Malaysia’s Armed Forces Fund Board (LTAT) has hired Ahmad Farouk Mohamed from Malaysian Industrial Development Finance (MIDF) as its new chief investment officer.
He succeeds Muhammad Fitri Othman, who is no longer with LTAT.
Ahmad Farouk was executive vice president and head of the group managing director’s office at MIDF. He was also the executive director of both the investments and strategic management units at sovereign wealth fund Khazanah Nasional.
LTAT says Ahmad Farouk is expected to contribute to LTAT’s ongoing efforts to strengthen its investment strategy, achieve sustainable growth and ensure best returns for stakeholders, the fund says in a statement on October 7.
“We are confident that his leadership will help LTAT navigate the complexities of the investment landscape, driving innovation, growth and excellence in our portfolio management,” Ashraf Radzi, LTAT’s chief executive officer, says in the statement.
LTAT manages assets worth close to 11.54 billion ringgit (US$2.85 billion) as at end-2023.
