PNB announces changes in leadership team
Permodalan Nasional Bhd (PNB) has announced a new leadership team as well as the retirement of its deputy president of strategic investments and the appointment of a new group head of treasury.
After 36 years of service, Datin Paduka Kartini Abdul Manaf retired from her position as deputy president of strategic investments on Jan 1.
She had served in various capacities and was involved in diverse aspects of investment management and corporate finance, mergers and acquisitions, corpo- rate restructuring, portfolio management, property investment and business development.
Prior to assuming her last post, Kartini was the chief strategy officer, heading the office of the president and group chief executive.
With her retirement, the strategic investments and private markets divisions will report directly to president and group chief executive Jalil
Rasheed.
PNB group chairman Tan Sri Dr Zeti Akhtar Aziz said: “Kartini has been a longstanding key member of PNB’s senior management team, driving PNB’s major merger and acquisition exercises.
“She has also been instrumental in fostering a strong rapport with PNB’s investee companies.”
In a move to ensure greater operational efficiency and performance, PNB has also streamlined its organisational structure to better reflect the core functions and scope of its business units to emulate the best practices of leading global asset managers.
Alongside Jalil, the new leadership team comprising 16 senior management personnel will each head a core business function within PNB.
Joining the leadership team is Hafizuddin Sulaiman, the group head of the newly-established treasury division.
He will be responsible for managing the overall capital and liquidity management of the business, including fundraising and liability management.
This is in line with PNB’s overall portfolio diversification strategy, which includes increasing its global investment exposure.
Hafizuddin brings with him extensive experience from his tenure in Khazanah Nasional Bhd and Ernst & Young.