Ahmad Zulqarnain Onn was named president and group chief executive of Kuala Lumpur-based money manager Permodalan Nasional Berhad, effective July 1.
Mr. Ahmad Zulqarnain replaces Jalil Rasheed, who resigned just over two weeks ago.
Mr. Ahmad Zulqarnain joined PNB from Kuala Lumpur-based sovereign wealth fund Khazanah Nasional Berhad, where he was deputy managing director "in charge of the Strategic Fund and managing Khazanah's strategic holdings in government-linked companies," an announcement said, Monday.
A Khazanah spokesman did not respond to requests for comment. Khazanah has $37.1 billion in assets according to the Sovereign Wealth Fund Institute.
PNB is one of Malaysia's largest fund management companies with assets under management of more than 300 billion ringgit ($70 billion).