G42 In Abu Dhabi Expands Its Investment Staff With New Hires From A Wealth Fund

According to people with Direct Knowledge, a firm based in Abu Dhabi supported by Mubadala Investment Co. is expanding its investment account with key recruits from the sovereign wealth funds of the country.

According to the people who requested anonymity because the information is private, Group 42 hired ChristophKoster, previously an official at the Dubai Financial Services Office, as head of investor relations and investment strategy. According to the announcement, Jon Nieman, who was a senior fund manager for the emerging markets command at the largest wealth fund of a nation, AD Investment Authority, is going to be the in-charge of investments.

The hires were confirmed by a firm spokesperson about the investments. The moves highlight G42’s growth as an AI and cloud services company with operations ranging from power generation to health care systems and autonomous vehicles. Its chairman is Sheikh Tahnoon bin Zayed, the UAE’s influential defense secretary and the crown prince of Abu Dhabi’s brother.

According to the people, Niemanand Kosterare is among those working under Chief Tariq bin Hendi, Investment Officer, who is trying to hire more financial advisers from other Abu Dhabi-based investment firms.

RaffaeleBreschi, a former McKinsey & Co. partner, was also hired as the company’s Group Chief Growth Officer, where he will focus on expanding the firm’s machine intelligence and new tech portfolio.

Unique deals

G42 established a joint venture with Beijing-based Sinopharm CNBG last year, marking the first time the Chinese vaccine was manufactured outside of China. It was also the first Emirati organization to open an office in Israel following the nations’ normalization of relations in the so-called Abraham Accords, and it conducted the Middle East’s first driverless car trials. Meanwhile, the company’s Artemis supercomputer is powering a governmental genome sequencing effort.

Koster, who joined G42 coming from ADIO, was previously the head of private banking strategy at Emirates NBD PJSC., a Dubai-based bank. Nieman has worked for State Street Corp. and Saudi Aramco, where he specialized in other assets such as sports deals, royalties, and aircraft leasing. All the steps are taken for the betterment and development of the country.