Maybank Announces Major Top Management Changes

Maybank Group has announced major reshuffle of its top management as the group said it gears to drive business growth and unlock its full potential, ensuring long-term sustainability and performance excellence, in line with its M25+ aspirations.

Dato’ Khairussaleh Ramli, President & Group CEO of Maybank said, “These appointments would enable us to strengthen the capabilities of our 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.”

The new appointments are as follows, effective 1 March 2024: Dato’ Muzaffar Hisham currently Group CEO, Global Banking, will succeed Dato’ Mohamed Rafique Merican as Group CEO, Islamic Banking and CEO of Maybank Islamic Berhad. Dato’ 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.

Dato’ John Chong, currently serving as the Group CEO, Community Financial Services (CFS), will be appointed Group CEO of Global Banking, taking over from Dato’ 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. Dato’ John was also previously CEO of Maybank Investment Banking Group and Maybank Investment Bank Berhad.

Maybank said Tuan Syed Ahmad Taufik Albar will be appointed as the new Group CEO of CFS. Taufik joins Maybank with a distinguished career that spans over 25 years and has extensive experience in both domestic and international organisations. He started his career with Shell and had a significant career at RHB, serving as Managing Director of Group Wholesale Banking and Group Chief Financial Officer. Taufik’s main responsibility will be to drive the formulation and execution of business strategy for Group CFS.

In addition, 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 1 April 2024. This appointment is subject to approvals from the Otoritas Jasa Keuangan (OJK) and shareholders of the company, to be obtained via an Annual General Shareholder Meeting. 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 SME growth as well as continuing to build the global banking franchise and Shariah banking business, in particular wealth management. He will succeed Taswin Zakaria who will be concluding his term as President Director on 31 March 2024.

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