Syed Hamadah Syed Othman was appointed group managing director and CEO at Lembaga Tabung Haji, Kuala Lumpur, the hajj fund of Malaysia.
The role was made effective on May 6, according to a statement. Tabung Haji manages assets on behalf of Muslims for their pilgrimage to Mecca, Saudi Arabia. The strategic asset allocation is 58% fixed income, 26% equities, 11% real estate, and 5% in Islamic money markets and working capital.
Tabung Haji had 79.6 billion ringgit ($19.1 billion) in assets under management as of Dec. 31, 2021, according to its latest annual report. The annual report for 2022 is not yet available.
He replaced Amrin Awaluddin, who stepped down after completing his two-year term as group managing director, CEO and board member on May 5, the statement said.
A Tabung Haji spokesman could not be contacted for comment.
Mr. Syed Hamadah was a senior partner at Actuarial Partners Consulting in Kuala Lumpur. Prior to that, he was CEO of Malaysia's public services pension fund Kumpulan Wang Persaraan, known as KWAP, from 2018 to 2020. Kuala Lumpur-headquartered KWAP has a total fund size of 140.8 billion ringgit.