Khazanah Nasional Gets Former MayBank CFO as Managing Director

Posted on 06/29/2021

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Malaysia’s Khazanah Nasional Berhad, the country’s sovereign wealth fund, hired a new managing director. Khazanah hired the former chief financial officer of Malayan Banking (Maybank) Amirul Feisal Wan Zahir as managing director effective July 16, 2021. The hiring of bank CFO signals a more conservative approach to managing the state investor, as well as the probability of using more financing options.

Current Khazanah Managing Director Shahril Ridza Ridzuan will be “departing to pursue his personal interests upon the expiry of his contract,” Khazanah said in a statement. Shahril Ridza Ridzuan was appointed in 2018 during the ushering of a new government headed by Mahathir Mohamad.

In 2020, Khazanah’s profit dropped 60.6% as divestment gains plummeted during the COVID-19 pandemic.