HSBC Bank Malaysia Bhd has announced the appointment Mukhtar Hussain as its new deputy chairman and CEO subject to regulatory and board approvals.
Mukhtar will succeed Irene M Dorner, who will embark on a new role as the president and CEO of HSBC Bank USA in early 2010.
Dorner has been in Malaysia since May 2007 and a key driver in the continued business success of HSBC Malaysia.
HSBC Malaysia said in a statement on Monday that Mukhtar has been with the HSBC Group since 1982. He has held a number of senior management positions both in London and the Middle East.
His recent roles have been as the global CEO of HSBC Amanah, the Islamic financial services division of HSBC and CEO of global banking and markets, Middle East and North Africa.
In his new position, Mukhtar will retain his dual role as global CEO of HSBC Amanah and, based in Kuala Lumpur, will continue to oversee the global expansion of this important business.
It is intended with this move that HSBC Group will continue to build an Islamic banking hub in Malaysia to reflect opportunities both domestically and internationally.
(This story appeared in The Malaysian Reserve on Oct 7, 2009. The Malaysian Reserve is a daily business/finance newspaper published out of Kuala Lumpur, with a sectoral page on Islamic finance on Mondays, edited by Habhajan Singh)
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