PETALING JAYA: Affin Bank Bhd
has announced the retirement of its chairman, Datuk Md Agil Mohd Natt.
Agil, 74, was appointed chairman of the group on Nov 8, 2019.
In a statement in the bank’s annual report, president and group chief executive officer Datuk Wan Razly Abdullah said Agil demonstrated steadfast leadership and a clear commitment to advancing the group across several key fronts, throughout his tenure.
"His wisdom and guidance have played an important role in strengthening our governance foundations and sustainability agenda, evidenced by our inclusion in the Bursa Malaysia FTSE4Good Index and the attainment of an A3 rating from Moody’s for the first time in our history.
“Agil’s legacy is also one of resilient leadership in the most trying of times. Whether during the Covid-19 pandemic or more recently amid geopolitical tensions and economic uncertainty, his steady and sure guidance has set the tone for our solidity as an organisation, keeping us attuned to the needs of our customers and people while firmly on course with our ongoing transformation journey.”
Separately, Affin announced the completion of its acquisition in Pheim Asset Management Sdn Bhd (Pheim AM) for RM50mil.
“Following the receipt of all required regulatory approvals, this milestone represents a strategic step in Affin’s efforts to strengthen its position as a universal banking group, while reinforcing the group’s focus on expanding its wealth product offerings and diversifying its income streams.”
Established in 1993, Pheim AM is principally involved in asset management.
Wan Razly said in a statement that the completion of this acquisition marks a strategic step in strengthening Affin’s wealth management platform.
“As the Bank continues to expand its presence in fee-based income and investment solutions, this enhances our ability to deliver more integrated and scalable offerings to our customers.”
