PETALING JAYA: Malayan Banking Bhd (Maybank) has appointed Datuk Mohaiyani Shamsudin as chairman of the board, making her the first woman to clinch the position in the country’s largest bank.
Mohaiyani, 68, takes the helm from Tan Sri Megat Zaharuddin Megat Mohd Nor, who will be stepping down on March 31, 2017.
Megat Zaharuddin has been chairman of the banking group for the last seven-and-a-half years and member of the board for 12 years.
Previously Maybank’s independent non-executive director from July 2004 to February 2009, Megat Zaharuddin took the director and chairman’s position on Oct 1, 2009.
He came from a long career in the oil and gas industry; 31 years with Royal Dutch Shell Group of Companies and was Shell Exploration and Production BV’s regional business chief executive officer and managing director before retiring in early 2004.
He was also Maxis Communications Bhd chairman from January 2004 to November 2007, apart from serving in other various financial services industries such as the Australian Securities Exchange and Capital Market Development Fund.
“I would like to congratulate Datuk Mohaiyani Shamsuddin on her appointment as the new chairman of Maybank effective 1 April, 2017,” said Permodalan Nasional Bhd (PNB) chairman Tan Sri Abdul Wahid Omar. PNB is the largest shareholder in Maybank.
“Given her wealth of experience in the financial services sector and being a member of the Maybank ‘family’, I believe Mohaiyani will be able to lead the board and guide the management team led by Datuk Abdul Farid Alias towards Maybank Group realising its vision as a regional financial services leader.”
Wahid also expressed PNB’s appreciation to Megat for his dedication and service as chairman and board member of Maybank.
“I personally had the privilege of serving as Maybank Group CEO under Megat Zaharuddin’s chairmanship where he successfully guided me, Farid and the Maybank management team in weathering the global financial crisis and in transforming Maybank to be one of the leading regional financial services groups,” said Wahid.
“One of Megat Zaharuddin’s many legacies at Maybank is in supporting the management’s ‘Islamic First’ strategy that has resulted in Maybank’s Islamic financing to contribute 56% of Maybank’s total financing in Malaysia.
“This enabled Maybank Islamic to emerge not only as the largest Islamic bank in Malaysia but also as one of the leading Islamic financial institutions globally.”
Maybank group president and CEO Farid said the board was grateful for Megat Zaharuddin’s strong leadership, especially over the last seven-and-a-half years.
“He is a visionary leader who constantly challenged us to scale greater heights and successfully steered the group through some of the most challenging global economic conditions.
“On behalf of the 44,000 Maybankers in 20 countries worldwide, I would like to express our highest appreciation for his leadership, wise counsel and guidance over the years,” Abdul Farid said in a statement, adding that it had been a privilege working with him.
In the meantime, Abdul Farid said Mohaiyani’s appointment as chairman augured well for Maybank and ensured continuity at the board, given her role as director for over five years.
“Mohaiyani has had an impressive career and extensive experience not only in the financial services industry, but also in public service.
“As a member of the current board, she will already have insights into all aspects of the group and we are confident she will lead Maybank effectively as she takes up the new position,” added Abdul Farid.
She was appointed director of Maybank on Aug 22, 2011 and served as board committee member of the Credit Review Committee and Risk Management Committee.
Mohaiyani was with Amanah Chase Merchant Bank Bhd and Seagrott & Campbell Sdn Bhd before starting her own stockbroking firm Mohaiyani Securities Sdn Bhd in 1985, where she assumed the role of managing director.
Her active involvement in the stockbroking industry include being deputy chairman of the Kuala Lumpur Stock Exchange (now known as Bursa Malaysia Bhd) and Association of Stockbroking Companies Malaysia chairman.
Other than her present directorships within the Maybank Group, Mohaiyani is also a director of the Capital Market Development Fund and Universiti Teknology Mara.
There are also other leadership changes within the banking industry, the last being undertaken by the sixth-largest lender in the country, AMMB Holdings Bhd.
As part of AMMB Group’s transition plan, chairman Tan Sri Azman Hashim has decided to relinquish his chairmanship and positions in stages in the boards of six subsidiaries within the group. He will retire as chairman of AmBank at the end of next year. The banking group also has a new CEO Datuk Sulaiman Mohd Tahir.