DUBAI, United Arab Emirates - The Mideast's biggest sovereign wealth fund has hired General Motors' top economist to help it decide how it invests the hundreds of billions of dollars it manages.
The Abu Dhabi Investment Authority named Ted Chu as its chief economist Monday. He will be based in Abu Dhabi, the oil-rich capital of the United Arab Emirates.
ADIA says Chu, 46, will be charged with producing international and regional economic analyses. He will also be part of the fund's strategy unit, where he will help develop and monitor ADIA's investment plans.
ADIA is a major investor in Citigroup and is widely considered to be the world's largest sovereign wealth fund, though it does not disclose the size of its assets.