September 8, 2017 / 9:50 AM / 10 months ago

Turkey's Erdogan says sovereign wealth fund to be reorganised

ISTANBUL, Sept 8 (Reuters) - Turkish President Tayyip Erdogan said on Friday the country’s sovereign wealth fund would be reorganised once he returns from a trip abroad and that its chairman had been dismissed as it had not achieved its targets.

“The desired goals and progress were not achieved in the wealth fund,” Erdogan told reporters at Istanbul’s Ataturk Airport. We need to reorganise the wealth fund and we will take that step after the Kazakhstan visit.”

A senior official earlier told Reuters Mehmet Bostan was removed as chairman of the fund on Thursday, with the head of the Borsa Istanbul stock exchange, Himmet Karadag, named as acting chairman. (Reporting by Ezgi Erkoyun and Dirimcan Barut; Writing by Daren Butler; Editing by Dominic Evans)

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