Erdogan Names Himself Chairman Of Turkey Wealth Fund In Overhaul | Cpi Financial News | Banking And Financial News,islamic Business And Finance, Commercial Banking
The shakeup consolidates the president’s influence over another key financial institution in Turkey. : President Recep Tayyip Erdogan appointed himself chairman of Turkey’s sovereign wealth fund and got rid of the entire management staff that had presided over two years of inaction. Zafer Sonmez, head of Turkey and Africa for Malaysia’s government investment vehicle Khazanah Nasional Bhd, was named general manager. Treasury and Finance Minister Berat Albayrak, Erdogan’s son-in-law, will also sit on the board, according to a decree published in the Official Gazette.