HSBC Malaysia appoints Kamaruddin Taib as new chairman

by S BIRRUNTHA / pic by MUHD AMIN NAHARUL

HSBC Bank Malaysia Bhd has announced the appointment of Datuk Kamaruddin Taib as chairperson of its board of directors effective April 1, 2022. 

HSBC Amanah Malaysia Bhd, meanwhile, has appointed Datin Che Teh Ija Mohd Jalil as chairperson of its board of directors effective from Jan 1, 2022. 

In a statement yesterday, the bank noted that Tan Sri Krishnan Tan Boon Seng, who is currently an independent non-ED 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 (pic: Bernama)

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-ED on Jan 1, 2022 before assuming the chairperson role in April. 

Kamaruddin has significant experience in investment banking, corporate finance, mergers and acquisitions. 

His started his career in the financial sector 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. 

Kamaruddin has also served on the board of companies listed on the Stock Exchange of India and 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 noted in a statement yesterday.

Che Teh Ija is currently an independent non-ED 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 Jan 1, 2022.

She spent 17 years at the Securities Commission Malaysia where she focused on capital market development and regulations, 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 policymaking, financial markets development and regulation, as well as international finance through her work on International Monetary Fund, World Bank, World Trade Organsation, Asia-Pacific Economic Cooperation and Asean issues representing the Malaysian Ministry of Finance. 

Tan stated that as the new chairperson of HSBC Amanah’s board of directors Che Teh Ija will lead the board and guide the bank’s Islamic subsidiary to accelerate the growth of the bank’s Islamic business in the country. 

“Her in-depth understanding of the country’s financial landscape will be fundamental to enabling HSBC Amanah to achieve its ambition of having 51% of its financing assets comply with the Triple Bottom Line principles for the prosperity of people and the planet. 

“Significantly, Datin Teh’s appointment as chairperson of HSBC Amanah’s board of directors reinforces the bank’s commitment to improving the representation of women on boards,” he noted.