Saudi PIF said to hire development officer from Qatari Diar

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), hired Greg Bankhurst as its chief development officer earlier this year amid plans to invest billions of dollars in tourism and property projects, Bloomberg reported, citing unnamed sources.

Bankhurst has worked previously as the chief executive officer of Qatar Investment Authority’s (QIA) real estate arm, Qatari Diar.

The report said Blankhurst started working at the fund in June, according to his LinkedIn profile.

Jayson Miragliotta also joined the PIF as executive director of master planning in August. He previously held posts at Dubai-based Emaar Properties and Majid Al Futtaim.

The fund could have assets of as much as $2 trillion once ownership of Saudi Arabian Oil Co. (Saudi Aramco) is transferred, according to Crown Prince Mohammed Bin Salman. Under a state reform program, the PIF is being transformed from a largely domestic-focused holding company into an international investment company.