and institutions.

“Christof brings with him a sophisticated understanding of global economics and policymaking, and his background and expertise will be critical to the successful establishment of a global research function within ADIA,” said Mr. Al Qamzi in a statement on the UAE’s state-run news agency.

“The invaluable relationships and solid academic and corporate reputation he has built throughout his career will assist with assembling a global community of experts in economic research and analysis.”

According to ADIA’s most recent financial report, in 2012 it allocated up to 42% of its portfolio to developed market equities, up to 20% to emerging market equities, and up to 20% to government bonds. Other asset classes with significant allocations include alternatives and real estate.

ADIA’s mandate is to re-invest Abu Dhabi’s surpluses from oil revenues to maintain the future financial welfare of the Gulf emirate.