Khadem al-Qubaisi
Encyclopedia
Khadem al-Qubaisi (born September 27, 1971) is an Emirati
businessman and a board member and Managing Director of the International Petroleum Investment Company (IPIC).
Specifically, Qubaisi represents IPIC as Vice Chairman of OMV, the Austrian national oil company, and Chairman of NOVA Chemicals, the North American plastics and chemicals group. He is also Chairman of Borealis AG, in which IPIC owns a controlling 64% interest. Borealis owns a 40% stake in Borouge, an Abu Dhabi petrochemicals joint venture, in partnership with ADNOC.
Qubaisi is also CEO of the Spanish integrated oil and petrochemical company, Compañía Española de Petróleos (CEPSA), and Chairman of Falcon Private Bank, based in Zurich.
Within Abu Dhabi, Qubaisi is chairman of Aabar Investments PJS, the multinational investment company and subsidiary of IPIC. Aabar, under the chairmanship of Mr Qubaisi, has made a number of high profile acquisitions in recent years, including stakes in Daimler AG, Tesla Motors, and Virgin Galactic. Aabar recently acquired 100% of Mercedes GP.
Qubaisi is also chairman of Tabreed, an Abu Dhabi based utility company that provides climate control services across the middle east, Takaful, a national insurance company established in Abu Dhabi that provides Islamic insurance solutions, and the I-Media newspaper, the UAE’s first fully integrated media company. He is also a board member of the Emirates Investment Authority and UAE’s First Gulf Bank, and within the Gulf region, Qubaisi chairs Bahrain’s First Energy Bank.
Qubaisi’s accomplishments have been rewarded with peer recognition, both within the UAE, and internationally. He was voted the Arabian Businessman of the Year for 2009 in the UAE, and also received the coveted #1 Award as the ICIS Power Player of the Year 2009. ICIS explained its rationale for honouring Qubaisi as follows:
“As a hands-on leader of a chemical group well on its way to becoming dominant in global petrochemicals, Khadem al-Qubaisi richly deserves this accolade as the ICIS No. 1 chemical industry power player for 2009.”
United Arab Emirates
The United Arab Emirates, abbreviated as the UAE, or shortened to "the Emirates", is a state situated in the southeast of the Arabian Peninsula in Western Asia on the Persian Gulf, bordering Oman, and Saudi Arabia, and sharing sea borders with Iraq, Kuwait, Bahrain, Qatar, and Iran.The UAE is a...
businessman and a board member and Managing Director of the International Petroleum Investment Company (IPIC).
Early life
Qubaisi attended high school in Abu Dhabi and studied at the University of the United Arab Emirates. He was awarded a Bachelor's Degree in Economics in 1993, and that same year commenced his career with Abu Dhabi Investment Authority (ADIA), eventually achieving the role of Senior Financial Analyst in the North American Equities Department. In 2000, he moved to IPIC as an investment manager, and became Managing Director of IPIC in May 2007.Career
Qubaisi began his career with the Abu Dhabi Investment Authority (ADIA), one of the world's largest sovereign wealth funds. He is a member of the Board and Managing Director of IPIC, and he sits on the boards of a number of international, regional and domestic UAE companies.Specifically, Qubaisi represents IPIC as Vice Chairman of OMV, the Austrian national oil company, and Chairman of NOVA Chemicals, the North American plastics and chemicals group. He is also Chairman of Borealis AG, in which IPIC owns a controlling 64% interest. Borealis owns a 40% stake in Borouge, an Abu Dhabi petrochemicals joint venture, in partnership with ADNOC.
Qubaisi is also CEO of the Spanish integrated oil and petrochemical company, Compañía Española de Petróleos (CEPSA), and Chairman of Falcon Private Bank, based in Zurich.
Within Abu Dhabi, Qubaisi is chairman of Aabar Investments PJS, the multinational investment company and subsidiary of IPIC. Aabar, under the chairmanship of Mr Qubaisi, has made a number of high profile acquisitions in recent years, including stakes in Daimler AG, Tesla Motors, and Virgin Galactic. Aabar recently acquired 100% of Mercedes GP.
Qubaisi is also chairman of Tabreed, an Abu Dhabi based utility company that provides climate control services across the middle east, Takaful, a national insurance company established in Abu Dhabi that provides Islamic insurance solutions, and the I-Media newspaper, the UAE’s first fully integrated media company. He is also a board member of the Emirates Investment Authority and UAE’s First Gulf Bank, and within the Gulf region, Qubaisi chairs Bahrain’s First Energy Bank.
Personal Awards
As Managing Director of IPIC, Qubaisi has overseen a significant period of growth for the Abu Dhabi based sovereign wealth fund. In particular, during his tenure as MD, IPIC has acquired stakes in Cosmo Oil, Co., Oasis International Power, the Portuguese power company EDP, Aabar, an interest through a convertible bond in Oil Search, 70% of Ferrostaal, and 100% of NOVA Chemicals. IPIC has also recently made a takeover offer for 100% of the shares in CEPSA.Qubaisi’s accomplishments have been rewarded with peer recognition, both within the UAE, and internationally. He was voted the Arabian Businessman of the Year for 2009 in the UAE, and also received the coveted #1 Award as the ICIS Power Player of the Year 2009. ICIS explained its rationale for honouring Qubaisi as follows:
“As a hands-on leader of a chemical group well on its way to becoming dominant in global petrochemicals, Khadem al-Qubaisi richly deserves this accolade as the ICIS No. 1 chemical industry power player for 2009.”