Maybank appoints Siew Chan Cheong as group chief strategy officer

Dr Siew Chan Cheong (Photo credit: Malayan Banking Bhd)

KUALA LUMPUR (Aug 15): Malayan Banking Bhd (Maybank) has appointed Dr Siew Chan Cheong as the bank’s group chief strategy officer (CSO), effective Monday (Aug 15).

In a statement issued on Monday, Maybank said that Siew will be responsible for developing and executing strategies for the banking group. He will also be responsible for broadening and deepening the digitalisation agenda, and for driving the industrialisation and adoption of analytics across the group to achieve business goals.

Siew took over the role from Michael Foong, who relinquished his position as the group’s CSO. Foong, meanwhile, remains as Maybank’s CEO of International. He held the position of Maybank’s CSO and CEO of International concurrently.

Siew, who was the group chief strategy and innovation officer of the RHB Banking Group, has over 20 years of experience in formulating and implementing multi-country transformation strategies across various industries and organisations, including major banks in Europe and Asia.

“Dr Siew’s understanding of global trends and hands-on track record in responding to rapid digital changes will allow him to drive compelling and connected thinking within the organisation. This is key, as we further pursue the bank’s digital aspirations, explore new income drivers and adopt strategic transformation initiatives to drive better performance,” commented Maybank group president and chief executive officer Datuk Khairussaleh Ramli.

Maybank shares closed down six sen or 0.67% at RM8.91 on Monday, valuing the bank at RM105.65 billion.