Ranjit to retire as Securities Commission chairman on Oct 15
Ranjit retiring on October 15 after serving regulator for 25 years
THE Prime Minister’s Office (PMO) yesterday announced the appointment of Datuk Syed Zaid Albar as executive chairman of the Securities Commission (SC), effective October 15.
The PMO said in a statement Syed
Zaid’s expertise encompasses various sectors such as corporate law, capital market, sukuk and Islamic and conventional banking.
Syed Zaid has more than 38 years of experience in legal practice and was a member of the compensation fund inquiry panel and appeals committee in Bursa Malaysia.
He was also a member of the Islamic banking law review committee in Bank Negara Malaysia, said the statement.
He graduated with a Bachelor of Arts (Honours) degree in Law in the United Kingdom and was admitted as an Utter Barrister of the Honourable Society of Lincoln’s Inn, London in 1979.
A year later, he became an advocate and solicitor of the High Court of Malaya.
Syed Zaid also served in Skrine & Co and formed his own law firm, Albar & Partners.
The SC also announced the retirement of Tan Sri Ranjit Ajit Singh as chairman effective October 15. He has served the commission for 25 years and was chairman for the last six years.
“The SC and its board of commissioners would like to thank Ranjit for his contributions towards the development of the Malaysian capital market and for his leadership,” it said.
Ranjit said in a note to SC staff that strengthening the organisation on the SC 2020 future-ready regulator initiative has led to significant enhancements and capabilities.
“It has also led to introduction of several new streams of work in the SC aligned with where we see markets developing and areas to address risks to the integrity and systemic stability of the capital market.
“I am pleased that we have been able to establish in Malaysia the Asia-Pacific hub for the global regulatory body. Our efforts in driving sustainable finance and our digital markets strategy introduced over the recent few years have enabled new opportunities for growth in the capital market.”
Ranjit urged the SC to continue supporting the future leadership of the organisation.
“I am looking forward to spending some time with my family, taking a break and being able to pursue other interests.”