KUALA LUMPUR (Jan 26): Permodalan Nasional Bhd’s (PNB) president and group CEO Ahmad Zulqarnain Onn is leaving the government-linked investment company to take over as CEO of the Employees Provident Fund (EPF).

His appointment to the EPF is effective Feb 19, succeeding Datuk Seri Amir Hamzah Azizan, who was appointed Minister of Finance II during a Cabinet reshuffle late last year.

“Ahmad Zulqarnain brings with him [a] strong corporate background, having served as the CEO of Danajamin Nasional Bhd, the deputy managing director of Khazanah Nasional Bhd, and the president and group CEO of PNB before joining the EPF,” the EPF said in a statement on Friday. 

In a separate statement, PNB announced Ahmad Zulqarnain’s resignation from the country’s largest asset manager effective Feb 16. 

“Throughout Zulqarnain’s tenure as president and group CEO, he played a crucial role in advancing the PNB’s mandate, achieving significant business milestones and in cultivating innovation,” PNB said.

“He has been passionate in solidifying the trust of the nation in PNB and renewing the organisation’s overarching purpose: To uplift the financial lives of Malaysians across generations,” it added.

PNB said an announcement on its new president and group CEO will be made in due course. 

Ahmad Zulqarnain was appointed to PNB in July 2020. Prior to that, the Harvard graduate had served in Malaysia’s sovereign fund Khazanah Nasional Bhd as deputy managing director, and was managing director and CEO of Danajamin Nasional Bhd between 2009 and 2014, where he established Malaysia’s first financial guarantee insurer.