The head of Bahrain's sovereign wealth fund quit over differences of strategy with the board, disappointed by its lack of deal-making as it focuses on reviving loss-making domestic assets, sources familiar with the matter said on Tuesday.
Talal Al Zain, the urbane former investment banker, told Reuters on Monday he would leave his job as chief executive of Mumtalakat, the $9bn sovereign fund, to set up a new investment firm in the Gulf island kingdom.
The sources said Al Zain was particularly frustrated with the board's focus on housekeeping at debt-laden national carrier Gulf Air, which Mumtalakat owns.
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