Saudi Arabia’s $320 Billion Pension Fund Names Ex-Banker as CEO

Saudi Arabia’s $320 billion pension fund manager has hired the former head of local investment bank Riyad Capital as its new chief executive officer.

Sabty Sulaiman Al-Sabty will take over as CEO on Dec. 1, a Hassana Investment Co.spokesperson told Bloomberg News. He succeeds Saad Alfadly, who left after over a decade in the role and later joined Brookfield Asset Management Ltd.as chairman of its Saudi Arabia operations.

A veteran of the kingdom’s financial sector, Al-Sabty sits on the board of the stock exchange owner Saudi Tadawul Group. He previously worked at the Saudi securities regulator, ...