PETALING JAYA: Malayan Banking Bhd’s (Maybank) appointment of Datuk Khairussaleh Ramli (pic) as group president and chief executive officer (CEO) comes at a time when environmental, social and governance concerns are increasingly relevant.
Khairussaleh, 54, has been appointed to succeed Datuk Seri Abdul Farid Alias, effective on May 1.
Maybank said the appointment of Khairussaleh has been approved by Bank Negara.
Abdul Farid would leave Maybank on April 30 after he did not seek an extension of his contract which is set to expire on Aug 1.
In a statement, Maybank chairman Tan Sri Zamzamzairani Mohd Isa said the board welcomes Khairussaleh and looks forward to working together as the banking group enters its next growth phase.
“He re-joins 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.
“We are confident that with his vast experience, he will be able to lead Maybank in its next growth phase, pillared on the M25 focus areas of digitalisation, sustainability and new value drivers,” said Zamzamzairani.
Khairussaleh, 54, was most recently the group managing firector of RHB Banking Group, where he charted the group’s strategic direction and led the organisation to achieve its goals and value-creation objectives under its five-year strategy ending FY22 (financial year ending Dec 31, 2022).
Prior to joining RHB Banking Group, he was with Maybank between November 2008 and September 2013, having served over three years as the group chief financial officer before taking up the position of president director and CEO of Maybank’s Indonesian operations.
While at Maybank Indonesia (then Bank Internasional Indonesia), he introduced a business transformation programme that ultimately led to its turnaround, resulting in an 81% profit growth for FY12.
He also received the “Best CFO – chief financial officer – in Malaysia Award” in 2010 and 2011 from Finance Asia and the “Best CFO in Malaysia Award” in 2012 from Alpha South-East Asia.
His other corporate sector experiences include positions as group chief strategy officer at Telekom Malaysia Bhd, CEO of TM Ventures and CFO at Bursa Malaysia Bhd, where he led the listing of the company on its own exchange in 2005.
He also spent eight years at Public Bank Group in the corporate banking and stockbroking and futures broking divisions.
Khairussaleh holds a Bachelor of Science in Business Administration from Washington University and is a graduate of the Advanced Management Programme at Harvard Business School.
He is also a Fellow Chartered Banker with the Asian Institute of Chartered Bankers.
Meanwhile, Zamzamzairani said the Maybank board also expressed its highest appreciation to Farid, for his remarkable contributions, service and commitment in building a forward looking organisation that has been ahead of many of its regional peers, especially on the digital and sustainability front.
In Bank Negara’s Financial Sector Blueprint (FSB) 2022 to 2026, it was noted that to promote a smooth transitioning to green economy, climate risk will be integrated into banks’ internal functions and operations.
Growth in green financing and collaboration with government agencies would support the gradual transition to a low-carbon economy in an orderly manner.
The Climate Change and Principle-based Taxonomy framework will be implemented to facilitate the assessment of climate-related risks and encourage the financing of environmentally sustainable economic activities.
The central bank also recently announced the availability of RM1bil of low-carbon transition facility to encourage and support small and medium enterprises to adopt sustainable business practices.
In a report, AmInvestment Bank Research noted that the FSB focuses on three key broad themes including the availability of all-inclusive, diversified financial options including digital solutions to customers and increasing the financial safety net.
The second theme is expanding alternative financing for new, innovative enterprises coupled with sustaining Malaysia’s leadership as an international gateway for Islamic finance; and third theme is to grow value-based intermediation assets.
More than 50% of new financing will be for green and transitioning activities.
In a recent report, Hong Leong Investment Bank (HLIB) Research said from its proprietary ESG scoring model, it continued to see improving trajectory in ESG scores for majority of the banks under our coverage, indicating the level of commitment towards ESG has been growing.