Gladstone Place Partners has axed the $200K Public Investment Fund of Saudi Arabia account in the aftermath of the alleged murder of Saudi dissident and Washington Post columnist Jamal Khashoggi, according to CEO Steve Lipin.
Turkish officials say Saudi agents tortured, murdered and dismembered Khashoggi in Saudi Arabia’s Istanbul consulate after he visited to obtain documents needed for his wedding.
Saudi Arabia denies any involvement in Khashoggi's disappearance.
O’Dwyer’s reported Sept. 14 that Public Investment Fund hired Gladstone to promote the construction of Neom, a $500B mega-city designed to help the Kingdom diversify its economic base and reduce its dependence on energy revenues.
Gladstone's work began Jan. 1 and was supposed to run through July 2019 for strategic communications, thought leadership and relationship-building with top-tier media, influential commentators and key business/financial executives.
Lipin, who did a 10-year stint as Wall Street Journal finance editor and a 15-year run as Brunswick Group senior partner, launched New York-based Gladstone in 2017.