First with Financial Comment from Arabia

Three days official mourning after tragic death of ADIA boss

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Mortality is the biggest enemy of all investors and the managing director of the Abu Dhabi Investment Authority, Sheikh Ahmad bin Zayed Al Nahyan who died in a tragic glider accident last Friday, was arguably the greatest investor of all time with the world’s largest sovereign wealth fund under his control.

A five day search ended yesterday with an announcement from the Emirates news agency WAM that divers had discovered his body in the lake south of Rabat in Morocco where his glider crashed. Flags will be kept at half mast across the UAE but there will be no closure of government offices.

Sheikh Ahmad was a younger brother of the UAE President Sheikh Khalifa bin Zayed Al Nahyan, and listed by Forbes magazine as the 27th most powerful man in the world.

His recent efforts to increase the transparency and openness of the formerly secretive ADIA had been widely praised (see this article) and his death at just 41 years old is a major loss to the nation.


Written by Peter Cooper

March 31, 2010 at 8:19 am

Posted in Banking, UAE Stocks

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