Foong is Maybank’s International CEO
KUALA LUMPUR: Malayan Banking Bhd (Maybank) yesterday announced the appointment of Michael Foong Seong Yew as chief executive officer (CEO) of international business, effective June 1.
He takes over from Pollie Sim, who retired from Maybank on the same day, and this will be in addition to his role as group chief strategy officer.
Foong joined the group as chief strategy and transformation officer in 2011, and was appointed group chief strategy officer in 2014.
“As an expert in strategy development and business transformation, Foong has made contributions to International when he oversaw, with group president and CEO (Datuk Abdul Farid Alias), the transformation programmes for Maybank Hong Kong, Maybank Philippines and Maybank Cambodia from 2014,” said Maybank in a statement.
Prior to joining Maybank, Foong was the senior managing director of Accenture’s management consulting practice in Malaysia.
Farid said Foong was the ideal candidate to take on the expanded role as International CEO to help achieve the group’s ambitious growth plans for its international operations.
“Given that the group targets to grow its International business at a more aggressive pace, Foong’s background, diverse skill-sets and wide experience in strategy development will be a pivotal advantage in leveraging the group’s regional footprint and charting the path for further growths in our international markets.”
Meanwhile, Sim had served Maybank for over three decades, holding many senior positions within the group.
Prior to her appointment as CEO of International in October 2013, Pollie was the CEO of Maybank Singapore from 2006, where she was instrumental in leading and developing Maybank’s retail banking business there.
“During her tenure as CEO of Maybank Singapore, she led in building its consumer franchise from less than 20 per cent to 50 per cent of the loans book and its structured trade and wealth business for a more diversified fee income, resulting in the bank achieving record level profits,” said Farid.