Monday, November 3, 2008

Musa replaces Yakub at HSBC Amanah Msia

HSBC Amanah Malaysia Bhd, a wholly owned subsidiary of HSBC Bank Malaysia Bhd, announced today the appointment of Musa Abdul Malek (right) as its new chief executive officer to replace Yakub Bobat.
Musa will be responsible for the development of HSBC Amanah Malaysia, the first Islamic subsidiary of a locally incorporated foreign bank to commence operations in August 2008, it said in a statement.
He will oversee all aspects of HSBC Amanah's business in Malaysia, including retail and commercial banking, wealth management, capital market and the promotion of international currency business unit (ICBU) business.
Musa will also take on the responsibility of developing and making Malaysia the Islamic hub for the HSBC Group in the Asia Pacific region, it added.
Musa, who was earlier the deputy CEO, has was appointed as its acting CEO since Yakyub's recent departure to an Islamic bank in the Middle East.
HSBC Amanah Malaysia obtained its subsidiary status from Bank Negara Malaysia (BNM) during Yakub's stint.
A Business Administration graduate from Ohio University, U.S.A, Musa joined HSBC 29 years ago. During the span of his career he has been in various capacities covering business areas such as branch management, credit management, corporate relationship management, business development, debt origination of debt capital market in Hong Kong and product development and management.

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