Ex-UAE Climate Change Minister to Lead IHC Fund 2PointZero
IHC Fund 2PointZero includes Lunate, International Resources Holding, and Chimera
International Holding Company’s (IHC) subsidiary, 2PointZero, has made strategic senior appointments to guide the newly established holding company towards a future of transformative global impact. Sheikh Zayed bin Hamdan bin Zayed Al Nahyan has been appointed as the Chairman of the Board, and Mariam bint Mohammed Saeed Hareb Almheiri, former UAE Minister of Environment and Climate Change, has been named CEO.
The CEO of International Holding Company, Syed Basar Shueb, expressed excitement about having Sheikh Zayed bin Hamdan Al Nahyan and H.E. Mariam Almheiri join the team. Their combined expertise and leadership are deemed crucial to realizing 2PointZero’s vision as a leader in diverse industry verticals and a contributor to global progress.
Mariam Almheiri, who served as the Minister of Environment since 2021 and played a significant role in the UAE’s hosting of COP28, brings valuable experience to her new role. The recent cabinet reshuffle saw her appointed as the Head of the Office of International Affairs in the Presidential Office.
2PointZero, established by Abu Dhabi conglomerate IHC in January, operates as a holding firm with assets worth Dhs100bn ($27bn) across various sectors, including financial services, mining, and more. The extensive portfolio includes Abu Dhabi’s newest fund Lunate, International Resources Holding, private investment firm Chimera, Egypt’s Beltone Financial, Citadel Technologies (a crypto mining firm), and Middle East-focused Sagasse Investments.
IHC, founded in 1998 to diversify and develop non-oil business sectors in the UAE, has grown significantly over the years. As of January 9, 2024, it stands as the most valuable listed holding company in the Middle East with a market cap of Dhs900bn. In Q3 2023, IHC reported a 9.5% YoY increase in revenues to Dhs14.2bn, highlighting its substantial growth. However, profits witnessed a 65.34% decline to Dhs4.82bn compared to Dhs13.91 billion in the corresponding period a year earlier.
