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New Chairmen for key Maybank subsidiaries

28 March 2016

4 min read

Maybank is pleased to announce some changes in chairmanship of its key subsidiaries, following the retirement of some directors. Datuk Mohaiyani Shamsudin has been appointed as Chairman of Maybank Investment Bank and Datuk R Karunakaran as Chairman of Etiqa Insurance Berhad (EIB) and Etiqa Takaful Berhad (ETB), effective 1 March 2016.

Datuk Mohaiyani is currently a director of Maybank and was recently appointed Chairman of Maybank Kim Eng Holdings Ltd from 1 January 2016. Her other directorships within the Maybank Group include being Chairman of Maybank Asset Management Group Berhad and Maybank Asset Management Sdn Bhd. Apart from the Maybank Group, she also serves as director of the Capital Market Development Fund as well as a member and trustee of the National Heart Institute Foundation, NUR Foundation, Perdana Leadership Foundation and National Council of Women's Organisations Malaysia.

Datuk Mohaiyani has had extensive experience in the area of financial services, having served amongst others, as Chairman of the Association of Stockbroking Companies Malaysia, Deputy Chairman of the Kuala Lumpur Stock Exchange (now Bursa Malaysia) as well as owner and Managing Director of Mohaiyani Securities Sdn Bhd.

Datuk Karunakaran is also a director of Maybank and currently sits on the Boards of Maybank (Cambodia) Plc, Maybank Ageas Holdings Bhd, Maybank Asset Management Group Bhd, Mayank Asset Management Sdn Bhd and Maybank Agro Fund Sdn Bhd. In addition, he is a director of Bursa Malaysia Berhad, IOI Corporation Bhd and Integrated Logistics Bhd.

Datuk Karunakaran previously served in the Malaysian Investment Development Authority where his last position was as Director General. He was also a past member of the board of Etiqa Insurance Berhad, the Cabinet Committee on Investment for High Impact Projects and PEMUDAH.

Maybank Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor has relinquished his chairmanship of Maybank Investment Bank to assume the post of Chairman of Maybank Ageas Holdings Berhad (MAHB), also effective 1 March 2016. MAHB is the holding company for Maybank Group’s insurance business under the Etiqa brand, which includes EIB and ETB.

Tan Sri Megat Zaharuddin said the appointments are part of the Group’s continuous efforts to maximise leverage of its boardroom diversity by tapping on the skills of talented individuals.

“Their diverse backgrounds and further deep understanding of our businesses, having been with us for a few years, will be invaluable as we continue as a board to guide and support management to create value for stakeholders,” he added. “At the same time, the appointments are a clear demonstration of our commitment to Maybank Group’s Inclusiveness & Diversity Agenda, which also sees the selection of the first female Chairman of a major Maybank Group subsidiary.”