KUALA LUMPUR (March 28): Malayan Banking Bhd (Maybank) has appointed Datuk Mohaiyani Shamsudin as chairman of Maybank Investment Bank, and Datuk R. Karunakaran as chairman of and Etiqa Insurance Bhd (EIB) and Etiqa Takaful Bhd (ETB).

Maybank chairman Tan Sri Megat Zaharuddin Megat Mohd Nor said the appointments, effective March 1, are part of the group’s continuous efforts to maximise leverage of its boardroom diversity by tapping on the skills of talented individuals.

“Their diverse backgrounds and further deep understanding of our businesses, having been with us for a few years, will be invaluable, as we continue as a board to guide and support management to create value for stakeholders.

“At the same time, the appointments are a clear demonstration of our commitment to Maybank group’s inclusiveness and diversity agenda, which also sees the selection of the first female chairman of a major Maybank group subsidiary,” he said in a statement today.

Mohaiyani takes over as Maybank Investment Bank chief from Megat Zaharuddin, who has now assumed the chairmanship of Maybank Ageas Holdings Bhd.

Maybank Ageas is the holding company for the group’s insurance business under the Etiqa brand that includes EIB and ETB.

Mohaiyani, who was named as Maybank Kim Eng Holdings Ltd chairman on Jan 1, also chairs Maybank Asset Management Group Berhad and Maybank Asset Management Sdn Bhd.

She has extensive experience in financial services where she has, among others, served as chairman of the Association of Stockbroking Companies Malaysia, and deputy chairman of the Kuala Lumpur Stock Exchange (now Bursa Malaysia).

Karunakaran sits on the Boards of Maybank (Cambodia) Plc, Maybank Ageas Holdings Bhd, Maybank Asset Management Group Bhd, Maybank Asset Management Sdn Bhd and Maybank Agro Fund Sdn Bhd.

Currently a director of Bursa Malaysia Berhad, IOI Corporation Bhd and Integrated Logistics Bhd, he once served as the Malaysian Investment Development Authority (Mida) director-general.

At the midday break, Maybank shares were down 0.45% or four sen at RM8.85, with 2.05 million shares done, for a market capitalisation of RM86.58 billion.