UAE's  Abu Dhbai Investment Authority (ADIA), one of the largest sovereign wealth funds in the world, has appointed Michael Steliaros as Global Head of Equity Portfolio Engineering & Trading in its Core Portfolio Department, effective immediately.

Steliaros will oversee the implementation and execution of ADIA’s total equity portfolio, reporting to Dhaen Alhameli, Executive Director of the Core Portfolio Department, according to a statement from ADIA.

ADIA was set up in 1976 to manage the oil surplus revenues of Abu Dhabi.

The Core Portfolio Department implements ADIA’s benchmark exposures across equity and fixed income markets, managing ADIA-wide treasury-related activities and executing equity, fixed income, money market and currency trades.

Steliaros joins ADIA from Goldman Sachs, where he was the Global Head of Quantitative Execution Services, responsible for the research, development and implementation of quantitative processes across portfolio and electronic execution.

ADIA has $708.8 billion in assets under management, according to the Sovereign Wealth Fund Institute. Much of its recent private investments have focused on emerging markets in Asia.

(Writing by Seban Scaria; editing by Daniel Luiz)