Bank Pembangunan Malaysia Berhad (BPMB) announced Shaharuddin Zainuddin as its new President/Group CEO effective yesterday, replacing Mohammed Rafidz Ahmed Rasiddi.

With over 20 years of experience in international banking and finance, Shaharuddin joined the group’s board as an independent director earlier this year.

“We look forward to working with Shaharuddin in his new capacity and were are very confident in Shaharuddin’s leadership, passion and commitment to steer the group to greater heights and further enhance its role as a major development financial institution for the country and the region,” BPMB chairman Tan Sri Dr. Wan Abdul Aziz Wan Abdullah said in a statement yesterday.

In the last 4 years, Shaharuddin has been actively providing corporate finance advisory services for small and medium enterprises, and listed corporations in the oil and gas, transport, aviation, technology and telecommunication industries.