HRD Corp said Syed Alwi, 51, brings over 27 years of leadership experience in financial services, banking technology, and management consultancy.

“He has consistently driven organisational growth, scaled financial institutions and introduced innovative, future-focused solutions that align financial strategy with long-term business objectives to deliver sustainable impact,” it said in a statement.

Syed Alwi previously served as president and CEO of Agrobank and managing director of BNP Paribas Malaysia Bhd (Islamic Banking).

He has also held senior leadership roles at prominent global and regional institutions including Standard Chartered Saadiq, Islamic Bank of Asia (Singapore), HL Bank (Singapore), and MRANTI Corporation.

Shahul, who led HRD Corp for five years, is credited with modernising the one-stop employment and skills development centre.

In 2024, he led HRD Corp to an all-time high income of RM434.2 million, recording a surplus before tax of RM127 million. Assets under the corporation’s management also grew to RM4 billion.

Shahul’s tenure as CEO was largely controversy-free although he suffered a setback when the Malaysian Anti-Corruption Commission (MACC) initiated a probe into HRD Corp last year.

The investigation, which arose from issues outlined in the 2024 auditor-general’s report, saw Shahul taking a voluntary leave of absence in July last year.

MACC later cleared the agency’s management of wrongdoing and Shahul returned to work.