KUALA LUMPUR (Dec 31): MBSB Bhd (KL:MBSB) has appointed Datuk Seri Diraja Nur Julie Gwee Ariff as chief executive officer of its subsidiary MIDF Amanah Investment Bank Bhd, effective Jan 1, 2025.

The appointment of Nur Julie, currently deputy CEO of MIDF Amanah, will strengthen the bank and unlock new growth opportunities, MBSB said in a statement. She replaces Datuk Dominic Silva, who stepped down in October after nearly six years serving the investment bank.

“Her proven track record has been instrumental in the Bank’s success,” said MIDF Amanah chairman Datuk Mohd Nasir Ali. “Under her guidance, the bank is well-positioned to capitalise on new opportunities and strengthen its leadership in this space.”

Silva resigned after leading the merger between MBSB and MIDF to a close in October 2023. The acquisition of Malaysian Industrial Development Finance Bhd from Permodalan Nasional Bhd (PNB) is worth RM1.01 billion through a new share issuance at 96.52 sen per share.

Nur Julie, meanwhile, joined MIDF Amanah Investment Bank in 2012 as director in corporate advisory and structuring, and served as head of debt markets. Before joining MIDF, she held senior roles at other investment banks and had served at other securities firms advising corporate finance.

“Under her leadership, we aim to harness synergies across MBSB to deliver integrated client focused solutions,” said Kuldeep Singh, head of wholesale banking at MBSB.

Shares of MBSB have erased nearly all of its gain this year, underperforming strong gains of peers in the financial services industry as the company struggled with competition due to its relatively smaller size while digesting the acquisition of MIDF.

On Tuesday, the stock rose half a sen or 0.68% to 74 sen, giving the company a market capitalisation of RM6.09 billion.

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