Kumpulan Wang Persaraan (Diperbadankan), better known as Kwap, the retirement fund that manages Malaysia’s civil servants’ pension schemes, has appointed Hazman Hilmi Sallahuddin as its new chief investment officer.

Hazman Hilmi Sallahuddin

His role was made effective on January 3, and he will be based in Kuala Lumpur.

Hazman was most recently managing director of Damansara Assets, the real estate arm of the government-linked Johor Corporation. He was with the firm for just over a year.

Before that, he was the chief executive of Amal, a unit under Malaysia Airlines that targets the pilgrimage market. He was also employed with sovereign wealth fund Khazanah for 12 years and was based in various locations including Istanbul and London.

Hazman has experience across private equity and venture capital investments, according to the official announcement on Monday (January 3).

Neither Kwap nor Hazman responded to requests for comment by the time of publishing.

Kwap is Malaysia's biggest public services pension fund and manages RM140.8 billion ($33 billion).

The appointment follows the departure of Azmeen Adnan who left the firm in 2020 after his two-year contract as chief investment officer ended. Chief executive Syed Hamadah Othman had also left around the same time and he was replaced by Nik Amlizan in November 2020.

Azmeen in July 2021 joined AmanahRaya, a trustee company owned by the government, as group managing director.