DOHA: Qatar’s Amir on Tuesday appointed Mohammed Al-Sowaidi as CEO of the Qatar Investment Authority (QIA), according to a statement issued by the Amir’s office. Al-Sowaidi served as the $510 billion sovereign wealth fund’s chief of investments in the Americas and previously established the fund’s offices and investment team in New York. He replaces Mansour Ibrahim Al-Mahmoud as the QIA’s CEO, whom the emir on Tuesday appointed as Qatar’s next minister of health.

Speaking at the Qatar Economic Forum in May, Al-Sowaidi set out the QIA’s investment priorities. “Investments that are generally long-term in nature, that could compound with time (and) marry it with some of the themes that we believe in; digitalization, decarbonization, sustainability, inclusivity, growth,” he said. “We do invest as a minority investment most of the time so having like-minded shareholders and stakeholders is super important.”

As part of a broader cabinet shuffle, the Amir also appointed Sheikh Faisal bin Thani bin Faisal Al-Thani as the country’s new minister of commerce and industry. Sheikh Faisal is the QIA’s chief of Asia-Pacific and Africa investments and the chairman of Qatari telecoms group Ooredoo. It is unclear if he will remain in those roles.

Additionally, the Amir appointed Lolwah bint Rashid Al-Khater as the new education minister. She served previously as minister of state for international cooperation and led Qatar’s global humanitarian efforts, especially in Gaza and Lebanon. She also spearheaded Qatar’s role in brokering the return of dozens of Ukrainian children from Russia or Russian-occupied territory.

The emir also appointed Sheikh Saud bin Abdulrahman bin Hassan bin Ali Al-Thani as deputy prime minister and minister of defense. — Reuters