KUALA LUMPUR: State-controlled fund manager Permodalan Nasional Bhd has appointed Ahmad Zulqarnain Onn from Khazanah Nasional as its new president and group chief executive from July 1.
He replaces Abdul Jalil Abdul Rasheed, who tendered his resignation in a surprise move on June 15.
Ahmad Zulqarnain was previously the deputy managing director of Khazanah Nasional, Malaysia’s sovereign wealth fund, and has over 23 years of experience in financial services and corporate sector, PNB said in a statement today.
“In keeping with the requisite requirements, PNB has received all the relevant regulatory approvals, including that of Yayasan Pelaburan Bumiputera, the PNB board and the regulatory authorities,” the company said.
PNB is Malaysia’s largest fund management and investment company, handling more than RM300 billion in funds, through unit trusts such as Amanah Saham Nasional.
Jalil said he was leaving after a bout of harassment which made him fear for the wellbeing of his young family. “I had to endure hate calls from unknown numbers, hacking of my other corporate email account and LinkedIn profile,” he said in an emotional message.
Jalil was described by a PPBM supreme council member A Kadir Jasin as being a victim of the new Perikatan Nasional government, being forced out because of alleged discrepancies in his academic qualifications.
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