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Sovereign Wealth Funds Briefing - Categorized | Fund Management/Administration, People

Saudi sovereign fund fills key positions as it bulks up for reform drive

Posted on 18 November 2016

Saudi Arabia’s Public Investment Fund (PIF), its main sovereign wealth fund, said on Thursday it had filled key posts as part of plans to expand investment capacity and help reduce the kingdom’s dependence on oil income.
Under economic reform plans announced early this year, the government has said it aims eventually to expand the PIF, founded in 1971 to finance development projects in the country, from $160 billion to about $2 trillion and increase investments abroad. The PIF did not name the people it had appointed, but LinkedIn profiles showed at least five financial professionals had begun working at the Fund in the last several weeks……………………………………..Full Article: Source


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