Malaysia’s second largest pension fund to restructure
Malaysia’s second largest pension fund is to undergo a revamp that will include the creation of a deputy chief executive officer (CEO) position and the appointment of a new chief investment officer (CIO), according to its top executive.
The move comes after CIO Nik Amlizan Mohamed recently left Kumpulan Wang Persaraan (KWAP), a pension fund for civil servants, to head Malaysia’s Armed Forces Fund board.
The restructuring may take “a couple of months” to complete, KWAP CEO Wan Kamaruzaman Wan Ahmad said in his keynote address at Asia Asset Management’s 8th Annual Malaysia Roundtable on September 13.
“It will not be a straightforward one-to-one replacement. There will be a bit of changes to the organisation structure that will have a CIO and a deputy CEO,” he said, adding that he will assume the CIO role for now.
Mr. Wan Kamaruzaman also touched on developments in the financial industry in his speech at the roundtable, which was themed Global pensions and investments: The impact of fintech and the emerging landscape.
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