KUALA LUMPUR (June 4): Malaysian Rating Corporation Bhd (MARC), one of Malaysia’s two domestic ratings agencies, on Tuesday named Arshad Mohammed Ismail as group CEO effective immediately.

Arshad succeeds Datuk Jamaludin Nasir, who will take on an advisory role until the end of his term this coming November, MARC said in a statement. Chairman Tan Sri Nik Norzrul Thani Nik Hassan Thani thanked Jamaludin for his service.

“We would like to congratulate Arshad on his new appointment and look forward to his stewardship in bringing the MARC group to even greater heights,” he said.

Prior to the latest appointment, Arshad was the president and CEO of Export-Import Bank of Malaysia Bhd.

Before that, he held various leadership and management roles at Bank Pembangunan Malaysia Bhd, Maybank Islamic Bhd, International Islamic Liquidity Management Corp, Abu Dhabi’s Al Hilal Bank, Saudi Arabia’s Aayan Capital and HSBC Amanah in the United Arab Emirates, among others.

Arshad, who was trained as a lawyer at the International Islamic University Malaysia, is also a chartered banker with the Asian Institute of Chartered Bankers.

Jamaludin, meanwhile, had served on MARC’s rating committee before taking on the role as MARC’s chief executive in 2019. MARC said he has initiated a rebranding exercise and numerous strategic initiatives that the company is now embarking on, both locally and overseas.

He also played a significant role in the reorganisation of the group and its business approach to the market, as well as the strengthening of the ratings quality profile of MARC Ratings Bhd. He was also a driver of the development and growth of MARC Data Sdn Bhd.