The Abu Dhabi Investment Authority has appointed Sheikh Hamed bin Zayed al Nahyan as its managing director, succeeding the late Sheikh Ahmed bin Zayed al Nahyan, Bloomberg has reported. Sheikh Hamed currently heads the Abu Dhabi Crown Prince's Court and is chairman of the Higher Corporation of Specialized Economy Zones. He is the half brother of Sheikh Khalifa bin Zayed al Nahyan, president of the United Arab Emirates, and a brother of his predecessor Sheikh Ahmed.