KUALA LUMPUR: Maybank Investment Bank Bhd (Maybank IB) is hiring Maestro Capital Sdn Bhd’s founder Fad’l Mohamed as its deputy chief executive officer (CEO), sources said. 

“Fad’l will be starting his new role as early as the beginning of March,” said sources. 

With Fad’l set to join Maybank IB, sources say Maestro Capital has recently submitted back its corporate finance licence to the Securities Commission Malaysia (SC), while a majority of his team in the corporate finance advisory outfit will also be joining Maybank IB. 

Fad’l’s prime responsibility is to focus on the Malaysian business, said a source. Meanwhile, John Chong, CEO of Maybank Kim Eng Group and Maybank IB, oversees Malaysia as well as the region. 

Fad’l founded Maestro Capital in 2004. The firm specialises in providing corporate finance advisory services primarily in the areas of mergers and acquisitions and fundraising. 

According to his profile on Maestro’s website, Fad’l holds an honours degree in law from the University of London and a certified diploma in accounting and finance (Association of Chartered Certified Accountants). He is also a qualified and licensed capital market services representative since 2004. 

Fad’l started his career as a lawyer with Rashid & Lee from 1991 to 1993. He then worked in the SC and Dresdner Kleinwort Benson prior to venturing out on his own to provide corporate advisory services. 

He is currently a director of the Kuala Lumpur Business Club and had also served as a director on the board of CIMB-Principal Asset Management Bhd. 

Maybank IB has evolved over the years, with its near RM4.3 billion acquisition of Singapore-based Kim Eng Securities in mid-2011 

having significantly strengthened the group’s overseas foothold. 

Prior to the acquisition, Maybank IB had a one-country business model, although it already had a regional presence. With the acquisition of Kim Eng, Maybank IB (or Maybank Kim Eng outside Malaysia) is now operating in 10 countries: Malaysia, Singapore, Thailand, the Philippines, Indonesia, Vietnam, China (Hong Kong), India (Mumbai), the United Kingdom (London) and the United States (New York).

“So, we have the reach we need for international transactions. It has been fantastic and very exciting, and opened up a lot of opportunities for us. We have a very strong franchise in Thailand — Kim Eng has been the No 1 stockbroking company there for the past 13 years,” Chong shared with The Edge in an exclusive interview in October last year.

“If you look at Asean, we have the largest equity franchise now in terms of trade value … this is as at the end of 2013,” he added.

The operating landscape for the investment banking industry has been tough of late. Investment banks are seeing deal pipelines drying up and earnings squeezed. Maybank IB is no exception. For its nine months ended Sept 30, 2014, the investment banking business of Maybank saw its profit before tax fall 16.2% year-on-year to RM214.5 million.

This article first appeared in The Edge Financial Daily, on February 26, 2015.