KUALA LUMPUR: Malaysian Rating Corporation Bhd (MARC) has appointed Arshad Mohamed Ismail as group chief executive officer, effective June 1.
Arshad succeeds Datuk Jamaludin Nasir, who will take on an advisory role until the end of his term this coming November.
Prior to this appointment, Arshad was president and chief executive officer of Export-Import Bank of Malaysia Bhd (EXIM Bank).
He held various leadership and management roles at Bank Pembangunan Malaysia Bhd, Maybank Islamic Bhd, International Islamic Liquidity Management Corporation (IILM), Abu Dhabi's Al Hilal Bank, Saudi Arabia's Aayan Capital, and HSBC Amanah in the United Arab Emirates, among others.
"We would like to congratulate Arshad on his new appointment and look forward to his stewardship in bringing the MARC group to even greater heights," MARC chairman Tan Sri Dr Nik Norzrul Thani Nik Hassan Thani said speaking on behalf of the board of directors.
"At the same time, we would also like to thank Datuk Jamaludin Nasir for his strong leadership and invaluable contributions to the growth and expansion of the company," he added.
Jamaludin served on MARC's Rating Committee before assuming the role as MARC's group chief executive officer in 2019.
He was instrumental in MARC's transformation journey, having initiated the company's rebranding exercise and numerous strategic initiatives that the MARC group is now embarking on, locally and overseas.
Jamludin played a significant role in the reorganisation of the group and its business approach to the market, as well as the strengthening of the ratings quality profile of MARC Ratings Bhd, having been in the Rating Committee since 2014. Jamaludin was also a driver of the development and growth of MARC Data Sdn Bhd.
