PETALING JAYA: Malayan Banking Bhd (Maybank) announced today that Datuk Khairussaleh Ramli will be appointed group president and CEO and will succeed Datuk Seri Abdul Farid Alias effective May 1, 2022 following approval by Bank Negara Malaysia (BNM).

“Khairussaleh rejoins the Maybank family and brings with him a wealth of knowledge and experience from the financial services and capital markets industry of close to 30 years,” Maybank chairman Tan Sri Zamzamzairani Mohd Isa said in a statement.

The chairman is confident the incoming group president and CEO will be able to lead Maybank in its next growth phase, pillared on the M25 focus areas of digitalisation, sustainability and new value drivers.

The latest development followed RHB Banking Group’s announcement on Wednesday that Khairussaleh, 54, will be stepping down as group managing director/CEO effective March 25, 2022.

The new appointment will not be Khairussaleh’s first stint at Maybank. Between November 2008 and September 2013, he served as group financial officer at Maybank for three years before taking on the role of president director and CEO in the bank’s Indonesian operations.

In another development in the local financial corporate scene, AMMB Holdings Bhd announced that its chairman Tan Sri Azman Hashim wishes to retire from his post and as a member of the board at the end of the group’s financial year on March 31, 2022.

“The succession plan for the transition of chairmanship is in place. An announcement on the appointment of the new chairman of the company will be made in due course,” AMMB said in a stock exchange filing.

Azman has been an integral part of the AmBank group’s growth since 1982, from its origins as Arab-Malaysian Development Bank with an initial staff of 200 to a financial conglomerate of more than 9,000 staff, today. He has helmed the group through multiple financial crises, domestic and global, throughout his tenure, from the Malaysian financial crisis in the 1980s, 1997’s Asian financial crisis and the global financial crisis in 2008/2009.

Looking back at his career, Azman said the past four decades has been a rewarding experience.

“To me, this is not just the AmBank group, it is family. Our group has grown over the years and our success cannot be attributed to one person alone. I am pleased to be able to pass a formidable group to my future successor,” the outgoing chairman said in a statement.

In recognition of his contributions, AMMB will bestow the title of chairman emeritus/honorary adviser on Azman upon his retirement.

Outside of AMMB, Azman continues to hold the chairmanship of numerous entities including the Asian Institute of Chartered Bankers, Asian Banking School Sdn Bhd, Financial Industry Collective Outreach, Malaysia South-South Corp Bhd, Malaysia-Japan Economic Association, Perdana Leadership Foundation, Malaysia South-South Association, and Universiti Teknologi Malaysia – Azman Hashim International Business School Advisory Council, and is chairman emeritus of Pacific Basin Economic Council.

$!Azman will be named AMMB chairman emeritus/honorary adviser upon his retirement