Ninety One has appointed Dr Khalid Alsweilem as chief global sovereign funds adviser and chairman of the firm’s new Saudi Arabian entity.
The new arm is currently being formed and is still subject to approval from the Saudi Arabia Capital Market Authority.
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Previously, Alsweilem served as chief counsellor and director general of investment at SAMA, the central bank of Saudi Arabia. He held roles there since 1991.
Prior to that, he was a scholar at Stanford Global Projects Centre and a fellow expert at Harvard Kennedy School.
Alsweilem said: “I am pleased to be taking on this role to help steer and develop Ninety One’s business in Saudi Arabia and Middle East more broadly. This is a time of great transformation and opportunity for the region as Saudi Arabia implements its Vision 2030 programme. As a global investment manager with expertise in emerging market equities, natural resources, Asia and Mainland China equities, energy transition and infrastructure debt, Ninety One is well positioned to capitalise on the major economic developments taking place throughout the region. Their roots in emerging markets give them a keen sensitivity to how investment capabilities should serve Saudi Arabia and the region’s needs.”
Hendrik du Toit, founder and chief executive officer of Ninety One, added: “Dr. Alsweilem is the right person to help guide our growth in Saudi Arabia and the region, given his unique knowledge of the investment industry and environment. Ninety One has had an active presence as an investor of international capital in the region for many years and is experienced in developing investment businesses with local relevance. The creation of a formal entity in Saudi Arabia is our next step in a productive journey to even greater engagement and service of clients.”
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By GlobalDataNinety One is an active, global investment manager listed in London and Johannesburg with mor ethan $160bn in assets under management. In addition, the firm was previously Investec Asset Management before splitting from the bank in 2020.
