KUALA LUMPUR (Sept 17): Alliance Bank Malaysia Bhd announced that its chairman Tan Sri Ahmad Mohd Don, 77, has passed away earlier on Tuesday.

Ahmad led the Alliance Bank group as chairman since Feb 1, 2017 and was instrumental in Alliance Bank’s transformation journey, emphasising the inculcation of the bank’s core values in everything it does, according to the banking group in a statement.

“We are greatly saddened by Ahmad’s passing on. He was a very well-known and well respected figure in the community and the banking and finance industry. He was also a chairman of great wisdom and experience. He made a tremendous impact on the bank, bringing about positive changes amidst challenges over the years to build a strong banking group in Malaysia," said Alliance Bank Group chief executive officer Kellee Kam.

“Our board members and management team were inspired by his leadership and Alliance Bank was privileged to have him at the helm as we embarked on a solid growth path,” Kam added.

"In continuing his great work and legacy, the board of directors has effected the necessary plans for succession. The bank will make further announcements soon on our board leadership when appropriate," Kam further added.

Ahmad started his career with the Malaysian government as an accountant between 1972 and 1973, before joining the private sector. He had extensive experience in the finance and banking sector, including in Pernas Securities Sdn Bhd, Permodalan Nasional Bhd and Malayan Banking Bhd (Maybank).

He joined Maybank in 1982 and served as group managing director and chief executive officer from 1991 to 1994. He then became the fifth governor of Bank Negara Malaysia from May 1994 to August 1998.

Ahmad was also chairman of the boards of KAF Investment Bank Bhd, Zurich Takaful Malaysia Bhd, Zurich Life Insurance Malaysia Bhd, Komarkcorp Bhd, Hap Seng Plantations Holdings Bhd, Malaysia Genomics Resource Centre Bhd and Sunway REIT Management Sdn Bhd.

In addition, he held directorships on the boards of JP Morgan Chase Bank Bhd, United Malacca Bhd and MAA Group Bhd.