Philippine sovereign wealth fund Maharlika has named a new chief investment and operating officer, while Indonesia Investment Authority’s co-CIO stepped down from his role in February.
PH’s Maharlika names new CIO
The Philippines’ sovereign wealth fund, Maharlika Investment Corp, has appointed Kheed Nielsen Ng as chief investment and operating officer, strengthening its leadership as it prepares to scale up investment activities.
Maharlika’s board confirmed Ng’s appointment during a regular meeting, according to an announcement. He previously served as vice president in the corporation’s investment management group.
Ng brings experience across investment banking, private equity, and public markets, with professional exposure in North America, Europe, and Asia. Over his career, he has evaluated investments across multiple sectors and overseen the deployment of about $2 billion in capital.
Before joining Maharlika, he held senior investment roles at Canada Pension Plan Investment Board and Morningside Capital, where he worked on deal sourcing and execution and supported portfolio companies.
In his new role, Ng will serve as Maharlika’s principal technical authority on investment strategy and portfolio management, overseeing asset allocation, risk integration, and performance monitoring. He will also advise the board and the President and CEO, Rafael Consing Jr.
The senior appointment comes as Maharlika is preparing to step up planned capital deployment in fiscal year 2026, targeting energy, logistics, agriculture, and mining sectors, according to an announcement.
Indonesia’s INA co-CIO Setiawan quits
Indonesia Investment Authority’s (INA) co-chief investment officer Andry Setiawan has resigned, Bloomberg News reported, citing people familiar with the matter.
Setiawan, one of two chief investment officers at INA, resigned earlier in February and is serving his notice period, the people told Bloomberg. His exit leaves only two of INA’s five board positions filled by permanent, rather than acting, appointments.
The resignation followed the end of INA chief executive Ridha Wirakusumah’s term on Feb. 15, with no successor named yet, according to the report.
The fund has also not filled its chief risk officer post since Thomas Oentoro left in October to join national carrier Garuda Indonesia, according to his LinkedIn profile.
Chief financial officer Eddy Porwanto has been appointed acting CEO and acting chief risk officer, while the other co-chief investment officer, Christopher Ganis, remains in his role.
