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Newsbreak: Azlan Zainol to exit RHB, join MBSB

AFTER more than 15 years as RHB Bank Bhd chairman, Tan Sri Azlan Zainol will be retiring from the country’s fourth-largest lender by assets at the end of this month, according to several sources familiar with the matter.
Azlan, a former CEO of the Employees Provident Fund (EPF), will join Malaysia Building Society Bhd as its new chairman, the sources say. MBSB had recently said in a stock exchange filing that it would announce a new chairman on March 1. Its previous chairman, Tan Sri Abdul Halim Ali, 77, retired on Feb 6.
Market speculation is that Datuk Mohamad Nasir Ab Latif will be the one to succeed Azlan as chairman of RHB Bank. Mohamad Nasir, former deputy CEO of the investment division at EPF, has been a non-independent non-executive director at RHB Bank since last March. He retired from EPF in December 2019 and is chairman of RHB Islamic Bank Bhd. ....

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Winds of change blowing through MBSB

CHANGES are afoot at Malaysia Building Society Bhd (MBSB), starting with a board and management revamp at its wholly-owned banking subsidiary MBSB Bank Bhd. This will be followed by a group restructuring, which could take place as early as mid-2022, president and CEO Datuk Seri Ahmad Zaini Othman tells The Edge in an interview.
The changes are aimed at strengthening the country’s second largest standalone Islamic bank and giving it a more competitive edge. MBSB is 65.4%-owned by the Employees Provident Fund (EPF).
At the boardroom level, a new chairman will be brought in on March 1 to replace Tan Sri Abdul Halim Ali, 77, who has chosen to retire after 19 years at the helm. He stepped down as chairman of both MBSB and MBSB Bank on Feb 6, according to a stock exchange filing. ....

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