Public Investment Fund, Riyadh, made two appointments to its new Middle East and North Africa-focused division as part of its growth strategy.
The $430 billion sovereign wealth fund appointed Eyas AlDossari and Omar AlMadhi as senior directors in the MENA investments division, which was created last week via the expansion of its local holdings investment division.
Mr. AlDossari leads investment advisory within the division, supporting decision-making and capital recycling, a news release said. He works closely with other PIF executives. He was managing director and head of investment banking for Goldman Sachs Saudi Arabia.
Mr. AlMadhi co-heads direct investments for the MENA investment division. He oversees PIF investments and opportunities in key strategic sectors. He joined from investment firm Abdul Latif Jameel Investments. His position and further details were not available.
Messrs. AlDossari and AlMadhi report to Yazeed Alhumied, deputy governor and head of PIF's MENA investments division. The unit focuses on investment in industry and companies that drive economic development and contribute to the diversification of Saudi Arabia's economy.
PIF also appointed Abdullah Shaker as senior director in its global corporate finance division, the news release said.
Mr. Shaker leads the sovereign wealth fund's capital finance advisory and planning department, with the aim of creating a center of excellence for providing transactions advice. He reports to Fahad AlSaif, head of the global capital finance division.
The global capital finance division was recently created out of PIF's corporate finance division. It is responsible for developing and implementing PIF's strategic medium-term capital raising strategy.
Mr. Shaker was previously at Saudi AlBaraka Banking Group. Details on his position were not available.
PIF spokesmen could not be reached for comment.