Permodalan Nasional Berhad (PNB), the majority shareholder in MNRB Holdings Berhad, has appointed Dato’ Rizal Rickman Ramli as the President and Group Chief Executive effective 1 July 2026, succeeding Dato’ Abdul Rahman Ahmad.
He joined PNB in 2018 and has held leadership positions across the group’s real estate, private markets, strategic investments and investment stewardship divisions. Most recently, he oversaw group-wide strategic and operational activities as Deputy President and Group Chief Executive, The Star reported.
Prior to joining PNB, Rizal Rickman was Country Managing Partner for Malaysia at Boston Consulting Group. PNB said his appointment reflects the successful execution of the organisation’s internal succession planning process and will provide continuity as it advances its LEAP-6 strategic plan.
As one of Malaysia’s largest institutional investors, PNB has assets under management exceeding RM360bn (US$52.9bn) across Malaysian equities, global markets, private investments and real estate.
PNB, with a 53.09% stake, remains the largest shareholder of MNRB Holdings Berhad, which in May reported record earnings for the financial year ended 31 March 2026, with profit after tax rising 38.3% year-on-year to RM545.4m from RM394.2m. The group’s reinsurance arm, Malaysian Reinsurance Berhad, posted profit after tax of RM408.3m, up 25.5% from RM325.2m.
