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Wednesday, 23 December, 2020 - 12:30
Logo of the Saudi Public Investment Fund (PIF) Riyadh- Asharq Al-Awsat
The Saudi Public Investment Fund (PIF) announced a string of new appointments in its executive team under the framework of an expansion strategy to achieve its goals, as one of the main engines of the Kingdom’s economy.
The appointments announced Tuesday included Yazeed al-Humied, as new Head of the Fund’s Local Holdings Investments and Rashed Sharif, as Managing Director and CEO of the merged entity of NCB Capital and Samba Capital, a key strategic PIF portfolio company.
Leading Saudi financier, Rania Nashar was appointed as Senior Advisor to PIF Governor, Yasir al-Rumayyan. In addition, Fahad Alsaif was named as the new Head of Corporate Finance, Alireza Zaimi appointed to the role of Special Advisor to Rumayyan, and Saad al-Kroud as acting PIF Chief of Staff.
Saudi’s $360bn sovereign wealth fund PIF rejigs top leadership
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The reshuffle comes as the PIF and its subsidiaries prepare to significantly increase domestic spending
December 23, 2020
Saudi Arabia’s sovereign wealth fund overhauled some of its top management as it prepares to take a greater role in the local economy.
The $360bn Public Investment Fund on Tuesday said that Fahad Alsaif, chief executive officer of the country’s National Debt Management Center and adviser to the finance minister, will become head of corporate finance and a member of its management committee.
DUBAI: The Public Investment Fund (PIF) has bolstered its top executive team with a string of appointments of Saudi investment specialists to key positions in the Kingdom’s $360 billion sovereign wealth fund.
Six key jobs were filled, with two newcomers to the PIF setup. Rania Nashar, one of the leading female financiers in Saudi Arabia, has been made special adviser to PIF Gov. Yasir Al-Rumayyan.
Fahad Al-Saif has moved from his role as head of the National Debt Management Center and adviser to the Ministry of Finance to become PIF head of corporate finance.
Financial experts said that the new team would likely focus on PIF’s mission to stimulate investment inside the Kingdom as a key part of its remit to enhance economic diversification under the Vision 2030 strategy.