Kuwait Is Said to Remove Head of $1 Trillion Wealth Fund KIA (1)

Kuwaiti officials have removed the managing director of the country’s $1 trillion wealth fund, a decision that could trigger further changes at one of the world’s largest sovereign investors, according to people familiar with the matter.

Ghanem Al-Ghenaiman was notified on Thursday his tenure was being cut short and he completed a smooth handover, the people said, declining to be identified discussing confidential information. Al-Ghenaiman, who is 65 and at retirement age according to the law, was appointed to the Kuwait Investment Authority in 2021 for a four-year term.

Ghanem Al-Ghenaiman

Photographer: Christopher Pike/Bloomberg

Officials have considered replacing him with KIA board member Sheikh ...