KUALA LUMPUR (Sept 26): RHB Bank Bhd (KL:RHBBANK) on Thursday announced the appointment of veteran fund manager Ng Chze How to lead its asset management business.

His appointment as the managing director and chief executive officer of RHB Asset Management Sdn Bhd (RHBAM) was effective since Sept 11, RHB Bank said in a statement. Ng is taking over from Mohd Farid Kamarudin, who joined UK-based abrdn as its Malaysian country head in June.

Ng's background in sales and product development as well as on various investment and executive committees will contribute to RHBAM's growth, RHB Bank said.

“We are confident that Ng will play a key role in strengthening RHBAM’s position as a leading asset management company in the market,” said Datuk Fad’l Mohamed, the managing director of group wholesale banking of RHB Bank.

RHBAM manages assets worth over RM55 billion comprising 108 unit trust funds as well as six private retirement funds and private mandates at the end of August. 

Ng was most recently the head of retail wealth distribution at Manulife Holdings Bhd (KL:MANULFE).

Prior to his time with Manulife, Ng held senior leadership roles at asset management companies such as Prudential Funds, AmFunds, AIA Pension & Asset Management, and AIA Bhd. He has more than two decades of experience in the asset management industry.