KUALA LUMPUR, Dec 6 — HSBC Bank Malaysia Bhd has appointed Datuk Kamaruddin Taib as its chairman, effective April 1, 2022 to replace Tan Sri Krishnan Tan Boon Seng, who will retire from the board on the same day.

Currently, Krishnan is also an independent non-executive director of HSBC Bank Malaysia.

HSBC said Kamaruddin, who is presently the independent non-executive chairperson of HSBC Amanah, would resign from the board of HSBC Amanah and join the board of HSBC Bank Malaysia as independent non-executive director on Jan 1, 2022.

"He will thereafter be appointed as chairperson of HSBC Bank Malaysia’s board of directors on April 1, 2022,” it said in a statement today.

Commenting on Kamaruddin’s appointment, Krishnan said Kamaruddin’s wealth of experience would enable HSBC Bank Malaysia to further strengthen its corporate and retail banking capabilities, accelerate investments in innovation and technology while focusing on the sustainable growth of the business in the country.

Meanwhile, the statement said HSBC Amanah Malaysia Bhd also appointed Datin Che Teh Ija Mohd Jalil as chairperson of its board of directors, effective Jan 1, 2022.

Following the new appointment, Krishnan said Teh would lead the board and guide the bank’s Islamic subsidiary to accelerate the growth of the Islamic business in the country.

"Her in-depth understanding of the country’s financial landscape will be fundamental to enabling HSBC Amanah to achieve its ambition of having 51 per cent of its financing assets comply with the Triple Bottom Line principles for the prosperity of the people and the planet,” he said. — Bernama