KUALA LUMPUR (April 29): AMMB Holdings Bhd (AmBank) announced on Friday (April 29) the appointment of Tan Sri Md Nor Yusof as its new chairman, confirming a report by The Edge Malaysia weekly that was published on April 25.

The appointment of Md Nor follows the retirement of Tan Sri Azman Hashim as non-independent non-executive chairman of AmBank on Friday.

Md Nor has had an illustrious career with over 40 years of senior management and board level experience, including extensive expertise in the financial services sector, AmBank said in a statement.

As chief executive officer and chairman, Md Nor helmed the Bank of Commerce Group from 1982 to 2000.

He has also held the role of executive chairman of the Securities Commission Malaysia, chairman of CIMB Group Holdings Bhd, chairman of Malaysia Airlines Bhd, director and chairman of Khazanah Nasional Bhd’s executive committee, as well as chairman of Lembaga Tabung Haji, amongst many other distinguished roles.

Md Nor was most recently chairman of CIMB Foundation from 2016 to 2022. He continues to hold the role of chairman of Yayasan Hasanah.

He holds a Bachelor degree in commerce from the University of Otago, New Zealand and is a qualified chartered accountant. He is also an alumnus of the Wharton School Advanced Management Program.

“I am pleased to pass the baton to Md Nor. I have full confidence that with his substantial experience, wide breadth of expertise as well as proven track record of success, AmBank will continue to grow stronger under his leadership.

“Given my many years of knowing him personally, I am confident that he will be able to guide the board and the senior management team to ensure that AmBank remains a formidable banking and financial institution in Malaysia,” said Azman, who is the chairman emeritus/honorary adviser of AmBank.

Md Nor highlighted that it is a privilege to take on the chairmanship of AmBank.

“Azman is leaving behind big shoes to fill. Building on the success that Azman has achieved over these many decades, it is a personal honour for me to be considered to continue his legacy. I look forward to working with the board and the management team to continue to grow the group’s prospects.”

AmBank closed one sen or 0.27% lower at RM3.69, valuing the group at RM11.96 billion. Year to date, the counter has risen 15.31%.