Malayan Banking Bhd (KL) is poised to appoint Michael Oh-Lau as the CEO of its investment banking division, Maybank Investment Bank Bhd (Maybank IB). In addition to his current role as CEO of Maybank Investment Banking Group (MIBG), Oh-Lau’s new position will consolidate leadership of both entities, pending approval from Bank Negara Malaysia.
According to insider sources, Maybank has submitted Oh-Lau’s name to Bank Negara for consideration. “It’s currently under review,” one source told The Edge.
This strategic move aims to streamline operations by merging the CEO roles of Maybank IB and MIBG, which is part of a broader cost-saving initiative. Maybank IB’s previous CEO, Datuk Fad’l Mohamed, stepped down in January to join RHB Bank Bhd (KL) as managing director of group wholesale banking. Following his departure, Maybank IB’s COO Tengku Ariff Azhar Tengku Mohamed took over as officer-in-charge, but the CEO role has remained vacant since.
“By combining the local and regional leadership roles, it’s expected that Oh-Lau will take on the new responsibilities, subject to regulatory approval,” said a source familiar with the matter.
Maybank has so far declined to comment publicly on this development.
Industry experts see this as a return to Maybank’s previous leadership structure, where a single CEO managed both the local and regional arms. From 2014 to 2018, Datuk John Chong held both CEO roles at Maybank IB and MIBG. Chong is now Maybank’s Group CEO of Global Banking.
Michael Oh-Lau brings nearly 30 years of experience within Maybank and has played a critical role in the bank’s wholesale banking sector. He has overseen investment banking, corporate banking, and advisory services across the group’s regional platform since being appointed CEO of MIBG in December 2022.
Additionally, Oh-Lau is credited with helping to design and implement corporate repayment assistance programs during the early stages of the Covid-19 pandemic.
As of the first half of the financial year ending December 31, 2024, Maybank’s total income from its investment banking portfolio reached RM765.7 million, a significant increase from RM564 million during the same period last year.
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