He replaces Mak Joon Nien, who will pursue an external opportunity, Bernama reported.

The bank said Mushahid will take on the role in addition to his current position as chief financial officer in Malaysia.

“An announcement on the permanent successor will follow in due course,” it said in a statement.

Standard Chartered said Mushahid has over 20 years of leadership experience in driving balance sheet optimisation, cost and capital efficiency, and revenue uplift.

He joined Standard Chartered in 2013 and has been a core member of the country management team and executive committee since assuming the CFO Malaysia role in 2024, helping to drive business performance and strategy.

Standard Chartered said Mak will step down from his position after nearly 30 years with the bank.

“Mak will also step down from the boards of Standard Chartered Malaysia Bhd and Standard Chartered Saadiq Bhd, as well as his other board roles across Standard Chartered affiliated entities,” it said.

The bank said Mak joined Standard Chartered in 1997 as a graduate trainee in Malaysia, spent 15 years in a regional role in Singapore, then returned to Malaysia and later became the bank’s first homegrown Malaysian CEO.

“For the past four years, he has significantly enhanced the profile of the franchise, and strengthened key client and stakeholder relationships,” it said.