KUALA LUMPUR (Oct 23): Affin Bank Bhd (KL:AFFIN) on Friday named industry veteran Doreen Choo Choy Wan as the head of its asset management arm, effective immediately.
As chief executive officer, she will lead the division that comprises Affin PHEIM Islamic Asset Management Sdn Bhd and Affin PHEIM Unit Trusts Bhd, the bank said in a statement. Choo will focus on expanding assets under management as well as driving sustainable earnings growth, Affin noted.
“Her leadership, industry expertise and strategic vision will be instrumental as we accelerate the group’s growth ambitions and strengthen our position across the asset and wealth management value chain,” said Datuk Wan Razly Abdullah, president of Affin Bank.
Affin is targeting to raise its asset under management to RM6 billion within three years from about RM833 million as at end-March 2026, as the bank looks to boost fee-based income.
Choo was brought into Affin in July as senior managing director overseeing Affin’s wealth and asset management business following the bank’s acquisition of Pheim Asset Management Sdn Bhd. The deal, done for RM50 million in April, marked Affin’s re-entry into the asset management business.
She brings nearly three decades of industry experience, and was last the chief investment officer of Eastspring Investments Bhd until February 2025. Before that, Choo spent nearly 14 years at CIMB-Principal Asset Management Bhd, now known as Principal Asset Management Bhd.
In the new role, her responsibilities will also include improving distribution capabilities, securing new investment mandates and developing investment products, Affin said.
"Beyond growing assets under management, our ambition is to build a differentiated and high-performing asset management franchise anchored in investment excellence, a compelling client proposition and resilient profitability," Wan Razly added.
Affin previously exited the asset management business after selling its 63% stake in Affin Hwang Asset Management Bhd for RM1.2 billion in 2022.