The outgoing chief executive of the Qatar Investment Authority (QIA), Ahmed al-Sayed, is set to be appointed an advisor to the Gulf Arab state's emir, a source with knowledge of the matter told Reuters.
Sayed will also retain his title of minister of state, which he held concurrently with his position as head of the sovereign wealth fund, the source added, speaking on condition of anonymity due to the sensitivity of the information.
On Wednesday, it was announced that Sheikh Abdullah bin Mohamed bin Saud al-Thani had been named the head of the QIA, replacing Sayed in a reshuffle which resulted in a number of changes of personnel at board level.
The QIA has recently focused on Asia as it looks to diversify its portfolio of assets away from Europe, where it has predominantly invested in the last few years.
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