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Maybank on the hunt for new CEO

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Maybank Investment Bank is searching for a new leader after Tengku Zafrul Tengku Aziz resigned last month.

Maybank IB, the investment arm of Malayan Banking, told Bernama it is still in the process of short-listing candidates after Tengku Zafrul stepped down on September 24.

“We are still working towards choosing the most suitable person to develop the company to make sure that he fully understands the challenges ahead for Maybank IB,” group chairman Tan Sri Megat Zaharuddin Megat Mohd Nor told reporters at an event last week.

Currently, John Chong, Maybank IB’s deputy chief executive officer and head of investment banking and advisory, is assuming the position of interim officer-in-charge for Maybank IB and Maybank Kim Eng.

Megat Zaharuddin added while the company has suitable internal talent, Maybank was open to hiring “someone from outside the company” to fill the position. Once someone has been identified for the role, the bank will submit the candidate’s name to Bank Negara Malaysia (The Central Bank of Malaysia) for approval.

“We will see how we can replace this talent as we move forward. We are confident of getting the right team by balancing internal talents with external recruitment, as we have done in the past,” he said.

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