Sovereign Wealth Fund Group Elects New Leaders

The head of Morocco’s strategic investment fund was elected to chair the IFSWF for a three-year term.



The membership of the International Forum of Sovereign Wealth Funds this week elected a new board for a three-year term that expires in 2027. The vote was held at the IFSWF’s 16th annual general meeting in Muscat, Oman.

Obaid Amrane, CEO of Morocco’s Ithmar Capital, who was previously the organization’s acting chair, was elected to chair the organization for a three-year term.

Israfil Mammadov, CEO of the State Oil Fund of the Republic of Azerbaijan, was elected as deputy chair and will be the organization’s next chair, following Amrane’s three-year term.

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In 2024, full IFSWF members voted unanimously to increase the number of non-elevated directors to four from three. The new directors are:

  • Dhaen Al Hameli, executive director of the Abu Dhabi Investment Authority;
  • Liu Haoling, vice chairman, president and CIO of the China Investment Corp.;
  • Will Hetherton, head of corporate affairs at Australia’s Future Fund; and
  • Wong Ai Chiat, head of governance and client relations and director of the corporate administration and infrastructure department of Singapore’s GIC.

“As sovereign wealth funds, our focus must extend beyond generating returns to ensuring sustainability, resilience, and adaptability for the benefit of our nations,” Mammadov said in a statement. “I am delighted to be elected as deputy chair by IFSWF members.”

The Alaska Permanent Fund is the forum’s only U.S.-based member.

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