Turqi Al-Nowaiser is the Deputy Governor and Head of the International Investments Division at PIF since 2021. Prior to this role, he served as the Head of International Investments at PIF and held the position of Senior Advisor at PIF (2015-2016).

In his capacity, Al-Nowaiser provides leadership to PIF’s International Investment strategy encompassing diverse asset classes such as public markets, private markets, real estate, and infrastructure. He plays an integral role as a member of key committees including, but not limited to, the PIF Management Committee, Investment Management Committee, and Portfolio Companies Nomination Committee.

Prior to joining PIF, Al-Nowaiser held several executive roles at Saudi Fransi Capital, a leading financial services firm based in Saudi Arabia, including Head of Asset Management. Before Saudi Fransi Capital, Mr. Alnowaiser specialized in developing, managing, and regulating various financial products across asset classes at Morgan Stanley, the Capital Market Authority of Saudi Arabia, and the Saudi Industrial Development Fund.

Al-Nowaiser serves on several distinguished boards, notably as the Chairman of Lucid Group, Chairman of Manara Minerals, and Board Member of Azimut Benetti, Hapag-Lloyd, Sanabil Investments, Saudi Information Technology Company, among others.

Al-Nowaiser holds a bachelor’s degree in International Business from King Saud University, along with an MBA from the University of San Francisco.

Yazeed A. Al-Humied is Deputy Governor and Head of MENA Investments of PIF. He previously served as PIF’s Chief of Staff from the time he joined in 2015. He took up his current role in 2021. The Deputy Governor role’s focus is driving PIF’s growth, and involves chairing several PIF-wide management committees on behalf of His Excellency the Governor.

 

At MENA Investments, Al-Humied’s job involves managing the local investments portfolio, investments across the Middle East and North Africa, as well as investments in private and listed companies and funds. Al-Humied also drives efforts to attract international strategic partners to invest in Saudi Arabia so as to localize cutting-edge technologies as well as enable effective execution of PIF's role as a driver of the Saudi economy. His division manages a portfolio of almost 100 companies belonging to various strategic priority sectors and works to enhance the performance of these companies. Al-Humied also serves on the boards of several highly strategic Saudi companies. His appointments include being Chairman of the National Security Services Company (SAFE) and Vice-Chairman of the Saudi National Bank (SNB), the Saudi Tadawul Group (STG), Saudi Telecom Company (stc) and Saudi Arabian Airlines (Saudia).

 

Prior to working with PIF, Al-Humied worked with the Saudi Capital Markets Authority (CMA) where he headed the mergers and acquisitions team. While at CMA, he was also seconded to work at the Malaysian Securities Commission as well as with the U.K.’s regulatory entity for mergers and acquisitions. Before working with CMA, he served with PricewaterhouseCoopers in a series of roles.

 

He holds a bachelor’s degree in accounting from King Saud University, and has various certifications from other international academic institutes including Harvard University and London Business School.

Aiman M. AlMudaifer serves as Head of the Local Real Estate Division at PIF, a position he has held since 2018. He provides leadership for PIF's Saudi real estate investment strategy encompassing Saudi giga-projects and local real estate and infrastructure development.

 

The giga-projects portfolio includes five developments: NEOM, Red Sea Global, Qiddiya, Roshn and Diriyah. Meanwhile, the real estate and infrastructure pool includes investments across diverse asset classes such as hospitality, retail and leisure, solidifying Saudi Arabia's position as a tourism hub. The division oversees all activities related to real estate investment portfolios and local infrastructure projects, including establishing and launching new projects and companies while working to enhance their performance.

 

AlMudaifer is also the acting CEO of NEOM and chairs the board of KAFD Development and Management Company, as well as being on the boards of New Murabba, Diriyah Gate, Soudah Development, and Jeddah Central, among others. He is also on the boards of some governmental entities, including the General Authority of Civil Aviation and the Saudi Red Sea Authority.

 

Prior to working with PIF, AlMudaifer worked as CEO of Shomoul Holding Company, as well as being founder and CEO of Andalus Company. He also served with the licensing department of the Capital Market Authority. He began his career as a credit consultant with the Saudi Industrial Development Fund (SIDF).

 

He holds a bachelor’s degree in systems engineering from King Fahd University of Petroleum and Minerals, and has also participated in the Cooperation Program between Chase Manhattan Bank and SIDF.

Yasir A. AlSalman joined PIF as the Chief Financial Officer in 2016. He also sits on the board of the following companies as a member: King Abdullah Financial District Development Company, Riyad Bank, Saudi Agricultural and Livestock Investment Company, Saudi Arabian Military Industries, and the Water Solutions Company.

AlSalman started his career in 2001 at Arthur Andersen as an Auditor, progressing to Senior Auditor at PricewaterhouseCoopers (2002-2005), before joining the Kingdom Holding Company in 2008 to become the Executive Manager of the Finance department. He moved to Mobily Company as General Manager of Investments (2014-2015) and then joined the Saudi Agricultural and Livestock Investment Company as the Chief Financial Officer.

AlSalman received his postgraduate degree in Accounting and Information Systems from Middle Tennessee State University in 2007 and his bachelor’s degree in Accounting from King Saud University in 2001. He is a SOCPA Certified Accountant.

Bander Bin Mogren joined PIF as the Chief Operating Officer in 2016, where he leads the development of PIF’s shared services function as well as the strategic transformation of Information Technology systems and infrastructure.

Mogren is also a member of the PIF Portfolio Companies Nomination Committee, a board member of the Saudi Technology Development and Investment Company (TAQNIA), the Chairman of its Remuneration Committee, Vice Chairman of the Board of Directors of the Electronic Games Infrastructure Company, and Chairman of its Nominations and Remunerations Committee.

A Board Member of King Abdullah Financial District Development Company and Chairman of its Nomination Remuneration Committee, Mogren is also a member of the Board of Directors of the Gulf International Bank Bahrain and Saudi Arabia and its Nomination and Remuneration Committee (GIB), plus a Board Member of Jassara. In addition, he is a Board Member of the Nomination Remuneration Committees of the Saudi Tadawul Group, Sanabil Investments, Noon, and the National Center for Privatization, the Royal Court Decision Support Center (DSC), NEOM, Qiddiya Investment Company, a Member at the Saudi Arabian Military Industries and an NRC Member in the Aviation Services Company.

Prior to joining PIF, he was the Managing Director of Human Resources and Corporate Services at NCB Capital. Bander has held key positions at several Saudi’s leading investment institutions including Head of Human Resources in Jadwa Investments.

Mogren holds a double major bachelor’s degree in Human Resources and Business Administration from Eastern Washington State.

Mr. AlSaif is a Head of Global Capital Finance Division, Head of Investment Strategy and Economic Insights Division.

Mr. AlSaif worked on developing PIF’s green financing framework and obtaining an investment grade inaugural credit rating by international rating agencies, and subsequently launching PIF's debut international bond program; issuing the first green bond with a 100-year tranche, the first bond of its kind globally by a Sovereign Wealth Fund, simultaneously. Among other efforts that support PIF and its portfolio companies, Mr. AlSaif worked on diversifying the sources of capital to fund transformational projects across different sectors.

Mr. AlSaif holds more than 26 years of experience in leading diverse functions including treasury, investment, debt capital management, and corporate finance. He started his career in the private sector and served in senior positions in both Saudi British Bank (SABB) and HSBC Saudi Arabia for over a decade. Following his private-sector stint, he then took on a public-sector role within Saudi Arabia’s Ministry of Finance, where he served as a senior advisor to the Minister, His Excellency Minister of Finance, and established and headed the ministry’s debt management function, later renamed as National Debt Management Centre (NDMC), where he served as the Chief Executive Officer and Board member.

Mr.Alsaif is an Information Systems graduate from King Fahad University of Petroleum and Minerals.

 

Government Sector 

 

• Head of Global Capital Finance Division, and Head of Investment Strategy and Economic Insights Division – PIF
• Management Committee Member- PIF
• Management Liquidity Committee Member-PIF
• Credit Committee Chairman -PIF
• Financial Sector Development Program member
• Fiscal Sustainability Program Member
• Board Member, Insurance Authority
• Funding Committee member, Saudi Global Enterprises Office 
• Investment Committee Member, Events Investment Fund
• Executive Committee Member, Insurance Authority 

 

Private Sector 

 

• Board Chairman, Aircraft Leasing Company (AviLease)
• Board Chairman, Emaar The Economic City (EEC) 
• Board Vice-Chairman, Bahri Company
• Board Vice-Chairman, The Saudi Real Estate Refinance Company (SRC)
• Board Member, King Salman International Airport Development Company (KSIADC)
• Board member, Gulf International Bank (GIB)
• Board member, ACWA Power 
• Board member, Voluntary Carbon Market Company (RVCMC)
• Audit and Risk Committee Chairman, King Salman International Airport Development Company (KSIADC)
• Executive Committee Chairman, Emaar The Economic City (EEC)
• Executive Committee Chairman, Aircraft Leasing Company (AviLease)
• Executive Committee member, The Saudi Real Estate Refinance Company (SRC)
• Executive Committee member, Bahri Company
• Executive Committee member, ACWA Power
• Executive Committee member, Gulf International Bank (GIB)
• Audit and Risk Committee, Gulf International Bank (GIB)
• Investment & Funding Committee member, NEOM
• Nomination and Remuneration Committee member, The Saudi Real Estate Refinance Company (SRC)

 

Past Professional Experiences:

 

• Advisor to His Excellency the Minister of Finance 
• CEO and Board Member National Debt Management Center
• Deputy Managing Director - SABB
• General Manager, Global Banking Services and Markets - SABB
• General Manager and Head of Corporate Finance and Capital Markets - HSBC Saudi Arabia
• General Manager and Head of Debt Capital Management - HSBC Saudi Arabia
• Head of Risk Advisory, Treasury Department - SABB
• Head of Investment and Trade Department, Treasury Department - SABB

Rania Nashar is PIF’s Head of Compliance and Governance. She also serves as a senior advisor to the Governor of PIF, in the areas of business and governance: a position she has held since 2021.

 

Her role as Head of Compliance and Governance sees her strengthening of PIF’s adherence to laws, regulations, and internal policies by advising on compliance risks and assessing and monitoring risks of financial crime, regulatory compliance and business conduct through a comprehensive compliance program. She also oversees the construction of a robust and efficient governance structure to empower informed decision-making by setting high standards for PIF and its portfolio companies. Nashar chairs the Regional Voluntary Carbon Market Company. She also serves on the boards of stc Group, Saudi Tadawul Group, the SME Bank, the National Center for Performance Measurement, Almabani General Contractors, Saudi Water Solutions Company, Muwakaba Investments Company and the Saudi Polo Federation. She also chairs the FII Audit Committee.

 

Prior to joining PIF, Nashar served as the CEO of Samba Financial Group, making her the first Saudi woman to lead a major banking group in Saudi Arabia. She first joined Samba in 1997 at the start of her banking career, and worked in various positions across different divisions of the banking group. She is also the first woman in the GCC financial sector to lead a compliance group and the first Saudi woman to be named a certified anti-money laundering specialist by the Association of Certified Anti-Money Laundering Specialists in the USA. During Saudi Arabia’s presidency of the G20 Nashar chaired the B20 Women in Business Action Council and the G20 Alliance for the Empowerment and Progression of Women's Economic Representation.

 

She is an honor graduate in computer science and technology from King Saud University. She has been recognized by Forbes on multiple occasions for her professional achievements, being named among the Top 100 Powerful Women in the World in 2018, 2019 and 2020.

Saad Alkroud is Chief of Staff as well as being Secretary General to the Board at PIF. He has held both positions since 2021. His responsibilities include overseeing PIF's business plan delivery, delivering the governance model for PIF portfolio companies and managing stakeholders. He has been with PIF since 2016.

 

Alkroud oversees the provision of support to PIF’s different divisions in developing strategies and business plans, managing institutional projects, establishing new companies and overseeing the affairs of PIF’s portfolio companies, stakeholders, committees and related reporting activities. He has also been Head of Stakeholder Management, where his job entailed overseeing international relationships and managing relations with government entities to deliver strategic initiatives and goals. He currently sits on several boards. He serves as the Chairman of the Board for Southern Province Cement Company, Dan Company and TAQNIA. Additionally, he holds the position of Vice Chairman at Alinma Bank and is a board member of Diriyah Company, as well as several other entities.

 

Prior to joining PIF, Alkroud worked with Mayaas Holding, a private wealth management and diversification company, where he was Vice President, among other roles. Before working with Mayaas, he was advisor to the Group Chairman at Abdullatif Alissa Group Holding.

 

Alkroud holds a bachelor’s degree in finance from King Fahd University of Petroleum and Minerals, and a master’s degree in management and leadership from the University of La Verne, California.

Kevin Foster joined PIF as Head of Corporate Communications in 2019, where he leads all internal, external, digital, brand, and corporate affairs communications activities. Foster is also a member of PIF’s Management Committee.

During his career, Foster has served in a variety of senior communication roles across leading global organizations, advising CEOs and other C-suite executives. Prior to joining PIF, Foster spent 12 years at Royal Bank of Canada (RBC), where he served in various roles including Managing Director, Global Head of Corporate Communications, where he headed up communications across the bank’s Capital Markets, Investor & Treasury Services, Private Bank, Wealth Management, and Insurance businesses. A member of the firm’s Operating Committee, Foster was appointed to 16 leadership committees at RBC.

Previously, Foster was the Head of Corporate and Financial Practice at top-10 global communications firms Weber Shandwick and GCI Group, where he led communications for several top global financial institutions. He also served as Global Head of Communications, Equities, for Standard & Poor’s. Most recently, he held the position of Chief Brand & Communications Officer at McDonald’s Corporation’s Ronald McDonald House Foundation, where he was a member of the Executive Committee of the Board of Directors. Foster also has an extensive background in politics, and is a former journalist.

Foster holds a bachelor’s degree in Economics and Political Science from the University of Massachusetts and three post-graduate degrees, including two master’s degrees in Journalism from Northeastern University, and an MBA from Boston College, plus a certificate degree in Foundations of Financial Management from the University of Western Ontario’s Ivey Business School.

Jerry Todd joined PIF as the Head of the National Development Division in 2020 and is a member of the PIF Management Investment Committee.

Prior to joining PIF, he served as a Managing Director and Head of Business Development for NCB Capital, the largest investment bank in Saudi Arabia (2014-2020). Previously, he was a Managing Director and Head of Private Equity and Investment Banking at Jadwa Investment, a Saudi merchant bank (2007-2014).

Todd was previously an Associate Principal at McKinsey & Company, where he focused on identifying and evaluating investment opportunities, developing and implementing growth strategies, and creating high performing organizations (1999-2006). Early in his career, Todd worked as an Energy Engineer for Dobbs International and Johnson Controls (1994-1997).

Todd holds an MBA from Cornell University (1999) and a bachelor of science degree in Mechanical Engineering from Christian Brothers University (1994).

Mike Cheng joined PIF in 2019 as the Head of the Internal Audit Division. He is responsible for the audit assurance activities of PIF, covering all investment activities and related support functions.

 

Within PIF, Internal Audit provides independent assurance to the board and executive management to ensure the overall effectiveness of business operations, governance and controls by conducting risk-based audit reviews over investments, risk management, information technology, information security, operational and financial support activities, and other related operations.

 

Cheng also currently chairs the audit and risk committees of ROSHN Real Estate Company, Savvy Electronic Gaming Holding Company and the Aircraft Leasing Company. He also serves as an audit committee member in Saudi Arabian Mining Company (Ma’aden), ACWA Power Company, and a number of non-listed companies.

 

Prior to joining PIF, he spent 13 years in a variety of locations across Asia, firstly as the Managing Director and the Head of Audit for Barclays Bank for the Asia region, and subsequently as the Chief Internal Audit Officer of Prudential Corporation Asia, overseeing audit activities. Before taking on these roles, Cheng held several senior audit positions within Deutsche Bank, covering investment-banking activities in Europe.

 

Cheng holds a bachelor’s degree in aerospace system engineering from Southampton University in England. He is a qualified chartered accountant with the Institute of Chartered Accountants in England and Wales, and with the Hong Kong Institute of Certified Public Accountants. He is a founding member of the Internal Audit Centre of Excellence Workgroup with the Singapore Accountancy Commission.

Feta Zabeli joined PIF as Head of Risk Division in June 2020, bringing 36 years of executive experience to the role.

Prior to PIF, he worked at Morgan Stanley Investment Management in New York as Managing Director and Chief Risk Officer (2012-2020), where he also performed a variety of board functions for the company’s various investment funds. Preceding that, his career spanned a variety of operational, developmental, research, and risk management functions throughout the U.S., Hong Kong, Tokyo, and London.

Zabeli holds a master’s degree in Business Administration from the University of California, Los Angeles (1992), a master’s of science degree in Electrical Engineering from the University of Southern California (1988), and a bachelor’s of science degree in Aeronautical/Mechanical Engineering from Rensselaer Polytechnic Institute (1982).