KUALA LUMPUR (July 31): RHB Bank Bhd (KL:RHBBANK) announced on Wednesday the appointment of Mohamed Rastam Shahrom as its new group chief financial officer, effective from Thursday (Aug 1).

This confirms The Edge Malaysia’s report for the week of June 17-23, citing sources, that Mohamed Rastam was leaving Malaysia's airport operator to join the country’s fourth-largest lender by assets.

Mohamed Rastam was formerly the acting group chief executive officer and CFO of Malaysia Airports Holdings Bhd (KL:AIRPORT) or MAHB.

Earlier, MAHB had announced that Mohamed Rastam would be stepping down from both positions “to pursue a new career opportunity”.

Mohamed Rastam holds a Bachelor of Science in Accounting and Finance from the University of Wales, Aberystwyth, the UK. He is also a fellow of the Association of Chartered Certified Accountants (ACCA) and a member of the Malaysian Institute of Accountants.

In a statement, RHB said Mohamed Rastam brings extensive experience to the bank, having served as the acting group CEO and CFO of MAHB, and CFO at UEM Sunrise Bhd (KL:UEMS). His expertise spans finance, strategy, and business development.

“We are delighted to welcome Mohamed Rastam to RHB Banking Group. With over 20 years of experience in business and finance, and a proven track record in financial management and strategic leadership, he will strengthen our senior leadership team,” said RHB Banking Group managing director and group CEO Mohd Rashid Mohamad.

“His expertise will be instrumental to achieving our strategic goals and driving our financial strategy towards further enhancing shareholder value,” Mohd Rashid added.

Additionally, the banking group appointed Phuah Shok Cheng as its new regional CFO and head of capital strategy, Kevin Vijendren Davies as the managing director and CEO of RHB Investment Bank Bhd, and Tan Boon Ching as the group chief internal auditor.

Phuah, who has been the acting group CFO since January this year, will now focus on regional financial performance and capital strategy.

Kevin Vijendren succeeds Ganesh Sabaratnam, whose contract ended on June 30. Kevin Vijendren will guide the bank's strategic direction and lead the expansion of diverse investment solutions to provide exceptional value to clients.

Meanwhile, Tan will take over from Alex Tan Aun Aun, who retired on Wednesday. He will oversee the group’s strategic audit plan, align audit strategies with group goals, and drive continuous process improvements.

“With their deep experience and extensive industry knowledge, I am confident they will be instrumental in advancing the group’s business strategy and performance, as well as driving sustained growth and innovation,” Mohd Rashid added.

Shares in RHB settled five sen or 0.88% higher at RM5.71 on Wednesday, with a market capitalisation of RM24.89 billion.