(Reuters) – Bursa Malaysia has appointed Fad’l Mohamed as its new chief executive, replacing Muhamad Umar, the operator of the country’s bourse said on Monday.
Fad’l is currently the managing director of RHB Bank’s group wholesale banking unit and has experience as a CEO from his stint with Maybank Investment Bank.
Muhamad Umar, the chief executive since early 2019, has been with the exchange through the COVID-19 pandemic as well as when the bourse clocked a record equity capitalisation of 2 trillion ringgit ($457.46 billion).
He will retire this year for Fad’l to take charge from March 1.
Fad’l’s “understanding of capital markets and investment banking sets him in solid stead to lead the exchange into the future,” said Chairman Abdul Wahid Omar.
($1 = 4.3720 ringgit)
(Reporting by Sneha Kumar in Bengaluru; Editing by Mrigank Dhaniwala and Janane Venkatraman)
