THE Securities Commission Malaysia (SC) has confirmed the resignation of Datuk Syed Zaid Albar as executive chairman.
His last day on the job will be May 31, 2022.
Syed Zaid will be succeeded by Datuk Dr Awang Adek Hussin who will assume the position on June 1, 2022.
Appointed to the role in 2018, Syed Zaid has helmed the SC for nearly four years.
He was instrumental in leading the institution and the capital market through a challenging period dominated by the effects of the COVID-19 pandemic on businesses and investors.
During his leadership, the SC recalibrated its priorities to enable the regulator and capital market participants to address and respond to the impact of the pandemic while ensuring market stability and continuity.
Syed Zaid also focused on advancing the SC’s development initiatives particularly in promoting the sustainability agenda, growing the Islamic capital market and harnessing innovation.
Key to this is the release in September last year of the Capital Market Masterplan 3 (CMP3), which will set the tone and direction for the SC’s development and regulatory initiatives for the next five years.
“It is an honour and privilege for me to serve the country, and lead an institution that stands resolutely strong like the SC. I welcome the appointment of Datuk Dr Awang Adek and wish him well in his new role as the next SC chairman,” said Syed Zaid.
“I would like to thank the SC’s Board, leadership team and the officers and staff of the SC. Their integrity, professionalism, and dedication were tested and proven many times as they ceaselessly worked to ensure the stability and continuity of the capital market.” – April 28, 2022
