KUALA LUMPUR, April 22 — Bank Pembangunan Malaysia Bhd (BPMB) has appointed Datuk Seri Nazir Razak as its new non-executive chairman effective immediately, succeeding Datuk Zaiton Mohd Hassan who retired in February 2021 after serving for two years.

In a statement today, BPMB said Nazir is the founding partner and chairman of Ikhlas Capital, an ASEAN private equity firm, and has extensive banking experience having served as CIMB Group Holdings Bhd’s chairman for four years and group chief executive officer (GCEO) for 15 years prior to that.

It said Nazir also served as the non-executive director of Khazanah Nasional Bhd for four years and was a member of the Employees Provident Fund investment panel for 15 years.

“I am delighted to welcome Nazir to BPMB. The breadth and depth of his banking and finance experience will be a significant asset to BPMB as we continue on our nation-building journey. I look forward to working with him,” president/GCEO Arshad Mohamed Ismail said.

Commenting on his appointment, Nazir said he is grateful to be given the opportunity to serve a government institution such as BPMB, a key development finance institution tasked to support companies and projects that promote socio-economic growth, and bring to bear his years of experience in the financial sector.


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