Recent American press reports have revealed remarkable developments in the course of international economic relations, as the New York Post reported that Kathryn Wilde, a prominent figure in the world of finance and business, described as a “billionaire hunter” and the third most influential figure in New York City, has entered into serious negotiations with representatives of the Saudi Public Investment Fund.
According to the newspaper, the talks held during the Christmas holidays centered on the possibility of Wilde joining the Saudi sovereign wealth fund as an advisor, in order to benefit from her extensive experience and octopus-like network of relationships on Wall Street.
A remarkable career and influence spanning three decades
Catherine Wilde, 79, is an icon in the world of dealmaking and strategic partnerships, having served as CEO of the non-profit organization Partnership for New York City. For the past 30 years, she has been the driving force behind many of the city's major deals.
Wilde recently announced her decision to resign from her current position and retire by 2026, when she reaches the age of eighty, which opens the door to a new career phase that may take her next step towards Riyadh.
Why Catherine Wilde? A network of relationships worth its weight in gold
The real value that Wilde could bring to the Public Investment Fund lies in her close network of relationships with the financial giants of the New York Stock Exchange. She maintains close friendships with top financial leaders, most notably Jamie Dimon, CEO of JPMorgan Chase. These relationships make her an ideal conduit for connecting Saudi investments with the financial decision-making circles in the United States.
Sources indicated that Wilde, whose salary in 2018 was estimated at $1.6 million per month, seeks to employ these close relationships with New York billionaires, in addition to her political influence, to serve the goals of the Saudi sovereign wealth fund.
The Public Investment Fund: A global player with an ambitious vision
This move comes in the context of the massive global expansion of the Public Investment Fund, which is the main driver of the Kingdom's Vision 2030. The fund, whose assets around the world are estimated at about $1 trillion (with plans to double them), seeks to attract the best global minds and expertise to enhance its diversified investment portfolio.
The inclusion of a figure of Wilde's stature on the fund's advisory team reflects a shrewd strategy to deepen ties with US markets, not only through capital injections but also by building alliances with influential figures who hold sway in the Western financial and business world. This approach underscores the maturity of Saudi Arabia's investment strategy, which now prioritizes human capital and strategic relationships as much as physical assets.
Expected impact on the economic landscape
This potential collaboration is expected to facilitate Saudi investments in new, high-quality sectors within the United States, leveraging Wilde's deep understanding of the complex dynamics between the public and private sectors in New York. This alliance also strengthens the fund's position as a trusted international player and a preferred partner for major global financial institutions.
