Is the question finally settled?
KUALA LUMPUR (June 15): The Edge Malaysia Weekly’s report at the weekend on the possible departure of 38-year-old Jalil Rasheed as the CEO of Permodalan Nasional Bhd (PNB) had triggered a lot of chatter on social media. There has been much speculation on the reasons, and debate whether those reasons are justifiable.
Datuk Abdul Kadir Jasin, who was media advisor to former Prime Minister Tun Dr Mahathir Mohamad, took to his blog to write that “the reason they cooked up is his academic qualification, which some authorities said was a matter of interpretation.”
Kadir alleges political motives behind what is happening.
Jalil had in various disclosures stated that he graduated with a Bachelor’s of Science (Honours) in Accounting and Finance from the London School of Economics and Political Science (LSE), UK. He had also stated that from 2013 till 2019, he was the CEO of South East Asia for Invesco Ltd and a member of Invesco’s Global Investment Committee and Global Management Committee. And before that, he spent 10 years in Aberdeen Asset Management, and as CEO of its Islamic Asset Management unit.
The question is, are his claims true? Because his education, experiences, knowledge and track record must have been a major basis for his appointment in the first place. Such due diligence and governance are even more important for an institution like PNB.
Jalil, apparently, did not attend LSE in the UK. Instead. He did an external student degree program with the University of London, in association with LSE, at a college in Kuala Lumpur.
There is, of course, nothing wrong that he got his degree through an external program. Indeed, many Malaysians take that route because not everyone can afford to study overseas, and they, like Jalil, should be credited for their grit to pursue a university degree.
The issue, however, is whether there was a misrepresentation that he graduated from the LSE? Perhaps it is just a matter of interpretation, as LSE is one of 17 colleges under the umbrella of the University of London. But those who studied and graduated from LSE would argue there is a fundamental difference.
Another issue is whether Jalil played those global roles in Invesco Ltd and Aberdeen Asset Management, as stated in his resume? Were his past work experiences “stretched”?
A key question is this: Would Jalil be qualified to be appointed the CEO of PNB based on the facts now known?
Were there other factors and forces at work that led to the surprise departure of then PNB CEO Datuk Abdul Rahman Ahmad and the appointment of the young and relatively unknown Jalil?
Recall that after GE14, a number of top executives at GLCs were unceremoniously removed for undisclosed reasons. PNB chairman Tan Sri Abdul Wahid Omar, Khazanah Nasional managing director Tan Sri Azman Mokhtar, CIMB Holdings chairman Datuk Seri Nazir Razak were among them.
Was all this also the work of the same hidden hands behind Jalil’s appointment as PNB CEO that has now led to this messy state of affairs?
By NST Business – June 19, 2020 @ 12:07pm
KUALA LUMPUR: The Securities Commission says it has been notified about “discrepancies” in Permodalan Nasional Bhd’s submission in relation to its former president and group chief executive Jalil Rasheed’s academic qualifications and work experience.
It had since received confirmation of the “discrepancies” in the submission and had sought clarification from relevant parties including PNB over the matter, the SC added.
“PNB’s response to the SC’s enquiries is still pending,” the commission said in a statement today.
The SC was responding to various reports on Jalil that had alluded to its approval process for the appointment of chief executives of licensed entities.
Last week, some news outlets reported that Jalil had tendered his resignation amid speculation that he would be replaced.
PNB confirmed his resignation on June 15.
Questions were raised, prior to Jalil’s resignation, about his academic and career credentials which he purportedly gave a false account of.
Prior to PNB’s official confirmation, it was reported that Jalil’s farewell email to staff had gone viral over social media.
He reportedly said he had been pushed to end his tenure at PNB after receiving hate calls and that his corporate email account and LinkedIn profile had also been hacked.