Bahrain's $9 billion sovereign wealth fund Mumtalakat appointed Mahmood Hashem al-Kooheji as its new chief executive on Wednesday, replacing Talal Al Zain who resigned last month to set up his own investment firm.
Kooheji, who was deputy chief executive of the fund since 2006, was also mostly recently the chief executive of Bahrain-based labour fund Tamkeen, Mumtalakat said in a statement.
The Kooheji family owns one of the largest family businesses in the Gulf Arab island kingdom and has close ties to the ruling royal al-Khalifa family.
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