New leadership line-up to ensure greater operational efficiency at PNB


  • Corporate News
  • Friday, 17 Jan 2020

New head: Hafizuddin is the group head of the newly established Treasury division in PNB.

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) has unveiled its new leadership line-up in a move to ensure greater operational efficiency across the board and further enhance performance levels.

Alongside the president and group chief executive Jalil Rasheed, the new leadership team, comprising 16 senior management personnel, now heads a core business function each.

PNB said it has streamlined its organisation structure to better reflect the respective core functions and scope of its business units to emulate best practices of leading global asset managers.

Joining the team is Hafizuddin Sulaiman as the group head of the newly established Treasury division, responsible for managing the overall capital and liquidity management of the business, including fund raising and liability management.

The new function was formed in line with PNB’s overall portfolio diversification strategy, which includes increasing its global investment exposure.

Hafizuddin has extensive experience in the areas of fund raising and financial reporting from his tenure in Khazanah Nasional Bhd and Ernst & Young Kuala Lumpur.

“With a view towards strengthening PNB’s capability in delivering sustainable returns to our unit holders, these changes will enable us to reinforce a more collaborative working arrangement across all layers of our organisation, thus allowing for a more effective decision-making process without compromising governance aspects.

“The changes taking place will also allow us to grow our talent pipeline in order to implement our strategic plan with the vision of becoming a distinctive world-class investment house,” said PNB group chairman Tan Sri Dr Zeti Aziz said in a statement.

PNB also bade farewell to Datin Kartini Abdul Manaf, who retired on Jan 1 as the deputy president of strategic investments.

She served PNB for 36 years in various capacities and was involved in diverse aspects of investment management and corporate finance, mergers and acquisitions (M&As), corporate restructuring, portfolio management, property investment and business development.

Zeti said Kartini has been a longstanding key member of PNB’s senior management team, driving its major M&A exercises.

“She has also been instrumental in fostering a strong rapport with PNB’s investee companies. We wish her well and look forward to continue working with her in her role as PNB’s nominee director on the boards of some of our investee companies,” she said.

The strategic investments and private markets divisions, which were previously under Kartini’s purview, will now report directly to Jalil.
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Permodalan Nasional Bhd , PNB

   

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