Bahrain’s sovereign wealth fund appoints new CEO

Bahrain’s sovereign wealth fund, Mumtalakat, has appointed Khalid al-Rumaihi as its new chief executive officer.

Rumaihi was a member of the board of directors of Mumtalakat and head of the Board Investment Committee since 2015, a statement from the fund said on Tuesday.

He also led the Bahrain Economic Development Board (EDB)as chief executive.

Rumaihi replaces Mahmood Alkooheji, who was chief executive since Mumtalakat was established in 2006.

Mumtalakat with $16.8 billion in assets, holds stakes in more than 60 local and international entities, operating in 14 countries.