This article first appeared in The Edge Financial Daily on February 19, 2019

KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) has appointed Datuk Zaiton Mohd Hassan as an independent non-executive chairman of the group — for two years — effective immediately.

This confirms The Edge Malaysia weekly’s report on Feb 4 that changes are afoot at the bank including Zaiton’s appointment as chairperson.

In a statement yesterday, BPMB said Zaiton’s appointment follows an approval from the ministry of finance. She succeeds Tan Sri Dr Wan Abdul Aziz Wan Abdullah, retired in November last year. She is BPMB’s 11th chairman, since its establishment 45 years ago.

BPMB said Zaiton has an impressive executive career in the banking and accounting professions, with a strong track record in governance, risk and audit, in the private sector and public interest institutions.

“Her appointment will strengthen the bank’s corporate governance standards and bring a strong and steady leadership to help BPMB realise its full potential as a development financial institution,” it added.

Zaiton has 40 years of banking and finance experience, including 12 years working for Malayan Banking Bhd (Maybank) in senior positions such as heading the treasury, international as well as branch operations, and group strategic planning; and 13 years on the board of Bank Islam (M) Bhd.

In July last year, she was appointed to the board of Lembaga Tabung Haji. She is now the chairman of its board risk audit and governance committee as well.

Zaiton is also a fellow and council member of the Association of Chartered Certified Accountants, the UK; a member of the International Federation of Accountants’ professional accountants in business committee; and a member of the Malaysian Institute of Accountants and the Malaysian Institute of Certified Public Accountants.

The Edge had earlier reported that Afidah Mohd Ghazali, then chief financial officer, acting president and chief executive officer (CEO) of BPMB, was leaving the bank on Feb 4. It was also reported that Arshad Mohamed Ismail, head of corporate and investment banking at Maybank Islamic, could be brought in as CEO of BPMB.

BPMB had a combined asset value of RM24.5 billion as at Dec 31, 2018.