KUALA LUMPUR (May 11): Retirement Fund Inc (KWAP) has appointed Datuk Jay Khairil Jeremy Abdullah, who formerly led Bank Simpanan Nasional (BSN), as its new chief executive officer, effective May 20.
Jay Khairil, 50, will lead the organisation’s strategic direction, operations and institutional priorities, the state-owned fund said in a statement on Monday. KWAP also thanked outgoing CEO Datuk Nik Amlizan Mohamed for her service in that position since 2020.
His appointment confirms an earlier report by The Edge on March 31, which named him as a leading candidate for the position. Sources had identified Jay Khairil as one of three possible candidates to take over the role after Nik Amlizan’s five-year contract ended.
“Datuk Jay Khairil brings almost 30 years of experience in the banking and financial services sector, with extensive expertise across financial management, governance, internal audit, risk management, and institutional transformation,” said KWAP in the statement.
KWAP said Jay Khairil will focus on advancing KWAP’s role as Malaysia’s public sector pension fund by ensuring disciplined investments, strong governance, and long-term stewardship.
Prior to joining the state-owned fund, he oversaw BSN’s transformation in financial performance, digital banking, operational resilience and financial inclusion. He also previously held the chief financial officer and chief internal auditor posts at BSN.
Jay Khairil has also held senior roles in CIMB Group Holdings Bhd (KL:CIMB), Bank of Tokyo-Mitsubishi UFJ (Malaysia), and Bank Negara Malaysia (BNM), in addition to earlier stints at Hong Leong Bank Bhd (KL:HLBANK) and AmMerchant Bank.
He holds a degree in business and finance from Heriot-Watt University and a higher diploma in management accounting. He is also professionally certified as a chartered banker, chartered global management accountant, and financial services auditor.