AmBank's MD Ashok to step down

AMMB Holdings group managing director Ashok Ramamurthy (Left) and chief financial officer Mandy Simpson (Right) - LOW LAY PHON/THE STAR (filepic)

PETALING JAYA: AMMB Holdings Bhd (AmBank Group), which has been reported to be going through a change at the helm of its management, said that group managing director (MD) Ashok Ramamurthy (pic) would be stepping down as part of a planned transition at the banking group.

AmBank Group, in a filing with Bursa Malaysia yesterday, said that it had also started the process of identifying a replacement for the top position. The bank said that Ashok, an Australian national, would be stepping down in due course to rejoin his family in Melbourne.