KUALA LUMPUR (April 27): RHB Capital Bhd (RHBCap) said Datuk Khairussaleh Ramli, 46, will be its new chief executive officer (CEO) and managing director (MD) and group CEO and group MD of the RHB Banking Group, from May 5, 2015.
In a filing to Bursa Malaysia this evening, RHBCap said it has obtained the central bank’s approval for the appointment and that Khairussaleh will be taking over from Kellee Kam Chee Kiong, who will be leaving the RHB Banking Group soon.
“As the newly-appointed group managing director, Khairussaleh will be responsible for steering the group to continue its aspirations of being a leading integrated financial services institution.
“We are confident his in-depth understanding of the financial services industry, together with his extensive management experience, will steer RHB Banking Group towards achieving its aspiration to be a leading multinational financial services group, not only in Malaysia but also within the region,” said RHBCap chairman Datuk Khadar Merican.
Khairussaleh joined the group in December 2013, as deputy group MD and MD of RHB Bank Bhd. He will continue to hold his position as RHB Bank MD, with his new appointments.
On Kam’s departure, Khadar said, “RHB Banking Group would like to take this opportunity to express our gratitude and appreciation to Mr Kellee Kam for his outstanding service, dedication and able leadership, including charting the course of the RHB Banking Group over a span of more than 10 years to where we are today, and our achievements thus far. Whilst we are sad to see such a dynamic leader leave our organisation, we wish him every success for the future.”
RHBCap (fundamental: 1.5; valuation: 2.1) said Khairussaleh has more than 20 years of experience in the financial services and capital markets industry, and has held senior positions in well-established financial institutions in Malaysia and Indonesia.
Khairussaleh was previously the president-director of PT Bank Internasional Indonesia Tbk — which is 98.31%-owned by Malayan Banking Bhd (Maybank) — from Jan 16, 2012 until Sept 4, 2013.
Khairussaleh holds a Bachelor of Science in Business Administration from Washington University, and is a graduate of the Advanced Management Programme at Harvard Business School, Harvard University.
In 2010 and 2011, Khairussaleh was awarded with the “Best CFO in Malaysia Award” from Finance Asia, and the “Best CFO in Malaysia Award” in 2012 from Alpha Southeast Asia.
RHBCap ended its trade 1.75% lower at RM7.86 today, for a market capitalisation of RM20.22 billion.
(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations)