In a statement today, the firm said he would be returning as chairman effective Nov 1.

It said it looked forward to the insight he would bring to the role particularly with regard to environmental, social and governance issues, citing Zaid’s “deep understanding of societal and human rights”.

On his return, Zaid said: “I am delighted to be back and (to) work together with the younger partners. Zaid Ibrahim & Co will continue to grow with dynamism and transparent leadership that Nik, Gilbert and I hope to offer.”

Nik Norzul Thani will continue on as deputy chairman, with Gilbert Gan to remain managing partner.

Gilbert said he looked forward to “working together again with my old friend to help steer the firm successfully through these unprecedented times”.

“In these times, having old hands on deck with long experience and insight will strengthen our capability to better advise our clients,“ he said.

Zaid served as the MP for Kota Bharu from 2004-2008, before being appointed a minister in the cabinet of then prime minister Abdullah Badawi.