CEO of New Turkish SWF Ousted

September 18, 2017 by Loch Adamson

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Turkey's President Recep Tayyip Erdoğan has summarily removed Mehmet Bostan, chairman and CEO of the country's new sovereign wealth fund, from his post; Korea Investment Corporation's CEO has been tipped for a new role; and the Ireland Strategic Investment Fund has staked a claim to advances in agricultural technology. CEO of Turkey’s New SWF Removed Amid Political Infighting Turkish President Recep Tayyip Erdoğan has announced that Mehmet Bostan, head of the country’s fledgling sovereign wealth fund, has been removed from his post. The decision to oust Bostan, a financial services expert who was both chairman and chief executive officer of the Turkiye Wealth Fund (TWF), was a joint one made with Prime Minister Binali Yildirim, Erdoğan said in televised remarks to reporters on September 8. The announcement came at a particularly embarrassing moment for Bostan, who was attending the annual conference of the International Forum of Sovereign Wealth…

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