Qatar appoints Sheikh Abdullah bin Mohammed bin Saud Al-Thani as new chief for sovereign fund

 
Joseph Millis
Sheikh Abdullah bin Mohammed bin Saud Al-Thani is QIA’s new chief
Qatar's sovereign wealth fund yesterday appointed a member of the emirate’s royal family to replace its chief executive.

The Qatar Investment Authority (QIA), which manages as much as $300bn (£191bn), including significant stakes in Barclays, Credit Suisse, Sainsbury’s and London department store Harrods, has named Sheikh Abdullah bin Mohammed bin Saud Al-Thani as CEO.

He will take over from Ahmed Al-Sayed as the new head of one of the world’s most powerful sovereign wealth funds, according to the Qatar News Agency.

Sheikh Abd­ul­lah is currently chairman of Ooredoo, a Gulf telecoms company, and a former chief of the royal court.

The change comes only a year after al-Sayed took up the role in the days after Sheikh Hamad Bin Khalifa Al-Thani passed the reigns of power of the resource-rich Gulf state to his son, Sheikh Tamim bin Hamad Al-Thani.

The emir also ordered a reshuffle of QIA’s board of directors, according to the news agency.

QIA recently agreed to buy HSBC’s global headquarters for £1.1bn, the largest transaction for a single building in the history of the London market.

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