JP Garnier, outgoing chief executive of GlaxoSmithKline, has agreed to join a newly formed advisory board of Dubai International Capital, the Middle East Emirate's $13bn sovereign wealth fund.
Mr Garnier, who will take up the position in January, will help DIC to seek out investments abroad.
The fund is the investment vehicle most often used by the Dubai government for foreign acquisitions, which have become a priority as it tries to diversify away from its dependence on oil revenues and establish itself as the financial centre of the Middle East.
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“While I remain 24/7 at GSK until May, I am excited about the opportunity to join Dubai International Capital,” Garnier told the FT yesterday.
Yes, I'm 24/7 at GSK until May counting the dollars I'll be earning with Dubai.
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