Kuwait to Replace Head of Its $1 Trillion Sovereign Wealth Fund
- KIA’s MD Al-Ghenaiman departs, Sheikh Saoud to replace him
- Kuwait Investment Authority is among world’s top wealth funds
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The managing director of Kuwait’s $1 trillion wealth fund is departing after three years, capping a turbulent tenure at the global investor that’s been overshadowed by regional peers who’ve done flashier deals in recent years.
Ghanem Al-Ghenaiman was notified on Thursday his tenure was being cut short and he completed a smooth handover, people familiar with the matter said, declining to be identified discussing confidential information. Al-Ghenaiman, who is 65 and at retirement age according to the law, was appointed to the Kuwait Investment Authority in 2021 for a four-year term.