Malaysia’s Employees Provident Fund’s (EPF) Head of Private Market Rohaya Mohammad Yusof is one of the front runners to become the deputy chief executive officer overseeing investments, or de facto chief investment officer, according to people familiar with the matter.
Mohamad Nasir Ab Latif, who holds the post currently, is due to retire at the end of the year. The EPF does not have a formal CIO position.
One of the people familiar with the matter says the search for Mr. Mohamad Nasir's successor has been ongoing for several months.
"[Mr. Mohamad] Nasir is not likely going to renew his contract again... and one of the names that is being mentioned the most as his successor is Rohaya Mohammad Yusof," this person tells Asia Asset Management (AAM).
Ms. Rohaya joined the EPF in 2008 as head of corporate finance. She previously worked at Maybank Investment Bank for 18 years, and was the executive vice president for corporate investment banking when she left.
Another person familiar with the search for Mr. Mohamad Nasir’s successor doesn’t discount the possibility that someone from outside the EPF may be appointed, although he believes there is only a small chance of this happening.
"The likelihood of an external appointment is slim, but we cannot discount that, as it can attract Malaysian talents who are working abroad to return to Malaysia," this person says.
Spokespersons for EPF did not immediately respond to questions from AAM.
Mr. Mohamad Nasir had been due to retire last November but the pension fund extended his tenure to the end of 2019, to "ensure continuity in the EPF's investment division and enable a smooth succession plan".
Mr. Mohamad Nasir has been with the pension fund since 1982 and has held his current position since 2013.
The EPF, Malaysia’s largest pension fund, had 886.45 billion ringgit (US$211.54 billion) of total assets as at June 30, 2019.