The UAE’s former Minister of Environment and Climate Change has been appointed CEO of newly transferred  International Holding Company (IHC) subsidiary 2PointZero while Sheikh Zayed bin Hamdan bin Zayed Al Nahyan will serve as chairman.

Sheikh Zayed was appointed chairman of the UAE’s National Media Office last year and has a keen interest in the integration of AI in media, according to a statement from 2PointZero.

Mariam bint Mohammed Saeed Hareb Almheiri served as the UAE’s Minister of Environment, holding a prominent role in the UAE’s hosting of COP28, until a cabinet reshuffle announced over the weekend saw her appointed Head of the Office of International Affairs in the Presidential Office.

She had served as Environment and Sustainability Minister since 2021 and as a board member of Abu Dhabi’s largest lender FAB since March 2023.

2PointZero, announced last week by Abu Dhabi Securities Exchange (ADX)-listed investment holding company IHC is expected to have a portfolio with assets exceeding $27 billion across private equity, AI, mining and cryptocurrency.

IHC’s market capitalisation was AED 899 billion ($244.8 billion) as of January 5, 2024, according to IHC data.

(Writing by Imogen Lillywhite; editing by Brinda Darasha)