KUALA LUMPUR (March 30): RHB Banking Group has appointed Mohd Rashid Mohamad as group managing director (MD) cum group chief executive officer (CEO), effective April 1, 2022. Currently the MD of group wholesale banking, he was appointed Officer-in-Charge and Principal Officer of RHB Banking Group on Jan 24, 2022.

Mohd Rashid succeeds Datuk Khairussaleh Ramli, who left the group on March 25, 2022. Khairussaleh has been appointed Malayan Banking Bhd group's new president and chief executive officer (CEO), with effect from May 1.

Aged 54, Mohd Rashid began his career in Bank Negara Malaysia, where he had the opportunity to serve in the examination/supervision and investment operations & financial markets departments.

As group MD and CEO, he will lead the group in driving business growth and further enhancing operational excellence, both in Malaysia and regionally, towards achieving financial targets and maximizing total shareholder returns.

“Mohd Rashid joined RHB as group treasurer in 2014 and was later appointed as managing director of group wholesale banking in July 2021. He has extensive experience within the financial services industry with strong commercial, financial and operational track record, spanning more than 20 years in senior leadership positions with several financial institutions across Malaysia and Singapore, namely ABN Amro NV, The Royal Bank of Scotland and AmBank Group," said Tan Sri Ahmad Badri Mohd Zahir, chairman of RHB Banking Group, in a statement.

“During his tenure with the group, Mohd Rashid has played a key role in driving the successful execution of the group’s FIT22 strategy, delivering significant strategic and financial achievements which include driving the consolidation, as well as spearheading the integration and digitalisation of group wholesale banking products and solutions across the region. As at FY2021, group wholesale banking contributed 57% of the group’s profit before tax.

“This appointment brings continuity and stability in leadership within the group and underlines the effectiveness of our succession planning. We are confident that Rashid, with the support of the group senior management team, will be able to lead the group into the next phase of our transformation journey, as we continue to deliver value for all our key stakeholders,” Ahmad Badri added.

“Our sincere appreciation to the outgoing group MD/CEO, Khairussaleh Ramli, for his leadership and invaluable contributions in the last eight years. We wish him all the best in his future endeavours."

Mohd Rashid holds a Master in Business Administration with distinction from the University of Wales Cardiff, United Kingdom and is a member of the Malaysian Institute of Accountants (MIA).

RHB Bank Bhd’s share price closed one sen or 0.17% higher to RM5.94 on Wednesday (March 30), which translates to a market capitalisation of RM24.61 billion.