The emir of Qatar has removed the chief executive of the country’s sovereign wealth fund a day before it faces a “put up or shut up” deadline in its bid to win control of Canary Wharf.
Sheikh Tamim bin Hamad al-Thani said yesterday that Ahmad al-Sayed, chief executive of the Qatar Investment Authority, had been replaced by Sheikh Abdullah bin Mohammed bin Saud al-Thani, a member of Qatar’s ruling royal family.
The emir, whose decision comes only 18 months after he appointed Mr al-Sayed, has also ordered a reshuffle of the QIA board.
The surprising move came on the eve of a UK Takeover Panel deadline today when QIA and Brookfield Group, its Canadian partner, must make a formal offer for Songbird Estates, the majority