Maybank in midst of identifying candidates to fill Maybank IB's CEO position

Malayan Banking Bhd is identifying possible candidates to replace Tengku Zafrul Tengku Aziz as Chief Executive Officer of Maybank Investment Bank following his resignation on September 24. Group Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor said the right candidate would be announced soon as they (possible candidates) were still in the process of being short listed. "We are still working towards choosing the most suitable person to develop the company to make sure that he fully understands the challenges ahead for Maybank IB," he told reporters after launching Cashville Kidz Season 2 and presenting prizes to winners of the National Financial Literacy Challenge 2013. Maybank IB is the investment banking arm of Malayan Banking Bhd, Malaysia's top financial services player. He said Maybank IB Deputy CEO and Head of Investment Banking and Advisory John Chong would assume the role as interim officer-in-charge of Maybank Investment and Maybank Kim Eng. "Although we have internal talents, we are not ruling out the possibility of having someone from outside the company (to fill the position)," said. Megat Zaharuddin said once the right candidate is identified, the bank would submit the name to Bank Negara for approval. "We will see how we can replace this talent as we move forward. We are confident of getting the right team through balancing internal talents with external recruitment as we have done in the past," he added. It was reported earlier that Tengku Zafrul will join the country's second largest lender, CIMB Group Holdings Bhd, as its Deputy Chief Executive Officer.