RPT-Saudi PIF boosts trading team to back opportunistic buying strategy - Reuters:
Saudi Arabia’s main sovereign wealth fund has boosted its trading team to pursue further an aggressive strategy that saw it sell more than a dozen global stocks for short-term profit in the second quarter of 2020.
The more than $300 billion Public Investment Fund (PIF) has built a small team of traders to execute its trading strategy who report to its head of international investments, Turqi al-Nowaiser, two sources familiar with the matter said.
Last month, PIF hired Maziar Alamouti, a former head of trading at advisory and wealth management firm Quilter Investors, two sources told Reuters.
Alamouti is part of the Public Markets team, which is responsible for further building out the PIF’s trading capabilities, one of the sources said.
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