Malaysia’s largest fund manager Permodalan Nasional (PNB) has promoted Rizal Rickman Ramli to president and group chief executive officer of the 360 billion ringgit (US$91 billion) company.
He succeeds Abdul Rahman Ahmad, who is retiring on June 30 but whose last working will be at the end of this month, PNB says in a statement on May 7.
Rizal is PNB’s deputy president and deputy group CEO. Although his promotion is effective July 1, the asset management firm says he has already taken on the top job in an acting capacity.
Rizal, a former partner and managing director of Boston Consulting Group’s Malaysia office, joined PNB in 2018 as chief investment officer of real estate. He was appointed CIO of private and strategic investments three years later, and promoted to deputy president and deputy group CEO in 2024.
