Malaysia's Maybank names new chief for Indonesian unit


(Adds company comments, details on approvals)

KUALA LUMPUR, Sept 30 (Reuters) - Malayan Banking Bhd(Maybank), Malaysia's biggest bank by assets, hasappointed Taswin Zakaria to head its Indonesian unit as it seeksto maintain its growth momentum in the largest economy inSoutheast Asia.

Indonesia has been Maybank's second-largest earningscontributor, making up 7 percent of Maybank's total profitbefore tax in 2013, up from 5.2 percent a year earlier. In thesame year, Bank Internasional Indonesia's (BII) netprofit jumped 81 percent year-on-year.

Taswin, a seasoned Indonesian investment banker who servedas PT Indonesia Infrastructure Finance's chief between 2010 and2011, will take on the role as BII's president director.

"We have investment banking and asset management businessesin Indonesia and we anticipate Bapak Taswin's in-countryleadership will not only propel BII to new heights but alsoenable synergistic opportunities there for the Maybank group tobe realised faster," Abdul Farid Alias, Maybank's group chief,said in a statement on Monday.

Taswin replaces Khairussaleh Ramli, whom banking sourcessaid is set to join Malaysia's RHB Capital Bhd asdeputy CEO. Taswin, 45, has served as anindependent member of the board of commissioners of BII since2004. He worked in number of banks such as Barclays Bank Plc andDeutsche Bank AG before joining BII.

Maybank lost two of its top executives - Khairussaleh andTengku Zafrul - after they lost out to Abdul Farid for the CEOjob. Tengku Zafrul, who had been at Maybank for three years asinvestment banking head, had resigned to take on newopportunities, the lender announced on Sept. 24.

Local media said Tengku Zafrul, who led Maybank's $1.4billion purchase of Singaporean brokerage Kim Eng Holdings Ltdin 2011, would be taking the deputy CEO post at rival CIMB GroupHoldings.

Taswin's appointment is subject to approvals from Indonesianauthorities and Maybank's shareholders.

(Reporting By Yantoultra Ngui; Editing by Matt Driskill)

View Comments (1)