Wan Kamaruzaman confirms resignation as KWAP CEO


Retirement Fund Inc (KWAP) CEO Datuk Wan Kamaruzaman Wan Ahmad (picture) has confirmed that he will be stepping down from the top post at the civil service pension fund.

He is expected to exit KWAP officially in January next year, after helming the organisation since May 2, 2013.

“I’ve tendered my resignation with a three-month notice period. The notice ends on Jan 31, but I can be on garden leave anytime,” he told The Malaysian Reserve (TMR) after a press briefing at KWAP yesterday.

Wan Kamaruzaman, however, did not divulge details over his departure, especially on his successor.

According to a source familiar with the matter, KWAP is expected to make an announcement today.

The comment from Wan Kamaruzaman confirms the speculation rife of his exit from KWAP following several leadership departures and appointments at other state-owned funds and agencies, as reported by TMR recently.

KWAP is one of several government-linked investment companies (GLICs) under the Ministry of Finance and it reports directly to the government. The pension fund manages RM140.8 billion of assets at the end of 2017.

The new Pakatan Harapan government seeks to reform GLICs and government- linked companies, especially over exorbitant salary claims.

Changes at corporate Malaysia — especially at GLICs and state-owned companies — have come thick and fast since Pakatan Harapan’s stunning victory on May 9.

One of the names speculated as the possible candidate to lead KWAP is Syed Hamadah Othman from Actuarial Partners Consulting. He is a fellow of the Institute and Faculty of Actuaries, UK, and a fellow of the Actuarial Society of Malaysia.

Earlier last month, KWAP CIO Nik Amlizan Mohamed was appointed CEO and board member of Lembaga Tabung Angkatan Tentera.

At Khazanah Nasional Bhd, Datuk Shahril Ridza Ridzuan was appointed MD after the departure of Tan Sri Azman Mokhtar. Tunku Alizakri Raja Muhammad Alias took over the leadership at the Employees Provident Fund.

Former Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz was appointed chairman of Permodalan Nasional Bhd, replacing Tan Sri Abdul Wahid Omar.