THE EDGE MARKETS – Bank Pembangunan appoints former Khazanah ED Roni Wahab as group CEO

8 April 2022

KUALA LUMPUR (April 7): Bank Pembangunan Malaysia Bhd (BPMB) has appointed former Khazanah Nasional Bhd executive director of investments Roni Lihawa Abdul Wahab as its new group chief executive officer (CEO), effective Friday (April 8).

He is succeeding Arshad Mohamed Ismail, who is leaving the group on Thursday after having served the bank for three years, the development financial institution (DFI) said in a statement.

The appointment confirms a report by The Edge Malaysia in January that BPMB could have a new CEO as Arshad, who was appointed to helm BPMB in April 2019, could be coming to the end of his three-year term and might be looking to leave the Minister of Finance Inc-owned DFI.

According to BPMB, Roni has held senior leadership roles in the banking, investment management and corporate sectors. Prior to his stint at Khazanah, Roni was HSBC Bank Malaysia Bhd's managing director and country head of global banking. Most recently, he was an independent board member of Maybank Asset Management Group Bhd and the chairman of Maybank Islamic Asset Management Sdn Bhd, it said.

In the same statement, BPMB chairman Tan Sri Nazir Razak welcomed Roni's appointment and said the latter's leadership experience in banking and strategic national development will be an asset to the group as it continues on its nation-building journey to support Malaysia’s economic development.

“This appointment brings new perspectives and strengths to the group and with the support of the senior leadership team, I am confident that Roni will be able to take the BPMB group to new heights.

"I would like to thank Arshad for his leadership and contributions throughout his tenure since 2019, especially for bringing calm and stability to the group after a difficult period for the bank. We wish him all the best in his future endeavours,” Nazir added.

On his appointment, Roni said he is grateful for the opportunity given to him and looks forward to working closely with the team at BPMB.