Permodalan Nasional Bhd has confirmed Jalil Rasheed will succeed Datuk Abdul Rahman Ahmad who will take on chairmanship at Sime Darby Bhd.

KUALA LUMPUR: Permodalan Nasional Bhd has announced the departure of its president and group chief executive Datuk Abdul Rahman Ahmad and appointment of fund manager Invesco’s Jalil Rasheed, in his place.

Abdul Rahman will leave his position upon the completion of his three-year contract on September 30.

He will subsequently assume the role of non-independent non-executive chairman at Sime Darby Bhd upon the retirement of Tan Sri Dr Wan Abdul Aziz Wan Abdullah on October 31.

Sime Darby is one of PNB’s key strategic companies in which PNB owns a 52 per cent stake.

Taking over from Abdul Rahman, is Jalil, who is currently chief executive officer at Invesco’s south Asian operations, from October 1.

This confirms the New Straits Times’ report today that Jalil was poised to take over as PNB’s chief exceutive on October 1.

In its statement today, PNB said previously based overseas, Jalil’s appointment was in line with the government’s wish to make optimal use of Malaysian global talents and consistent with the fund’s strategic initiative to diversify its assets globally.

Holder of a Bachelor of Science in Accounting and Finance (Hons.) from The London School of Economics & Political Science (LSE), United Kingdom, Jalil began his career in 2003 as a graduate trainee at Aberdeen Standard Investments.

He rose through the ranks to become investment manager and later, head of Equities before assuming the role of CEO at Aberdeen Islamic Asset Management in 2010.

Jalil left Aberdeen to join Invesco in 2013 and has been the CEO (South Asia) at Invesco since then.

Invesco is a leading global investment firm managing more than US$1.2 trillion across a multiple range of asset classes in over 25 countries.

PNB group chairman Tan Sri Dr Zeti Aziz expressed her gratitude to outgoing president and group chief executive.

“On behalf of the directors on the board of PNB, as well as the management and staff, I would like to thank Datuk Abdul Rahman for his invaluable contribution to PNB and its group of companies during his three-year tenure here. “We look forward to continue working together with him in his new role at Sime Darby,” Zeti said.

PNB said this afternoon, it had completed all the necessary requirements for the appointments at the levels of the Yayasan Pelaburan Bumiputra chaired by the Prime Minister.

“Following this, the PNB board of directors welcomes Jalil who brings with him vast experience in managing global investments and is confident that he will capably lead PNB in its journey towards becoming a distinctive, world class investment institution,’ it said.

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