PIF appoints two deputy governors as Fund continues its expansion

PIF appoints two deputy governors as Fund continues its expansion

RIYADH “” The Public Investment Fund (PIF) Tuesday announced the establishment of two deputy governor roles in order to support the Fund's continued growth and expansion. The appointments follow the Board of Directors' approval of PIF's new organizational structure. Turki Bin Abdulrahman Alnowaiser, who heads PIF's International Investments Division, and Yazeed Bin Abdulrahman Alhumied, who leads PIF's MENA Investments Division, will take on their deputy governor roles alongside their current responsibilities. They will also act as deputies at selected existing management committees on behalf of PIF Governor Yasir Al-Rumayyan. There will be no changes to the current reporting structures to the governor, nor to the existing structure of the Fund's business units. The establishment of the two new deputy governor positions demonstrates the strength of PIF's leadership, its strong succession planning and its robust governance. The new structure will add to the world-class governance model PIF has in place to guide its domestic and international investment strategies. It will also help facilitate the delivery of PIF's 2021-2025 Strategy, announced earlier this year, and is in line with its position as one of the world's largest and most impactful investors. PIF aims to reach Assets Under Management (AUM) of over $1.07