Egypt's Sovereign Fund has appointed Abdallah El-Ebiary head of the investment sector, the fund reported in a statement on Monday.
Naming El-Ebiary is in line with the fund's strategy to attract the qualified cadres who can implement the fund’s action plan.
CEO of the fund Ayman Soliman said El-Ebiary is a valuable addition to the fund, being an expert in direct investment and private property management.
“El-Ebiary will play a key role in leading the fund’s investment team, encouraging domestic, regional and international investors to cooperate with the fund in its targeted sectors. Moreover, he will set the investment priorities for the fund, and create new venture opportunities,” said Soliman.
El-Ebiary said that the fund adopts an ambitious strategy that focuses on creating a sustainable value for the coming generations through tapping state-owned assets and boosting the private sector’s local and international investments, in addition to developing sectors that play a leading role in the Egyptian economy.
El-Ebiary is chairman of the Egyptian Private Equity Association (EPEA), which is a non-profit organisation that serves direct investment and venture capital providers.
He also worked in investment banks management at Merrill Lynch and served as business analysis manager at the American MeadWestvaco Corporation.