KUALA LUMPUR (Feb 18): Bank Pembangunan Malaysia Bhd (BPMB) has appointed Datuk Zaiton Mohd Hassan as independent non-executive chairman of the group effective immediately, for two years.

This confirms a report by The Edge Malaysia Weekly on Feb 4 that changes are afoot at the bank, including the appointment of Zaiton as chairperson.

In a statement today, BPMB said Zaiton's appointment follows an approval from the Ministry of Finance.

She succeeds Tan Sri Dr Wan Abdul Aziz Wan Abdullah, who retired in November last year. She is BPMB’s 11th chairman since its establishment 45 years ago.

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

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

Zaiton brings 40 years of banking and finance experience, including 12 years in Malayan Banking Bhd, in various senior positions, including heading treasury, international operations, branch operations and group strategic planning and 13 years on the Board of Bank Islam (M) Bhd.

She set up rating agency Malaysian Rating Corp Bhd in 1996 and was its president and executive director until 2004.

She was appointed to the board of Lembaga Tabung Haji in July last year, and is chairman of the board's risk audit and governance committee.

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.

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