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Dubai wealth fund drafts in business leaders for advice

Dubai International Capital, the Middle Eastern state-owned investment group, has recruited former top executives from German carmaker BMW, UK drugs group GlaxoSmithKline and Japanese electronics giant Sony to a new advisory board for its $2bn (€1.4bn) flagship strategic equities fund.

The move comes as the financial firepower of sovereign wealth funds, particularly in the Middle East and Far East, is drawing increasing scrutiny from European and US regulators.

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