Saudi Arabia Is Hiring Senior Bankers For Its New $2 Trillion Wealth Fund
Looking for a new job? Saudi Arabia’s Public Investment Fund is hiring senior bankers to help the kingdom run what could easily become the world’s largest sovereign wealth fund.
The fund holds $100B worth of stakes in local companies, but is preparing to expand itself so it eventually controls more than $2T as the oil age reaches its twilight years. The kingdom is working with US executive search firm Korn Ferry International to fill empty positions, Bloomberg reports.
With recent global market turmoil, sovereign wealth funds—including the world's largest, Norway's $850B petro-backed giant—have been shifting funds into the relative safe haven of real estate. Adding a $2T Saudi fund to the mix could spell a big market shakeup.
So what jobs are open for the new fund?
Head of private equity, head of real estate, head of risk management and head of markets—so send your résumé if you’re looking for a change of scenery. [Bloomberg]