KUALA LUMPUR, June 29 — Sovereign wealth fund Khazanah Nasional has appointed Datuk Amirul Feisal Wan Zahir as its new managing director to replace the outgoing Datuk Shahril Ridzuan.

Khazanah said Amirul, who will leave Malayan Banking Bhd (Maybank) as its chief financial officer to assume the role, will take up the position from July 16.

"The board of directors would like to welcome Dato’ Amirul and is confident that with his expertise and experience, Khazanah will progress further in delivering on its mandate,” Khazanah said in a statement today.

"The board thanks Datuk Shahril for his service and contribution throughout his tenure as managing director, particularly for his leadership in successfully implementing a strategy that has made Khazanah more resilient and capable of navigating challenges posed by the pandemic.”

According to Khazanah, Shahril was leaving at the end of his contract to pursue "personal interests.”

Shahril left as the chief executive officer of the Employees Provident Fund to be Khazanah’s MD in August 2018, after Pakatan Harapan won the general election that year.

A chartered banker, Amirul has had various leadership roles throughout his career.

Aside from his time at Maybank, Amirul has also been the group managing director of Chemical Company of Malaysia Bhd (CCM), executive vice president for special projects at Permodalan Nasional Bhd (PNB), and executive director at Binafikir Sdn Bhd, among others.