This article first appeared in The Edge Financial Daily on December 12, 2017 - December 18, 2017

KUALA LUMPUR: Khazanah Nasional Bhd has named Ahmad Zulqarnain Onn and Tengku Datuk Seri Azmil Zahruddin Raja Abdul Aziz as deputy managing directors (MDs) of the sovereign wealth fund from Jan 1.

Tan Sri Andrew Sheng, who has been a board member of Khazanah since July 2008, will become chairman of Khazanah Research Institute from Nov 29, replacing Tan Sri Nor Mohamed Yakcop.

In a statement yesterday, Khazanah said Ahmad Zulqarnain, 45, currently serves as an executive director of investments, overseeing Khazanah’s investments in Indonesia, Asean and the financial institutions group sector. He is also head of the strategic management unit. He joined Khazanah in May 2014.

A graduate in economics from Harvard University in the US, Ahmad Zulqarnain was previously the chief executive officer (CEO) of Danajamin Nasional Bhd and has also held various roles with UBS Warburg, Pengurusan Danaharta Bhd, CIMB Group Holdings Bhd, Symphony Group and Bolton Bhd.

Tengku Azmil is currently executive director of investments with oversight of Khazanah’s investments in the innovation and technology sector, life sciences, and Africa, as well as oversight of Khazanah’s offices in San Francisco and Khazanah Koridor Utara in Penang. Tengku Azmil, 47, joined Khazanah in October 2011.

A graduate in economics from the University of Cambridge in the UK and a chartered accountant, Tengku Azmil was previously the CEO of Malaysian Airline System Bhd and Penerbangan Malaysia Bhd. He served in various roles with PricewaterhouseCoopers at their London and Hong Kong offices.

Khazanah also announced the appointment of Tan Sri Md Nor Yusof as chairman of the board executive committee effective Dec 5.

A board nomination and remuneration committee has also been formed, with Md Nor as its chairman with immediate effect.

Yeo Kar Peng has also been appointed to the board of Khazanah from Dec 5. Yeo is currently the chairman and managing partner of Kendall Court Capital Partners and one of its founders.

She is also a board member of Cenviro Sdn Bhd, a wholly-owned subsidiary of Khazanah. Prior to establishing Kendall Court, she was MD at Citigroup Global Markets. She has also held the post of head of research at UBS and WI Carr, respectively.

Khazanah said the new appointments supplement its ongoing institutionalisation efforts.