The latest M&A deals in wealth management across Asia-Pacific.

Malaysia’s Maybank Asset Management Group has completed its RM51 million ($12.83 million) acquisitions of Kuala Lumpur-based unit trust company Amanah Mutual and Singapore Unit Trust, having been given the green light by regulators.

At the same time, MAMG, which is a wholly-owned subsidiary of Malaysia's largest lender, Maybank, also promoted Badrul Hisyam Abu Bakar as its new chief executive officer, taking the helm of the group’s regional asset management business. He previously was chief executive of Maybank Asset Management Sdn Berhad (MAMSB), joining that entity in 2010 chief investment officer. 

Ahmad Najib Nazlan will succeed Badrul as CEO of MAMSB. He was previously chief executive officer of Maybank Islamic Asset Management Sdn Bhd (MIAM). Prior to that, he was the Malaysia chief investment officer of a global investment management firm and had served in various capacities at Bank Negara Malaysia.

MAMG is present in Malaysia through Maybank Asset Management Sdn Bhd and Maybank Islamic Asset Management Sdn Bhd. Other entities are Maybank Asset Management Singapore Pte Ltd (MAMS) in Singapore; and PT Maybank Asset Management in Indonesia.