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Malaysia’s Aminvest names new CEO

Goh Wee Peng has replaced Maznah Mahbob as the CEO of the Kuala Lumpur-based asset management firm.
Goh Wee Peng, Aminvest

Goh became CEO after the firm received approval for the appointment on 28 August, according to a statement from the firm.

Goh started her career with Aminvest in 2002 and was most recently the acting CEO and deputy CEO of the firm. She was previously chief investment officer for fixed income.

She is also a non-independent board of director and a member of the firm’s investment committee, according to the firm’s website.

The previous CEO was Maznah Mahbob, according to her Linkedin profile. Maznah first joined the firm in 1997 as head of institutional business. She became chief investment officer in 1998 and was promoted to CEO in 2001.

FSA sought more information from Aminvest about Maznah, but the firm was not able to reply in time for publication.

Maznah was also a licensed representative for the firm since 1997, according to records from the Securities Commission of Malaysia. Her license for the firm was removed at the end of May last year, the records show.

Aminvest manages aggregate assets of RM 37.3bn ($9.02bn) through 80 funds plus 25 shariah-compliant funds, according to the firm’s website.

Separately, the firm, which is the fund management business of Aminvest Bank, last month launched Malaysia’s first robotics fund.

Aminvest is Malaysia’s fifth largest manager in terms of net new flows ($134.6m) for this year to the end of June, according to data from a Cerulli Associates report (excluding fund of funds).

One of the firm’s Malaysia-focused fixed income funds, the AmIncome Advantage Fund, was the fourth top product in Malaysia in terms of net new flows ($13.7m) during the same period, according to the research firm’s report.

Malaysia-focused fixed income funds became the most popular products during the year, with net new inflows of $183.9m, followed by Malaysian equities ($64.9m) and Asia-Pacific ex-Japan equities ($34.8m), the report noted.

Part of the Mark Allen Group.