Affin appoints Doreen Choo to lead asset management division
The bank has set a three-year target of RM6 billion in assets under management as it seeks to increase fee-based income.
Doreen Choo Choy Wan will oversee Affin Bank Bhd’s asset management division as chief executive officer following her appointment on Oct 23. Affin said the appointment takes immediate effect and covers Affin PHEIM Islamic Asset Management Sdn Bhd and Affin PHEIM Unit Trusts Bhd.
The bank has tasked Choo with increasing assets under management and supporting sustainable earnings growth. Affin also said her duties include enhancing distribution, obtaining additional investment mandates and creating investment products.
Affin wants assets under management to reach RM6 billion over three years, against about RM833 million recorded at end-March 2026. The target forms part of its effort to generate more fee-based income.
Choo’s appointment follows her July arrival at Affin, where she became senior managing director for wealth and asset management. The bank had returned to asset management through its April purchase of Pheim Asset Management Sdn Bhd for RM50 million.
Her industry career spans nearly three decades. She held the chief investment officer post at Eastspring Investments Bhd until February 2025, following nearly 14 years with CIMB-Principal Asset Management Bhd, now called Principal Asset Management Bhd.
Affin’s previous withdrawal from asset management came after it sold a 63% stake in Affin Hwang Asset Management Bhd in 2022, receiving RM1.2 billion.
