PIF appoints 3 senior executives to support expansion strategy

Logo of the Public Investment Fund (PIF)

The Public Investment Fund (PIF) announced today, June 13, the appointments of Eyas AlDossari and Omar AlMadhi as senior directors to its MENA Investments Division, and Abdullah Shaker as senior director to its Global Capital Finance Division, the fund said in a statement.

The new appointments bolster the fund’s leadership team as it implements its ambitious plans as one of the world’s largest and most impactful investors, with the stated aim of reaching assets under management (AUM) of over SAR 4 trillion while investing SAR 150 billion annually into the local economy through 2025.

The appointments will help support the delivery of PIF’s strategy as it furthers its considerable expertise, experience and leadership, both within PIF and across its many portfolio companies.

AlDossari will head Investment Advisory within the MENA Investments Division, supporting the decision-making process of investment activities and capital recycling while working closely with other PIF Executive Investment team members.

He previously served as managing director and head of Investment Banking for Goldman Sachs Saudi Arabia, a position he held since 2017. He holds a BS in the Science of Finance from the King Fahd University of Petroleum and Minerals.

Meanwhile, AlMadhi brings a wealth of senior experience from leading national and international organizations, including Abdul Latif Jameel Investments, Volkswagen Group, McKinsey & Company, and Saudi Aramco.

He is chairman of the Board and the Executive Committee of the Saudi Fisheries Co. and also a board member of National Agricultural Development Co. (NADEC) – one of the key portfolio companies of PIF.

AlMadhi holds a BS in Chemical Engineering from the University of Pennsylvania and an MBA from the MIT Sloan School of Management.

Shaker will head the Capital Finance Advisory and Planning department within PIF’s Global Capital Finance Division to become a Center of Excellence for providing holistic transactions advisory.

He brings 24 years of experience across banking, financial services and consulting, including with leading organizations, such as Deloitte Financial Advisory Services, HSBC Saudi Arabia, and the Capital Market Authority. He holds a BS in Accounting from King Abdulaziz University and two Master’s degrees, in Accounting Science and Capital Markets, from the University of Illinois.

The MENA Investment Division shapes PIF’s investment strategy for its local portfolio holdings in Saudi Arabia and the MENA region, focusing on industries and companies that maximize long-term returns, drive economic development, and contribute to the diversification of the Saudi economy. The Global Capital Finance Division is responsible for developing and implementing PIF’s strategic medium-term capital raising strategy, which is built around four clearly established sources of funding as outlined in PIF’s Vision Realization Program (VRP) 2021-2015.

While the Global Capital Finance Division is responsible for ensuring consistency and continuity of PIF’s ability to raise capital within sustainable parameters, its MENA Investment Division oversees the deployment of significant capital as a cornerstone investor over a long-term investment horizon. MENA Investments manages an exceptional portfolio of local and regional companies, in addition to a robust pipeline of new investments in various sectors, both generating long-term value for PIF and for Saudi Arabia in line with Vision 2030, the fund concluded.