KUALA LUMPUR: HSBC Bank Malaysia Bhd has announced the appointment of Datuk Kamaruddin Taib as chairperson of its board of directors effective from 1 April 2022.
HSBC Amanah Malaysia Bhd (HSBC Amanah), meanwhile, has appointed has announced Datin Che Teh Ija Mohd Jalil as chairperson of its board of directors effective from January 1 2022.
Tan Sri Krishnan Tan Boon Seng, who is currently an independent non-executive director and chairperson of the board of directors of HSBC Malaysia, will retire from the board on April 1 2022.
Kamaruddin is presently the independent non-executive chairperson of HSBC Amanah.
He will resign from the Board of HSBC Amanah and join the board of HSBC Malaysia as independent non-executive director on January 1 2022.
He will thereafter be appointed as chairperson of HSBC Malaysia's board of directors on April 1 2022.
Kamaruddin has significant experience in investment banking, corporate finance, mergers and acquisitions.
His career started in 1980 with a leading investment bank in Malaysia.
Subsequently, he served as a director of several private organisations and companies listed on Bursa Malaysia.
Apart from his vast experience of serving on the board of companies listed on Bursa Malaysia, he has also served on
the board of companies listed on the Stock Exchange of India as well as listed on Nasdaq.
"I am delighted to welcome Datuk Kamaruddin as my successor. For more than 130 years, HSBC has played a key role in Malaysia's growth and development. Datuk Kamaruddin's wealth of experience will enable HSBC Bank Malaysia to further strengthen our corporate and retail banking capabilities and accelerate investments in innovation and technology while focusing on the sustainable growth of the business in the country," Tan said in a statement.
Meanwhile, Teh is currently an independent non-executive director of HSBC Malaysia.
She will resign from the board of HSBC Malaysia and join the board of HSBC Amanah as independent non-executive chairperson on January 1 2022.
In her 17 year career in the Securities Commission, she has focused on capital market development and regulation, in particular, relating to development of market intermediaries and the protection of investors through education and engagement.
During her time in public service, she gained invaluable experience in the areas of economic policy making, financial markets development and regulation as well as international finance through her work on IMF, World Bank, WTO, Apec and Asean issues representing the Malaysian Ministry of Finance.
"Her in-depth understanding of the country's financial landscape will be fundamental to enabling HSBC Amanah to achieve its ambition of having 51 per cent of its financing assets comply with the Triple Bottom Line principles for the prosperity of people and the planet," Tan said.