KUALA LUMPUR (June 6): Malayan Banking Bhd (Maybank) has appointed group global banking head Datuk Amirul Feisal Wan Zahir as group chief financial officer (CFO).

Current group chief financial officer Datuk Mohamad Rafique Merican will be appointed as Maybank Islamic chief executive officer (CEO), replacing Datuk Muzaffar Hisham who will take over the group global banking head position.

All appointments are effective July 1, Maybank said in a statement today.

Maybank group president and CEO officer Datuk Abdul Farid Alias said the rotation of portfolios are meant to address three objectives, the first of which is to strengthen and improve the new roles assumed by the leaders bringing new ideas and heightening energy.

"The second objective relates to the continuous development in leadership skills of the appointees which also applies to all Maybankers under their own personal development plans," he said.

"And the third is to strengthen Maybank Group's Leadership bench strength," he added.

Abdul Farid said the three appointees have been strong and valuable contributors to the transformation of the Maybank group and the moves will give them the opportunity to inject fresh perspectives into their new roles.

"This rotation will also enable them to broaden their skills, gain valuable experience and take up new challenges in their careers," he said.

Maybank said Muzaffar has 21 years of experience in the banking and financial service, with a track record that includes careers with Asian International Merchant Bankers Bhd in the corporate banking division, Amanah Merchant Bank Bhd and Amanah Short Deposits Bhd where he handled corporate debt and financing businesses from debt syndication to advising on private debt securities.

He was also involved in various debt and corporate restructuring exercises during the 1997 financial crisis.

Muzaffar was also involved in the investment banking business during his tenure at CIMB Investment Bank and HSBC Amanah. He was CIMB Islamic Bank Bhd's deputy CEO prior to joining Maybank in 2011.

Rafique, who joined Maybank in 2012, is also the President Commissionaire of PT Bank Maybank Syariah Indonesia. He has more than 20 years of experience in the corporate sector including serving as CFO of Tenaga Nasional Bhd and Malakoff Bhd.

Amirul started his career in auditing firm KPMG Plc, London and later served with Citigroup Global Markets in the Kuala Lumpur, Singapore and Hong Kong offices until 2004.

In 2008, he was appointed as managing director, head of investment banking for Maybank Investment Bank responsible for the investment banking, corporate finance, equity capital markets and private equity divisions.

In 2010, he joined Permodalan Nasional Bhd as executive vice president of special projects.

He later rejoined Maybank in 2014 as group head, global banking.