Maybank appoints new chairmen for Maybank IB, Etiqa

Datuk Mohaiyani Shamsudin

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has appointed Datuk Mohaiyani Shamsudin as chairman of Maybank Investment Bank and Datuk R Karunakaran as Chairman of Etiqa Insurance Bhd (EIB) and Etiqa Takaful Bhd (ETB).

Maybank said the changes in chairmanship of its key subsidiaries followed the retirement of some directors.  

Mohaiyani is currently a director of Maybank and was recently appointed chairman of Maybank Kim Eng Holdings Ltd from Jan 1. She is also the chairman of Maybank Asset Management Group Bhd and Maybank Asset Management Sdn Bhd.

Apart from the Maybank group, Mohaiyani also serves as director of the Capital Market Development Fund as well as a member and trustee of the National Heart Institute Foundation, NUR Foundation, Perdana Leadership Foundation and National Council of Women’s Organisations Malaysia.

Mohaiyani has had extensive experience in the area of financial services, having served amongst others, as chairman of the Association of Stockbroking Companies Malaysia, deputy chairman of the Kuala Lumpur Stock Exchange (now Bursa Malaysia) as well as owner and managing director of Mohaiyani Securities Sdn Bhd.

Karunakaran is also a director of Maybank and currently sits on the boards of Maybank (Cambodia) Plc, Maybank Ageas Holdings Bhd, Maybank Asset Management Group Bhd, Maybank Asset Management Sdn Bhd and Maybank Agro Fund Sdn Bhd.

In addition, he is a director of Bursa Malaysia Bhd, IOI Corporation Bhd and Integrated Logistics Bhd.

Karunakaran previously served in the Malaysian Investment Development Authority where his last position was as director general. He was also a past member of the board of Etiqa Insurance Bhd, the cabinet committee on investment for high impact projects and PEMUDAH.

Maybank chairman Tan Sri Megat Zaharuddin Megat Mohd Nor has relinquished his chairmanship of Maybank Investment Bank to assume the post of chairman of Maybank Ageas Holdings Bhd (MAHB), effective March 1. MAHB is the holding company for Maybank group’s insurance business under the Etiqa brand, which includes EIB and ETB.

Megat said the appointments are part of the group’s continuous efforts to maximise leverage of its boardroom diversity by tapping on the skills of talented individuals.

“Their diverse backgrounds and further deep understanding of our businesses, having been with us for a few years, will be invaluable as we continue as a board to guide and support management to create value for stakeholders,” he said.

“At the same time, the appointments are a clear demonstration of our commitment to Maybank group’s inclusiveness and diversity agenda, which also sees the selection of the first female chairman of a major Maybank Group subsidiary,” he added.