New equity man for Abu Dhabi Investment Authority



The Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds, today appointed James Kester as chief investment officer of its private equity department.

Mr Kester comes to ADIA from Zurich Alternative Asset Management in the US, where he was head of private equity and a member of the investment committee since 2006. He had spent six years prior to that as co-chief executive of Allianz Private Equity Partners in Germany.

"James has an excellent reputation and impressive track record of developing and managing private equity portfolios for major financial institutions,"  Hareb al Darmaki, the executive director of ADIA's private equity department, said in a statement.

The appointment follows a number of recent additions to ADIA's growing roster of financial professionals.

The fund appointed Ted Chu as its first chief economist in September and installed Keith Collins as its first chief accounting officer the following month. In his new role, Mr Kester will oversee ADIA's private equity strategy.

Private equity is a form of investment where institutions and funds buy stakes in private companies, typically aiming to sell after several years and generate big returns.

afitch@thenational.ae

How to avoid crypto fraud
  • Use unique usernames and passwords while enabling multi-factor authentication.
  • Use an offline private key, a physical device that requires manual activation, whenever you access your wallet.
  • Avoid suspicious social media ads promoting fraudulent schemes.
  • Only invest in crypto projects that you fully understand.
  • Critically assess whether a project’s promises or returns seem too good to be true.
  • Only use reputable platforms that have a track record of strong regulatory compliance.
  • Store funds in hardware wallets as opposed to online exchanges.
TEACHERS' PAY - WHAT YOU NEED TO KNOW

Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:

- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools

- average salary across curriculums and skill levels is about Dh10,000, recruiters say

- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance

- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs

- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills

- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month

- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues

Avengers: Endgame

Directors: Anthony Russo, Joe Russo

Starring: Robert Downey Jr, Chris Evans, Scarlett Johansson, Chris Hemsworth, Josh Brolin

4/5 stars