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Abu Dhabi Wealth Fund Hires Citigroup Banker as Transition Head

Abu Dhabi Investment Authority, one of the world’s largest sovereign wealth funds, hired former Citigroup Inc banker Steven Dalzell as head of transition management.

Based in Abu Dhabi, Dalzell will lead a team responsible for ensuring changes or movements in the sovereign fund’s asset allocation or investment management are handled efficiently, ADIA said today in a statement. It’s a newly created role, a spokesman for the fund said. Dalzell will work on planning and implementing multi-asset class portfolio transitions, including pre-trade analysis, project planning, implementation and reporting, according to the statement.