IPIC Governance in the Spotlight

April 20, 2015 by Loch Adamson

Sovereign Wealth Center View: #Governance Under Scrutiny at #IPIC
#IPIC Chief Executive al-Qubaisi Reportedly Steps Down as Chairman of #Arabtec
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Khadem al Qubaisi with Real Madrid's Ronaldo and Florentino PerezSovereign Wealth Center View: It’s been a turbulent week for the International Petroleum Investment Corp. and its chief executive, Khadem al-Qubaisi. On a sunny afternoon in October 2014, the Real Madrid football team strode out onto the pristine turf of the Santiago Bernabéu stadium, its historic home ground. But this was a commercial occasion, not a sporting one — the players were wearing smart suits in place of their usual gleaming white kit. Striding among the group and posing for photographs with Cristiano Ronaldo and his teammates were several of the club’s top executives, including Real Madrid president Florentino Pérez. Also present: Khadem al-Qubaisi, chief executive of International Petroleum Investment Corp. (IPIC), the $68 billion Abu Dhabi sovereign wealth fund. The occasion marked the announcement of a lucrative sponsorship agreement. The deal, worth a reported €500…

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