1Malaysia Development Bhd today clarified that the appointment of Mohammad Faiz Azmi as chairman of its newly formed executive committee is part of the scope and services provided by PricewaterhouseCoopers Advisory Services.

He represents PwC.

In a statement,1MDB said PwC is assisting the board and the exco in recovering assets and in managing the company’s debt.

On June 25, 1MDB said it had formed the exco to manage the company, with Mohammad Faiz Azmi, Rashidah Mohd Sies and Wan Mohd Fadzmi Wan Othman as its members.

- Bernama