KUALA LUMPUR, June 29 — State-controlled unit trust fund, Permodalan Nasional Bhd (PNB) has appointed Ahmad Zulqarnain Onn as its new president and group chief executive (PGCE), effective July 1, 2020.

He will be replacing Abdul Jalil Abdul Rasheed, who had tendered his resignation in a surprise move on June 15.

Ahmad Zulqarnain was previously the deputy managing director of Khazanah Nasional Bhd (Khazanah) and has over 23 years of experience in financial services and corporate sector, PNB said in a statement today.

"In keeping with the requisite requirements, PNB has received all the relevant regulatory approvals for the appointment of the new PGCE, including from Yayasan Pelaburan Bumiputra, the PNB board and the regulatory authorities,” it added. — Bernama