MONEY MANAGEMENT

Threadneedle names CEO for Malaysian office

Mohd Farid bin Kamarudin was named CEO and senior fixed-income fund manager in Threadneedle Investments' new Kuala Lumpur office, according to a news release.

Threadneedle plans to build out Shariah-compliant investment capabilities for institutional investors in the region, according to the news release.

Syed Elias Alhabshi, who joined the firm's Singapore office in September 2011 as a senior adviser, has been appointed chairman of the Malaysia office.

Malaysia becomes Threadneedle's fourth office in Asia, following Singapore, Hong Kong and Taiwan.

Mr. Mohd Farid was executive director and head of sukuks and alternatives investments at AMIslamic Funds Management. Sukuks are a Shariah-compliant fixed-income product similar to a bond. Maznah Mahbob, CEO, funds management, with AmBank Group, couldn't immediately be reached for comment.

Raymundo Yu, Threadneedle's Asia-Pacific chairman, also couldn't be reached for comment.