Malaysia Building Society Bhd (MBSB) has announced the appointment of Shahnaz Farouque Jammal Ahmad as its new Group Chief Financial Officer (GCFO), effective June 1. Shahnaz Farouque possesses over two decades of banking experience, having held high-level positions including CEO of group wholesale banking and CFO of CIMB Group, as well as recently the role of group CFO at TIME Dotcom Bhd. In his career, he has covered aspects such as M&A advisory, risk advisory, trading, risk management, corporate and investment banking, and finance. Shahnaz’s arrival at MBSB is expected to drive the financial strategy of the group, maximizing returns across its diverse portfolio. He is also anticipated to focus on enhancing the group’s profitability, with particular attention on increasing the CASA ratio to reduce funding costs. Shahnaz replaces Ramanathan Rajoo, who takes on the role of special advisor.

Banking & Financial Services, Mergers & Acquisitions,Malaysia