Qatar Holding picks ex-BofA banker for senior M&A role

  • Share via facebook
  • Tweet this
  • Bookmark and Share
(Photo for illustrative purposes only)

(Photo for illustrative purposes only)

Qatar Holding, the investment arm of the Gulf state's sovereign wealth fund, has hired former Bank of America Merrill Lynch employee Michael Cho to take a senior role in its mergers and acquisitions (M&A) team.

Cho, who was co-head of Asia mergers and acquisitions at BofA Merrill until early last year, will be the point man for what is one of the world's most aggressive investors, an organisation tasked with building a portfolio of major assets, banking sources said.

One source, speaking on condition of anonymity, said Cho would be heading the fund's M&A division, a post that has been empty since 2011. Two other sources said only he would be taking a senior role in the M&A team.

The fund's spokesman was unreachable for comment. Reuters reached Cho at Qatar Holding on Wednesday, but he declined to make any comment on his role.

The tiny Arab state has already used its natural gas riches to take stakes in Credit Suisse, Royal Dutch Shell and Glencore and is a target for states and multinationals seeking buyers or extra capital.

Qatar Holding's parent, the Qatar Investment Authority (QIA), is estimated to have assets of $100-$200bn with an investment outlay of about $30bn every year mostly channelled through its investment arm.

The appointment comes at a time of broader transition in the wealthy Gulf state that saw the emir hand over power to his 33-year-old son Sheikh Tamim bin Hamad al-Thani last month.

Bankers and others in the investment community have speculated that the sovereign fund may take a more cautious stance as a result of the changes.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Finance talk with RAKBANK

Finance talk with RAKBANK

StartUp sat down with RAKBANK’s head of personal banking, Ian...

Tips from the top: Hisham Al Gurg

Tips from the top: Hisham Al Gurg

High profile investor and entrepreneur Hisham Al Gurg discusses...

1
The hubsters' ecosystem

The hubsters' ecosystem

Tamara Pupic visits Impact Hub Dubai, the first local branch...

Most Discussed
  • 24
    World's most pierced man refused entry to the UAE

    Tolerance has its limits everywhere including Dubai and those who considered Dubai a lawless circus were held accountable...so thank you Dubai authorities... more

    Thursday, 21 August 2014 10:51 PM - Khalil
  • 23
    Baby NOT on board?

    Some of you cry babies need to get your own personal apartments on the plane ! You cry more then the babies I have seen in my travels. LOL more

    Thursday, 28 August 2014 9:10 AM - Jim
  • 21
    Israel “must be punished” over Gaza, says Dubai police chief

    This high moral ground that Mick is talking abt sound very familiar. May I remind Mick that the US & its British ally alone killed over 1 million innocent... more

    Thursday, 7 August 2014 4:12 PM - Mathew