(Bloomberg) -- Qatar’s ruler appointed Sheikh Bandar bin Mohammed bin Saud Al-Thani as chairman of the Gulf state’s $450 billion sovereign wealth fund after his predecessor was named prime minister.

The change atop the Qatar Investment Authority is unlikely to result in tweaks to the fund’s strategy or its investment appetite. Chief Executive Officer Mansoor bin Ebrahim Al Mahmoud is key to the QIA’s investment policy and remains in his role.

Read More: Qatar’s $450 Billion Wealth Fund Shifts From Trophies to Tech

The fund continues to be on the hunt for more overseas deals after Qatar hosted the World Cup and recently became a crucial backer of the German utility RWE AG with a 2.4 billion euro investment.

Its new chairman, Sheikh Bandar, is also Qatar’s central bank governor.

--With assistance from Dinesh Nair.

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