Malaysia’s state-owned Permodalan Nasional (PNB) has turned to former Chief Executive Officer Abdul Rahman Ahmad to once again lead the 300 billion ringgit (US$63 billion) fund management company, the country’s largest.
He succeeds Ahmad Zulqarnain Onn, who left in February to head the Employees Provident Fund.
Abdul Rahman was president and group CEO of PNB from 2016 until 2019, when he left to become CEO of CIMB Group, Malaysia’s second largest banking group.
He will return on July 1 to his old position at PNB where he was “instrumental in driving strategic transformation”, the fund management firm announced in a statement on April 17.
It says that the PNB board “welcomes Abdul Rahman’s return to provide continuity and drive the execution” of the company’s recently developed strategic plan.
