Qatar might not be doing so well in its home-hosted World Cup, but that doesn’t mean they aren’t scoring elsewhere. The QIA was founded by the State of Qatar in 2005 to strengthen the country’s economy by diversifying into new asset classes. One of the top ten sovereign wealth funds in the world by assets under management (AUM), the QIA has been one of the leaders in talent acquisition in recent years.
In its latest pickup, Niall Byrne, a former executive of JPMorgan Chase & Co., has been hired by the Qatar Investment Authority, to serve as Chief Financial Officer (CFO) of the $450 billion sovereign wealth fund of the Gulf emirate.
According to his LinkedIn page, Byrne just started working for QIA this month, with confirmation from him this morning. He has nearly 30 years of experience working in the banking industry. In the past, he worked for JPMorgan, where he held positions such as chief operating officer and chief financial officer of the asset management division’s worldwide fixed income, currency, and commodities businesses.
In order to strengthen its senior ranks, QIA has been actively recruiting Wall Street industry professionals. According to a story from Bloomberg News that was published a month ago, the company has recently hired Gautier Martin-Regnier, a former managing director in EMEA equities capital markets for Morgan Stanley, to serve as its global head of capital markets.
Even if the total number of worldwide deals has decreased this year and banks have reduced the amount of money they lend for acquisitions, sovereign wealth funds have remained to be active acquirers. In October, QIA reached an agreement to make an investment of €2.4 billion ($2.5 billion) in RWE AG to support the German utility’s acquisition of renewable assets in the United States. Additionally, it was a cornerstone investor in the initial public offering of the sports car manufacturer Porsche AG and has invested in a number of technology businesses.
According to Mohammed Al-LinkedIn Hardan’s profile, QIA has promoted him in recent months to the position of head of technology, media, and telecom investments. He took over for Sumit Pande, who had earlier in the year decided to leave the state-owned fund in order to seek other opportunities.
The appointments were validated by a representative from the QIA.