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QIA to hire ex-Credit Suisse to support investment team

By Pramod Kumar
India AMD Unsplash.com
Reliance sees merit in getting into semiconductors as the move would help safeguard against chip shortages

Qatar Investment Authority (QIA), the Gulf nation’s $450 billion sovereign fund, is likely to hire Hussam Qasim from Credit Suisse Group AG to boost its domestic investment team.

Qasim will join in the coming months, Bloomberg reported citing informed sources.

He was previously a director for investment banking and capital markets for Credit Suisse in the Middle East and North Africa.

The Qatari fund strives to draw investments in new frontiers and sectors such as technology and healthcare. These inflows will likely be diverted into the US and Asia to cover areas such as climate change, digitisation and infrastructure.

Qasim’s LinkedIn profile shows he has worked with UBS Group AG and Morgan Stanley.

Established in 2005, QIA’s domestic holdings include stakes in Qatar National Bank – the Middle East and Africa’s biggest bank by assets – and former telecom monopoly Ooredoo.

The fund’s domestic investment team oversees local entities that could be consolidated or listed in the future, the report said.

QIA appointed an ex-Morgan Stanley managing director as head of capital markets and a former JP Morgan Chase & Co. executive as chief financial officer last year.

In June, the sovereign fund was part of a €255 million ($275.4 million) investment in German biotech company ITM Isotope Technologies Munich SE, while in May it increased its stake in Turkish online marketing platform Insider.

In the same month, QIA led a $250 million investment round into London’s Builder.ai, an AI-powered software developer.

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