Maybank appoints new leadership to drive M25+ aspirations

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has announced several new appointments to its top management lineup to drive business growth and unlock its full potential.

In a statement, the bank said the appointments will ensure long-term sustainability and performance excellence, in line with its M25+ aspirations.

Effective March 1, 2024, Maybank said Datuk Muzaffar Hisham, currently its global banking group chief executive officer (CEO), will succeed Datuk Mohamed Rafique Merican as group CEO, Islamic Banking and CEO of Maybank Islamic Bhd.

“Muzaffar is an experienced banker with over 25 years of regional banking experience encompassing wholesale banking, corporate and investment banking as well as Islamic banking.

“He will be responsible in delivering both scale and pervasiveness for Islamic banking within the group, spearheading the global leadership ambitions in Islamic wealth management and pioneering innovative digital solutions for the group.”

Maybank said Rafique will assume the role of advisor commencing March 1 and will retire from Maybank on June 20, 2024.

Additionally, Datuk John Chong, currently serving as Maybank’s community financial services (CFS) group CEO, will be appointed group CEO of global banking, taking over from Muzaffar.

“With a tenure at Maybank Group since 1993 and over three decades of regional financial services experience, he will reinforce the delivery of a regional wholesale banking proposition with greater emphasis on deepening our coverage and relationships across different segments and bespoke sector solutions, aligned with the group global banking’s M25+ strategy and aspirations,” said Maybank.

Meanwhile, Syed Ahmad Taufik Albar will be appointed as the new group CEO of CFS.

“Taufik’s main responsibility will be to drive the formulation and execution of business strategy for group CFS.

“This includes translating the Group M25+ corporate plan into business-level strategic initiatives across Maybank’s key home markets, strengthening the competitive advantage through digital capabilities focusing on customer journeys and centricity, and spearheading an efficient business model for CFS.”

Additionally, Steffano Ridwan, who is currently director, CFS of PT Bank Maybank Indonesia Tbk (MBI), has been nominated to be appointed as president director of MBI, effective April 1.

“This appointment is subject to approvals from the Otoritas Jasa Keuangan and shareholders of the company, to be obtained via an AGM.

“Steffano will be responsible to fortify digitalisation and transformation efforts to uplift MBI via development of customer-centric solutions and new digital capabilities to support retail and small and medium enterprises growth, as well as continuing to build the global banking franchise and Shariah banking business, in particular wealth management.”

Maybank president and group CEO Datuk Khairussaleh Ramli said the appointments would enable the group to strengthen the capabilities of its 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.”