State investment fund 1MDB has announced the appointment of Treasury deputy secretary-general Asri Hamidon as its new chairperson, effective yesterday.

"He (Asri) is also the deputy secretary-general overseeing government investments at the Treasury," the 1MDB board of directors said in a statement this morning.

Asri was appointed to replace former Treasury secretary-general Irwan Siregar Abdullah, who was transferred out of his positions under the Finance Ministry about one week after the 14th general election.

At the same time, the 1MDB board also announced the formation of a three-member new executive committee in charge of its day-to-day operations. 

The new exco members comprise former Malaysian Institute of Accountants president Mohammad Faiz Azmi, Finance Ministry investment division undersecretary Rashidah Mohd Sies and former Agrobank CEO Wan Mohd Fadzmi Wan Othman.