Here’s a look at PIF’s institutional, human capital initiatives

 

Saudi Arabia’s Public Investment Fund (PIF) has updated its strategy in line with Vision 2030, following the decision of the Saudi cabinet in March 2015 to transfer oversight of the Fund to the Council of Economic and Development Affairs (CEDA).

 

The Kingdom’s sovereign wealth fund has launched a new program that includes several initiatives aiming to strengthen its local and global presence through various investments and projects. 

 

PIF has also been upgrading its infrastructure and operations, as well as developing a new information system based on international best practices and future trends.

 

Another initiative focuses on building human capital capabilities. PIF actively seeks to attract and retain young Saudi talents as well as highly qualified individuals, and develop future leaders in the field of investment and various sectors.

 

PIF aims to establish itself as the preferred employer for talented Saudis as well as expatriates. The Fund currently has more than 600 employees, and intends to recruit 100 more to reach 700 by the end of 2019, and 2,000 employees by 2025.

 

Ninety percent of the current workforce are Saudi nationals, 30 percent of whom are females.

 

PIF’s expansion plans are not limited to increasing staff number, but include enhancing its foreign presence by opening offices in London, New York, and San Francisco. There are also intentions to launch a representative office in Asia in the future.

 

Not only does PIF aim to attract high caliber talent but it also seeks to train its existing team to enhance their practical skills in line with the fund ambitions. PIF continues to invest heavily in developing human capital capabilities, believing that the development of staff is an integral part of the Fund’s journey to becoming one the world’s largest sovereign wealth fund.

 

In order to support this ambition PIF established the PIF Academy, responsible for developing  the capabilities of its employees and fresh graduates.

 

PIF has also partnered with global training and academic leaders, including the University of California, Berkeley, Euromoney  and Stanford University.

 

Moving back to the PIF academy, it was established in 2017 as part of PIF's commitment to investing in the next generation. It is responsible for training over 3,000 employees in PIF and its affiliates. It offers courses in management, finance and investment.

 

The PIF Academy is also responsible for the launch of the PIF Graduate Development Program (GDP) that seeks to qualify and upskill fresh graduates to meet the current and future market demand. The PIF GDP provides the following tracks:

 

1) General Track

2) Investment Track

3) Real Estate Track

4) Project Management Track

 

The GDP provides education classes, on the job training, as well as regular assessments for trainees. Since its launch, GDP has provided training to 40 trainees annually. The trainees were selected from over 9,000 candidates in 2018. PIF aims to double the number of accepted trainees in 2019.

 

PIF is chaired by His Royal Highness Crown Prince Mohammed bin Salman, Deputy Prime Minister and Chairman of the Council of Economic and Development Affairs.

  

- Turqi A. Al Nowaiser - Head of International Investments

 

Turqi holds a Master’s degree in Business Administration (MBA) from the University of San Francisco, and a Bachelor’s degree in International Business Administration Finance from King Saud University in Riyadh. He has 15-years experience working for a range of financial entities, including the Capital Market Authority (CMA), the Saudi Industrial Development Fund (SIDF), and Morgan Stanley. He also worked as Saudi Fransi Capital as Head of Asset Management.

 

- Yazeed Al-Humied - Chief of Staff

 

Yazeed holds a Bachelor's degree in Accounting from King Saud University in Riyadh. He has also participated in several executive courses conducted by a range of educational entities. He first worked at PricewaterhouseCoopers (PWC) before moving to the Saudi Capital Markets Authority.

 

- Rashed I. Sharif - Head of Local Holdings Investments

 

Rashed holds an MBA from Prince Sultan University and a Bachelor’s degree in Financial Management from King Fahd University of Petroleum and Minerals. He started his career at the Saudi Industrial Development Fund, then worked as Director of Consumer Finance Relations at Albilad Bank. He joined the Capital Markets Authority as the Director of the Registration and Listing Department, before being named CEO of Riyad Capital.

 

- Aiman M. AlMudaifer - Head of Local Real Estate Investments

 

Aiman holds a Bachelor's degree in systems engineering from king fahad petroleum university. He first joined the Saudi Industrial Development Fund before moving to the Saudi Capital Markets Authority.  Prior to joining PIF he was Shomoul Holding’s CEO, and also served as Al Andalus Property Co.’s Chief Executive.

 

- Yasir AlSalman - Chief Financial Officer

 

Yasir holds a Bachelor's degree in Accounting from King Saud University in Riyadh and a Master's degree in Accounting and Information Technology from Middle Tennessee State University. He started his career working for Arthur Andersen LLP, then he joined PricewaterhouseCoopers (PWC). In 2008, he joined the Kingdom Holding Co. (KHC) as CFO, then worked as General Manager for Investment at Etihad Etisalat Co. (Mobily). He also worked as CFO of Saudi Agricultural and Livestock Investment Company (SALIC).

 

- Bander A. Mogren - Chief Operating Officer

 

Bander holds a Bachelor's degree in Human Resources and Business Administration from Eastern Washington University. He has held several managerial posts in leading investment firms across Saudi Arabia, including NCB Capital where he served as the managing director of human resources and corporate services. He also served as Head of HUman Resources at Jadwa Investment.

 

-  Alireza Zaimi – Head of Corporate Finance

 

Alireza holds a Bachelor's degree in Civil Engineering from l'Ecole Nationale des Ponts et Chaussées in France. Before joining PIF he served as head of the Asset Owners Group at Bank of America Merrill Lynch. He has also held several managerial posts in leading investment entities such Deutsche Bank and Goldman Sachs.

 

- Shihana Alazzaz - Head of Legal Affairs

  

Shihana holds a Bachelor's degree in law from Durham University. She is licensed to practise law by the Saudi Ministry of Justice, as well as the Supreme Court in the state of New York. She previously worked in Vinson and Elkins, and Baker McKenzie, in addition to other regional offices in both Dubai and Kuwait.

 

- Rakan Tarabzoni – Head of Corporate Communications

 

Rakan holds a Bachelor's degree in Computer Engineering Science from Pacific University in the USA. A marketing and communications professional, who worked for several global & local entities including Microsoft, Procter & Gamble, Integrated Communications Group, Blueprint Communications and the National Commercial Bank (NCB).

- Martin Botha – Head of Risk Department

 

Martin holds a Bachelor's degree in Economic Sciences and Information Technology and a Master's degree in Economic Science and Risk Management . He has previously worked at a range of global institutions, including McGraw Hill Financial, IBM, Hermes Investment Management, and Kleinwort Benson.

 

- Richard Collins – Head of Compliance Department

 

Richardf holds a Master's degree in Literature from Cambridge University. He has held several managerial posts in several global financial entities, including Lloyds TSB and Wood Mackenzie. He is also a tribunal member (Accountancy Disciplinary Scheme) at the UK’s Financial Reporting Council.

 

- Dennis Johnson - Chief Strategy Officer

 

Dennis holds a Bachelor’s degree in Economics from the Virginia Military Institute, and a Master's degree in Financial Management from the Virginia Commonwealth University. He has previously worked as Chief Investment Officer at TIAA, and has also held managerial posts at companies such as Citigroup, CalPERS, and Comerica.