KUALA LUMPUR: Bursa Malaysia Bhd
has confirmed that Datuk Muhamad Umar Swift will be stepping down as CEO of the stock exchange operator on March 1, 2025, after six years at the helm.
Datuk Fad'l Mohamed, currently RHB Bank Bhd's managing director of group wholesale banking, will succeed him as the new CEO on the same day.
"The decision was made by its board of directors, in line with the Exchange’s leadership succession plan and with the upcoming retirement of Datuk Muhamad Umar who has been the CEO of Bursa Malaysia since February 2019.
"The Securities Commission Malaysia has also given its concurrence for the appointment of the new CEO in accordance with Section 10 of the Capital Markets and Services Act 2007," said the stock exchange operator in a statement.
Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said Muhamad Umar will be remembered for many significant contributions and achievements during his tenure.
"These include among others, setting the vision and roadmap for Bursa Malaysia to be a multi-asset exchange, keeping the markets open with fully operational trading throughout the Covid-19 pandemic, and steering the Exchange into a new era of sustainability, customer-centricity, and digitalisation.”
Meanwhile, Abdul Wahid said Fad'l's understanding of capital markets and investment banking sets him in solid stead to lead the Exchange into the future.
"We are confident that his expertise will drive continued growth and success for the Exchange and the marketplace,” he added.
