Meet Fahad Al-Saif, PIF exec and Saudi Arabia's new investment minister
Saif previously led investment strategy at the kingdom's sovereign wealth fund and has held senior roles at the Saudi Awwal Bank and HSBC Saudi Arabia.
In a surprise reshuffle, Saudi Arabia on Thursday appointed Fahad Al-Saif as investment minister, installing a Public Investment Fund strategist and veteran banking executive in the role as the kingdom reassesses its economic plans.
Saif replaces Khalid Al-Falih, who was relieved on Thursday from the position he had held since 2020.
Who is Saif? The new minister comes from the Public Investment Fund, Saudi Arabia’s sovereign wealth fund and the primary vehicle for financing Crown Prince Mohammed bin Salman’s Vision 2030 plan. Saif most recently served as head of the Investment Strategy and Economic Insights division at the PIF, a position he has held since 2024.
The fund manages an estimated $1.18 trillion in assets.
