AMMB Holdings Bhd (AmBank Group) has announced that its Group Chief Financial Officer (CFO), Shafiq Abdul Jabbar, will be stepping down to pursue other professional opportunities.

His resignation will take effect on 1 July, but he will begin his garden leave starting 10 April, according to a Bursa Malaysia filing accessed by The Edge.

Sources suggest that Shafiq is set to join Maybank as its new group CFO, replacing Khalijah Ismail, who left the role earlier this year.

Khalijah departed unexpectedly in February following an internal inquiry. She has disputed the nature of her departure, claiming that she was terminated rather than stepping down voluntarily.

Maybank later stated that her departure was due to non-compliance with internal processes but emphasized that there were no financial losses.

Malique Firdaus Ahmad Sidique from Maybank’s Islamic banking division was named acting CFO in the interim.

Maybank has declined to comment on the matter.

Meanwhile, AmBank’s Group CEO, Jamie Ling, will oversee the finance function while the search for a new CFO is underway.

Ling, who previously served as the CFO of AmBank, will manage the responsibilities in the interim. Shafiq joined AmBank as CFO in February 2024.

Prior to this, Shafiq held CFO positions at Astro Malaysia Holdings Bhd and CIMB Bank Bhd.

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