The appointment of Khalifa, previously the bank’s chief business officer, follows former chief executive Ali Ahmed al-Kuwari moving to become Qatar’s minister of commerce and industry.
The business will draw on his experience of running investment teams for numerous leading financial institutions to take PAM to the next level as an investment service for The Fry Group, growing the PAM business across Asia and the Middle East.
Drury, who previously worked with Citi's European equity capital markets business, will start in his new role immediately, pending final regulatory approval.
The company is now licensed to offer investment funds management, discretionary portfolios management, deal arranging, advisory services, and custody arrangements.
At its first meeting held on October 21st, 2018, the Board appointed Mr. Abdulla bin Mohammed Al Zamil as Vice Chairman.