The predicament of banking doyens

Clear direction: Nor Shamsiah at the second-quarter gross domestic product briefing. She made it clear that the ‘grandfather rule’ will not be extended to other individuals.

THE unwritten “grandfather rule” in the local banking scene, which was first applied to three seasoned bankers, may be the push for the next banking sector consolidation.

The three are Tan Sri Teh Hong Piow of Public Bank Bhd, Tan Sri Azman Hashim of AMMB Holdings Bhd (AmBank) and Tan Sri Quek Leng Chan of Hong Leong Bank Bhd (HLB).