KUALA LUMPUR (March 2): Malayan Banking Bhd (Maybank) has named Datuk Mohaiyani Shamsudin as its new chairman, succeeding Tan Sri Megat Zaharuddin Megat Mohd Nor, who announced he will be stepping down at the end of this month.

In a statement today, Maybank said Megat Zaharuddin had served on its board of directors for about 12 years, with the last seven-and a-half years as chairman.

Mohaiyani is currently the chairman of Maybank Investment Bank Bhd, a position she has held since March 2016.

In a tribute to Megat Zaharuddin, Maybank group president and CEO Datuk Abdul Farid Alias said he was a visionary leader who constantly challenged the bank to scale greater heights, and successfully steered the group through some of the most challenging global economic situations.

Meanwhile, Farid said the appointment of Mohaiyani as chairman augurs well for Maybank and will ensure continuity at the board, given that she has been serving as a director of Maybank for over five years.

"Datuk Mohaiyani has had an impressive career and extensive experience not only in the financial services industry but also in public service. As a member of the current board, she will already have insights into all aspects of the group and we are confident she will lead Maybank effectively as she takes up the new position," he said.

Mohaiyani was appointed as a director of Maybank on Aug 22, 2011.

She also serves as a board committee member of the Credit Review Committee and Risk Management Committee.

She was with Amanah Chase Merchant Bank Bhd and Seagrott & Campbell Sdn Bhd before starting her own stockbroking company Mohaiyani Securities Sdn Bhd in 1985 and assumed the role of managing director.

During her active involvement in the stockbroking industry, she was appointed as deputy chairman of Kuala Lumpur Stock Exchange (now known as Bursa Malaysia Bhd) and chairman of Association of Stockbroking Companies Malaysia.

She had also been appointed as a member of several high level national working groups such as National Economic Action Council (NEAC), National Economic Consultative Council II (MAPENII), National Information Technology Council (NITC), Ministry of Finance High Level Finance Committee for Corporate Governance and National Advisory Council for Women, Ministry of Women, Family and Community Development.

Her current directorships in companies within the Maybank Group include as chairman of Maybank Investment Bank Bhd and Maybank Kim Eng Holdings Ltd. At present, she serves as a director of Capital Market Development Fund and Universiti Teknologi MARA (UiTM) as well as a member and trustee of National Heart Institute Foundation, NUR Foundation, Perdana Leadership Foundation and National Council of Women's Organisations Malaysia (NCWO).