|06 August, 2019

Bahrain's sovereign wealth fund appoints new CEO

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

Image used for illustrative purpose. Bahrain Manama Skyline at Twilight, Manama Cityscape with office buildings, hotels and the world trade center of the capital of Bahrain illuminated at night under beautiful skyscape.

Image used for illustrative purpose. Bahrain Manama Skyline at Twilight, Manama Cityscape with office buildings, hotels and the world trade center of the capital of Bahrain illuminated at night under beautiful skyscape.

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ABU DHABI- 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.

(Reporting by Stanley Carvalho, editing by Louise Heavens) ((stanley.carvalho@thomsonreuters.com; + 9712 6444431; Reuters Messaging: stanley.carvalho.thomsonreuters.com@reuters.net))