KUALA LUMPUR (July 2): Datuk Charon Wardini Mokhzani, formerly the executive director (ED) in the Managing Director's Office at Khazanah Nasional Bhd, has been appointed group managing director (MD) of Malaysian Industrial Development Finance Bhd (MIDF) effective immediately.

This confirms a report by The Edge Malaysia weekly on April 16 that Charon is set to take helm at the development financial institution, which is wholly-owned by Permodalan Nasional Bhd (PNB).

Charon replaces Datuk Mohd Najib Abdullah, who is retiring after serving 12 years with the group.

In a statement today, MIDF said Charon will also serve as chief executive officer (CEO) and ED of MIDF Amanah Investment Bank Bhd, a subsidiary of MIDF.

A former investment banker and lawyer, Charon joined Khazanah in 2013 as ED in the Managing Director's Office and as MD of Khazanah Research Institute. He had previously served nine years with CIMB Group Holdings Bhd as the deputy CEO, and later as the CEO of CIMB Investment Bank Bhd. He was also the deputy chief executive of investment banking at CIMB Group and has served in corporate finance at Rashid Hussain Securities and as an advocate and solicitor at Shearn Delamore & Co.

According to MIDF, Charon also read philosophy, politics and economics at Balliol College, University of Oxford and law at the School of Oriental and African Studies, University of London. He is a chartered banker and a fellow of the Asian Institute of Chartered Bankers. He is a non-practicing barrister of the Middle Temple, as well as advocate and solicitor of the High Court of Malaya.

The appointment comes amid a recent wave of changes among heads of government agencies and government-linked companies. On Friday (June 29), PNB announced the appointment of former Bank Negara Malaysia governor Tan Sri Dr Zeti Akhtar Aziz as group chairman, replacing Tan Sri Abdul Wahid Omar who retired from his position.