In a statement, the group said Azman will continue to contribute as chairman emeritus and honorary advisor upon his retirement. He also remains a major shareholder of the group.
“I am honoured to have led this Group over the last 40 years. It has been a rewarding experience, particularly my journey working alongside AmBankers as well as the many Malaysians who have trusted our Group for the past four decades.
"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," said Azman.
According to Ambank, Azman has steered the group through times of adversity including the economic crisis Malaysia faced in the 1980s triggered by the high interest rates in the US, the Asian Financial Crisis in the 1990s and the global financial crisis, which impacted Malaysia circa 2008/2009.
Azman continues to hold the position of chairman in multiple entities including the Asian Institute of Chartered Bankers, Asian Banking School Sdn Bhd, Financial Industry Collective Outreach (FINCO), Malaysia South-South Corporation Berhad, Malaysia-Japan Economic Association, Perdana Leadership Foundation, Malaysia South-South Association, Universiti Teknologi Malaysia – Azman Hashim International Business School Advisory Council and Chairman Emeritus of Pacific Basin Economic Council (PBEC).