Investing
Saudi Arabia’s $620 Billion Wealth Fund Plans to Add N.Y. Trading Team for US Subsidiary
- PIF’s New York subsidiary plans to hire a team of about 50
- Saudi wealth fund manages about $40 billion of US equities
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The US subsidiary of Saudi Arabia’s $620 billion sovereign wealth fund plans to hire a team of about 50 staff for its New York office, as it expands its investments in the country.
USSA International, a wholly-owned unit of the Public Investment Fund, will recruit for roles including investment research, legal and compliance, as well as a chief of staff, according to people with knowledge of the matter. It will also build a team for equity trading at a later stage, the people said, asking not to be identified as the information is private.