PETALING JAYA: AMMB Holdings Bhd announced the appointment of Jamie Ling as its new group CEO, and CEO of AmBank (M) Bhd, succeeding Sulaiman Tahir effective Nov 23.
AMMB, which announced the changes in a bourse filing today, said Sulaiman reached the company’s retirement age of 60 in January this year after serving as its leader for eight years through some of its “most demanding challenges”.
“Datuk Sulaiman leaves behind a legacy of strategic growth, talent development and digital transformation, ultimately positioning AmBank as a competitive, award-winning financial institution, serving a wide-ranging clientele,” AMMB chairman Nor Yusof said in a statement today.
He was appointed to the role on Nov 23, 2015, taking over from Ashok Ramamurthy. Prior to that, he was CEO of CIMB Bank Bhd.
Ironically, Sulaiman joined AMMB the same day the group was hit with a RM53.7 million penalty imposed by Bank Negara Malaysia for compliance breaches relating to dealings with the scandal-plagued 1Malaysia Development Bhd (1MDB) and its subsidiaries.
A certified accountant, Ling, 55, held the role of group chief financial officer (CFO) from 2017, overseeing AmBank Group’s financial activities including the development and execution of its financial strategy.
Prior to that, he was the regional CFO at Standard Chartered Bank, overseeing Greater China and Northeast Asia, which encompassed Hong Kong, Taiwan, China, South Korea, and Japan.
He also served as a board member for Standard Chartered (Hong Kong) Ltd and Hong Kong Note Printing Ltd.
“Jamie’s in-depth commercial and financial experience covers key roles held in treasury, finance, risk management and sales in international banking institutions,” said AMMB.
“His comprehensive career portfolio transcends corporate, investment and retail banking, treasury, risk management and financial management,” it added.
AmBank Group is Malaysia’s sixth-largest banking group by assets. Its primary focus encompasses retail banking, wholesale banking, Islamic banking, as well as life and general insurance services.
AMMB’s share price rose three sen or 0.78% to RM3.90, valuing the company at RM12.93 billion. - FMT
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