KUALA LUMPUR – Permodalan Nasional Bhd (PNB) CEO Ahmad Zulqarnain Onn is expected to head the Employees Provident Fund (EPF), after its chief Datuk Seri Amir Hamzah Azizan was appointed second finance minister in December.
The appointment is expected to be announced by the end of this month, Reuters quoted sources as saying.
EPF, the world’s 12th largest pension fund, had recorded massive withdrawals amounting to RM145 billion during the Covid-19 pandemic when Tan Sri Muhyiddin Yassin and Datuk Seri Ismail Sabri Yaakob were prime ministers.
Harvard graduate Zulqarnain was appointed PNB chief in July 2020 to manage RM343.1 billion worth of assets.
Prior to that, he was sovereign wealth fund Khazanah Nasional Bhd’s deputy managing director. – January 25, 2024