Syed Zaid Albar resigns as SC executive chairman

Syed Zaid Albar resigns as SC executive chairman

The finance ministry has appointed Awang Adek Hussin to succeed him from June 1.

Syed Zaid Albar has been executive chairman of the Securities Commission Malaysia since Nov 1, 2018. (Bernama pic)
PETALING JAYA:
Syed Zaid Albar has tendered his resignation as the executive chairman of the Securities Commission Malaysia (SC), the finance ministry said today.

His last day on the job will be on May 31.

He was first appointed to the post on Nov 1, 2018.

In a statement, the ministry said it has appointed Awang Adek Hussin to serve as the next SC executive chairman from June 1 to May 31, 2025.

It said Awang Adek, who has a doctorate in economics from the University of Pennsylvania in the US, has vast experience in the capital market and Islamic finance.

He was the deputy finance minister from 2006 to 2013 and has experience serving as an assistant governor at Bank Negara Malaysia and the chairman of Tenaga Nasional Bhd. He is also a former ambassador to the US.

An Umno member, Awang Adek was also the chairman of Majlis Amanah Rakyat (Mara) before GE14, having been appointed in September 2017 and resigning prior to the general election.

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