Malaysia’s state-owned investment fund Permodalan Nasional Bhd (PNB) has announced the retirement of its deputy president and group COO for asset management and, at the same time, named its new chief investment officer. AmBank (M) Bhd has named one of its board of directors Voon Seng Chuan as its new chairman.
Malaysia-based PNB’s group names new CIO; COO retires
Malaysia’s state-owned strategic investment fund Permodalan Nasional Bhd (PNB) has announced the retirement of its deputy president and group COO for asset management Idris Kechot who has been with the fund for more than 34 years, effective December 31, 2018, it said in a statement on Wednesday.
“Idris has been a long standing and valuable member of PNB’s senior management team. On behalf of the board of directors, management and staff of PNB, I would like to express our sincere gratitude to Idris for his tremendous contribution to the PNB Group,” said PNB group chairman Zeti Aziz.
Meanwhile, PNB has named Hanizan Hood as its new chief investment officer, effective January 1, 2019. In her new role, Hanizan will lead the day-to-day oversight of all the operating units within the asset management division.
An economics graduate from Northwester University in the US, Hanizan has been with PNB, which has an AUM of over RM295 billion ($71 billion), for about 22 years and has served in various capacities in the areas of equity research, money market, fixed income and portfolio management.
AmBank appoints new chairman
AMMB Holdings Bhd has appointed Voon Seng Chuan (pic) as the new chairman of AmBank (M) Bhd with effect from January 1, 2019, it said in a stock filing on Monday.
“Voon, a Malaysian, aged 60, has been a member of the board of directors of AmBank since June 18, 2015. He is also a member of the board of directors of AMMB,” AMMB said.
Voon replaces Tan Sri Azman Hashim, 79, who will be retiring from six entities in the AmBank group in stages over a two-year period announced last year.