Malaysia Largest Bank Maybank New Senior Management: Dato’ Muzaffar Hisham Appointed as Group CEO Islamic Banking & CEO of Maybank Islamic Berhad Succeeding Dato’ Mohamed Rafique Merican Who is Retiring, Dato’ John Chong Appointed as Group CEO of Global Banking, Tuan Syed Ahmad Taufik Albar Appointed as Group CEO of Community Financial Services, Steffano Ridwan Appointed as President Director of PT Bank Maybank Indonesia
23rd February 2024 | Hong Kong
Malaysia largest bank Maybank (23/2/24: $23.8 billion market value) announced new senior management appointments – Dato’ Muzaffar Hisham appointed as Group CEO Islamic Banking & CEO of Maybank Islamic Berhad (1/3/24) succeeding Dato’ Mohamed Rafique Merican who is retiring (20/6/24), Dato’ John Chong appointed as Group CEO of Global Banking (1/3/24), Tuan Syed Ahmad Taufik Albar appointed as Group CEO of Community Financial Services (1/3/24), and Steffano Ridwan appointed as President Director of PT Bank Maybank Indonesia (1/4/24). Announcement: “Maybank Group is pleased to announce several new appointments to its top management lineup, to drive the Group’s business growth and unlock its full potential, ensuring long-term sustainability and performance excellence, in line with its M25+ aspirations … … 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. He will be responsible in delivering both scale and pervasiveness for Islamic banking within the Group, spearheading the Group’s global leadership ambitions in Islamic wealth management, and pioneering innovative digital solutions for the Group. He will also champion the myimpact values-driven agenda Group-wide, which is being tailored to be a key differentiator for Maybank. Dato’ Rafique will assume the role of Advisor commencing 1 March 2024 and will retire from the Maybank Group on 20 June 2024.” In December 2023, Maybank announced the appointment of Head of Community Financial Services and Singapore & Head of Group Wealth Management Alvin Lee as Maybank Singapore CEO (1/1/24), succeeding Dr John Lee Hin Hock who retired at the end of 2023 (31/12/23) after 12 years with Maybank.
“ Malaysia Largest Bank Maybank New Senior Management: Dato’ Muzaffar Hisham Appointed as Group CEO Islamic Banking & CEO of Maybank Islamic Berhad Succeeding Dato’ Mohamed Rafique Merican Who is Retiring, Dato’ John Chong Appointed as Group CEO of Global Banking, Tuan Syed Ahmad Taufik Albar Appointed as Group CEO of Community Financial Services, Steffano Ridwan Appointed as President Director of PT Bank Maybank Indonesia “
Dato’ Khairussaleh Ramli, President & Group CEO of Maybank: “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 … … On behalf of Maybank, I would like to thank Dato’ Rafique and Taswin for their impressive careers, dedicated service and remarkable contributions they have made to the Group.”
Malaysia Largest Bank Maybank New Senior Management: Dato’ Muzaffar Hisham Appointed as Group CEO Islamic Banking & CEO of Maybank Islamic Berhad Succeeding Dato’ Mohamed Rafique Merican Who is Retiring, Dato’ John Chong Appointed as Group CEO of Global Banking, Tuan Syed Ahmad Taufik Albar Appointed as Group CEO of Community Financial Services, Steffano Ridwan Appointed as President Director of PT Bank Maybank Indonesia
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. He will be responsible in delivering both scale and pervasiveness for Islamic banking within the Group, spearheading the Group’s global leadership ambitions in Islamic wealth management, and pioneering innovative digital solutions for the Group. He will also champion the myimpact values-driven agenda Group-wide, which is being tailored to be a key differentiator for Maybank. Dato’ Rafique will assume the role of Advisor commencing 1 March 2024 and will retire from the Maybank Group on 20 June 2024.
- 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. During his tenure, the business experienced growth in regional market share, establishing itself as one of ASEAN’s leading investment banks while maintaining its market leadership in Malaysia.
- 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. 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.
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.
Malaysia Largest Bank Maybank Appoints Alvin Lee as Singapore CEO, Succeeds Dr John Lee Hin Hock Who is Retiring End of 2023 after 12 years with Maybank
9th December 2023 – Malaysia largest bank Maybank (9/12/23: $23 billion market value) has announced the appointment of Head of Community Financial Services and Singapore & Head of Group Wealth Management Alvin Lee as Maybank Singapore CEO (1/1/24), succeeding Dr John Lee Hin Hock who is retiring at the end of 2023 (31/12/23) after 12 years with Maybank. Maybank: “Maybank has appointed Alvin Lee Han Eng as its Country CEO, CEO Maybank Singapore Limited and CEO Malayan Banking Berhad Singapore Branch, effective 1 January 2024. Alvin will be responsible to drive the entire spectrum of Maybank’s operations in Singapore, which is one of the Group’s three home markets. He will report to the President & Group CEO of Maybank and serve as a member of Group Executive Committee. Alvin will succeed Dr John Lee Hin Hock who will retire from Maybank Group effective 31 December 2023, after an accomplished career with the Group spanning 12 years. Alvin is currently Head, Community Financial Services (CFS), Singapore and Head, Group Wealth Management. With a banking career that spans more than 30 years, 11 of which with Maybank, Alvin has proven to be a performer, including leading the transformation of Singapore’s core CFS business, with a focus on modernisation through greater digital adoption and enhancing customers’ experience. He also spearheaded the launch of Maybank Private Wealth in 2013 and introduced Group Wealth Management in 2016 comprising of Private, Premier and Privilege customers, which led to commendable growth in revenue, fund income and investment assets under management.”
President & Group CEO of Maybank, Dato’ Khairussaleh Ramli: “With Alvin’s experience and track record, he is expected to steer Maybank Singapore along a similar path of impactful results both locally and regionally. With Maybank’s multi-business presence and Singapore being the second largest contributor to the Group’s business, coupled with the digitalisation developments in the financial services industry and Maybank’s focus on sustainability and value based financial services, Alvin will continue to lead Maybank Singapore’s transformation efforts and boost growth in line with the Group’s M25+ strategic priorities.
Under his (Dr John Lee Hin Hock) guidance, Maybank Singapore has not only weathered the pandemic and a volatile interest rate environment, but achieved commendable growth in profitability. Our M25+ strategic themes for Singapore, spearheaded by Dr John, has also gained positive traction, specifically in our efforts towards regionalisation with notable efforts going into growing the Malaysia-Singapore (MY-SG) corridor.”
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