Muscat, Oman, 7 November 2024—Today, the membership of the International Forum of Sovereign Wealth Funds (IFSWF) has elected a new board for a three-year term that expires in 2027. The vote was held at the IFSWF annual general meeting during the organisation’s annual meeting, hosted by Oman Investment Authority in Muscat from 3-6 November.
Israfil Mammadov, CEO of the State Oil Fund of the Republic of Azerbaijan (SOFAZ), was elected as Deputy Chair and will ascend to the chair at the end of this three-year term. Obaid Amrane, previously Acting Chair, will ascend to the Chair position for three years.
In 2024, full IFSWF members voted unanimously to increase the number of non-elevated directors from three to four. There were eleven candidates for these four positions, and the members voted for the following candidates:
- Dhaen Al Hammeli, Executive Director, Abu Dhabi Investment Authority
- LIU Haoling, Vice Chairman, President, and Chief Investment Officer, China Investment Corporation
- Will Hetherton, Head of Corporate Communications, Future Fund
- WONG Ai Chiat, Head of Governance and Client Relations (GCR) and Director of the Corporate Administration & Infrastructure Department, GIC
Duncan Bonfield, CEO of the IFSWF Secretariat, said: “We were delighted to see such a large number of excellent candidates for the IFSWF board, which showcased the exceptional talent that we have among the leaders of IFSWF members. In the end, the result was close, and this is testament to the commitment and engagement of our members in the work of IFSWF: promoting good corporate governance and transparency and building strong networks between members, the private sector and development finance and multilateral institutions.”
Israfil Mammadov, CEO of SOFAZ, said: “As sovereign wealth funds, our focus must extend beyond generating returns to ensuring sustainability, resilience, and adaptability for the benefit of our nations, and I am delighted to be elected as Deputy Chair by IFSWF members.”
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