Maybank announces new top management lineup

KUALA LUMPUR (Feb 20): Malayan Banking Bhd (Maybank) on Tuesday announced changes to its top leadership to drive the bank’s business growth and realise its full potential to ensure long-term sustainability and excellence in line with its M25+ aspirations.

The bank has appointed Datuk Muzaffar Hisham, currently its group CEO of global banking, to succeed Datuk Mohamed Rafique as the group CEO of Islamic Banking and CEO of Maybank Islamic Bhd.

Rafique, meanwhile, will assume the role of advisor from March 1 and will retire from the Maybank Group on June 20, Malaysia’s largest bank said in a statement.

Datuk John Chong will take over the role of group CEO of global banking from Muzaffa. Chong is currently serving as the group CEO of community financial services (CFS), according to the bank.

Syed Ahmad Taufik Albar

Datuk John Chong

Syed Ahmad Taufik Albar, on the other hand, will be the new group CEO of CFS. He was previously managing director of group wholesale banking and group chief financial officer at RHB Bank Bhd.

On top of that, CFS director of PT Bank Maybank Indonesia Tbk (MBI) Steffano Ridwan has been nominated to take over the role of MBI president director from Taswin Zakaria, who will be concluding his term on March 31.

Steffano’s appointment, Maybank said, is subject to approvals from the Otoritas Jasa Keuangan and shareholders of the company.

Datuk Muzaffar Hisham

Steffano Ridwan

“These appointments will enable us to strengthen the capabilities of our top leadership team, building on each other’s diverse experience and background. This will be vital in ensuring that we are well-positioned to steer Maybank forward, as we pursue our M25+ strategic objectives and beyond as well as continue delivering exceptional value to our customers and stakeholders,” said Maybank president and group CEO Datuk Khairussaleh Ramli.

Shares of Maybank closed up five sen or 0.53% at RM9.51 on Tuesday, giving it a market capitalisation of RM114.69 billion.