The appointment of former U.S. Gen. David Petraeus as chairman of its Middle East franchise and the plan to set up a local investment team makes KKR & Co. the latest major private equity firm to bolster its presence in the oil-rich region.

Despite many making efforts to diversify assets, the superrich aren’t immune to the market turmoil: The world’s 500 wealthiest people just suffered the biggest three-day loss ever on the Bloomberg Billionaires Index.

One of Europe’s largest pure-play private banks controlled by members of Qatar’s ruling Al Thani family is accelerating a hiring drive in Europe after rebounding from years of losses.

An influx of high-net-worth individuals in recent years has made the region an attractive destination for firms like Cambridge.

President Donald Trump wants to create a U.S. sovereign wealth fund, but launching it would require intense planning, likely congressional approval and tackling complicated questions around governance, funding and asset allocation, experts said.

The Cleveland-based financial adviser says it plans more growth in the Chicago market.