KUALA LUMPUR (June 30): Malaysia Building Society Bhd (MBSB) has redesignated Datuk Nor Azam M Taib as its group chief executive officer (CEO) effective July 1, it said in a Bursa Malaysia filing.

Nor Azam, 55, has served as acting CEO in the banking group since August 2021, following the passing of Datuk Seri Ahmad Zaini Othman due to Covid-19 complications.

Nor Azam’s promotion effectively ends MBSB’s search for a new CEO. In January this year, Nor Azam reportedly said the bank has identified “a few candidates” to lead the organisation.

Prior to this, Nor Azam was deputy CEO of the bank, a role he took up in January 2021. In its filing on Thursday (June 30), MBSB said he has more than 26 years of extensive experience in the banking and finance sector in the areas of auditing, structured lending, business banking and corporate business.

“Since joining MBSB in November 2010, Datuk Azam has been leading the Bank's Corporate Business Division and rose to be appointed as chief business officer (CBO) of MBSB Bank in April 2018 where he championed the overall strategic direction of the bank through the development of the Business Plan and its implementation phase.

“In this role, he enhanced business strategies of the bank, developing, guiding, motivating and directing the implementation of specific plans and programmes for the different types of banking and overall performance.

“He leads the team in overall management of sales strategies, maintaining effective relationships with regulatory, governmental, industry, financial and community groups so as to enhance financial performance and business effectiveness,” it said.

Shares in MBSB ended unchanged at 58 sen, giving it a market capitalisation of RM4.16 billion.