Saudi Arabia’s Wealth Fund Reshuffles Key Executive Team

Photographer: Maya Anwar/Bloomberg

Saudi Arabia’s sovereign wealth fund reshuffled some of its key leadership positions, bringing in the chief of the kingdom’s debt management office as head of corporate finance.

The Public Investment Fund named Fahad Alsaif as its head of corporate finance on Tuesday. Chief of Staff Yazeed AlHumied becomes the head of the fund’s local holdings investments and Rania Nashar was named senior adviser to PIF Governor Yasir Al-Rumayyan.

The $360 billion sovereign wealth fund is a key lever for the kingdom’s efforts to revive growth after what may be the deepest recession the world’s largest crude exporter has experienced since 1987.

  • Alireza Zaimi, previous head of corporate finance, becomes special adviser to the governor
  • Saad Alkroud, head of stakeholder management, becomes acting chief of staff
  • Rashed Sharif, head of local holdings investments, becomes managing director and CEO of the merged entity of NCB Capital and Samba Capital

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