KUALA LUMPUR (Nov 11): A leadership transition is underway at AMMB Holdings Bhd (AmBank Group). Group chief executive officer Datuk Sulaiman Mohd Tahir is leaving the country’s sixth largest banking group by assets after eight years at the helm, and will be succeeded by Jamie Ling — the chief financial officer — on Nov 23.

It must be somewhat of a sweet relief for Sulaiman, 60, to be retiring after years of having been in “firefighting” mode — right from Day 1 on the job — owing to the group’s historical dealings with scandal-ridden 1Malaysia Development Bhd (1MDB) and related entities.

While other bank CEOs had had their hands full over the years navigating the complexities of competition, higher capital requirements, digital disruption and the Covid-19 pandemic, Sulaiman had the 1MDB albatross to deal with on top of all that.

“No other bank has gone through what AmBank Group has gone through, that is for sure. To be able to come out of all that [adversity], to be able to put it on a clean platform, and today, to have it alive and kicking, growing, ready to chart whatever path it wants — is the biggest achievement for me.

“It’s like bringing up a child and, at the same time, you grow up,” he tells The Edge in an interview.

Battle-worn, but visibly more at ease than in any of his past interviews with The Edge, Sulaiman talks about the bank’s past challenges, its strong comeback, and also provides some insight into its next four-year strategic plan that will start running from April 1 next year.

Despite AmBank Group having its own growth plans, a big question on the minds of investors is whether there could be shareholding changes and a bank merger in store for the group. The question often pops up because its single-largest shareholder, Australia and New Zealand Banking Group Ltd, which has a 21.66% stake, has over the last few years made known the fact that it is looking to exit, while stressing that it would hold out for a good offer.

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