Maybank announces departure of CFO after internal inquiry ...

KUALA LUMPUR (Feb 17): Malayan Banking Bhd (KL:MAYBANK), Malaysia's largest banking group by asset size, announced the departure of its group chief financial officer (CFO) Khalijah Ismail with immediate effect, following an internal inquiry.

However, Khalijah, who has worked at Maybank for more than 33 years, said in a statement that while Maybank's bourse filing frames her departure as a result of an internal inquiry, she claims that it is a termination.

The senior executive said she will take legal action against “the bank’s decision and protect her reputation”.

In a bourse filing, Maybank did not disclose details of the aforementioned internal inquiry, which led to Khalijah’s departure.

Khalijah was appointed as Maybank’s group CFO back in October 2021, after serving as acting group CFO since June that same year.  

“I strongly disagree with the bank’s decision. No specific reasons were given for my termination, other than a claim that the bank has lost trust and confidence in me,” Khalijah said.

“I categorically deny any wrongdoing,” she commented in the statement.

Meanwhile, Maybank said it has commenced the process to identify a new group CFO.

"The board will make the necessary announcement once the new group CFO is appointed. In the interim, Malique Firdauz Ahmad Sidique will assume the position of acting group CFO, with effect from Feb 17, 2025," it said.

Malique has served as Maybank Islamic’s CFO since Oct 1, 2018. In January 2022, he also assumed the role of Maybank group chief financial controller.

Shares in Maybank ended unchanged at RM10.56, valuing the bank at RM127.43 billion.