KUALA LUMPUR (Oct 23): Datuk Muhamad Umar Swift, the former head of Malaysia’s stock exchange, will join Hong Leong Investment Bank Bhd as its managing director and chief executive officer.

The appointment is effective Jan 1, 2027, according to a statement from the parent company Hong Leong Capital Bhd (KL:HLCAP) on Friday. Muhamad Umar will succeed Lee Jim Leng who is retiring after more than 17 years with the investment bank.

“His understanding of Malaysia’s capital markets and experience in leading financial institutions will be valuable,” Hong Leong Capital chairman Tan Kong Khoon said as he thanked Lee for her service.

Trained as an accountant, Muhamad Umar has more than 25 years of experience in the areas of banking and financial services. Before the latest appointment, he was the chief executive of Qualitas Medical Group, leading its regional operations across Malaysia, Singapore and Australia.

Muhamad Umar was at the helm of Bursa Malaysia Bhd (KL:BURSA) from 2019 to 2025. His stint includes at insurers MAA Group Bhd (KL:MAA) and Malaysian Assurance Alliance Bhd, now known as Zurich Life Insurance Malaysia Bhd.

Lee, meanwhile, is retiring after strengthening Hong Leong Investment Bank’s standing across capital markets, brokerage, and advisory sectors.

“We wish her a very well-deserved, happy, and fulfilling retirement,” Tan added.

Shares of Hong Leong Capital were unchanged at RM2.92 ahead of the announcement on Friday, giving the company a market capitalisation of RM721 million.