Maybank appoints Shafiq Abdul Jabbar as its new group CFO

PETALING JAYA: Malayan Banking Bhd (Maybank) has appointed Shafiq Abdul Jabbar as its group chief financial officer effective July 7.

In a filing with Bursa Malaysia, Maybank said Shafiq will play a key role in partnering the president and group chief executive officer (PGCEO) to drive value creation and strategic decision making.

“Shafiq is also expected to lead transformation within group finance towards a more forward looking set of capabilities, leveraging on technology and data.

“In close collaboration with the group executive committee (exco) team members, he will focus on enhancing shareholder value, operating at the highest standards of governance, reporting and controls to ensure the group’s sustainable growth and long-term impact.”

Maybank added that Shafiq will report to the PGCEO of Maybank and be a member of the group exco.

“With over 25 years of experience, Shafiq brings broad leadership and diverse expertise from senior roles in banking, media and professional services.

“He began his career at KPMG Melbourne in 1999, later joining PwC in 2003 where he served in both the Kuala Lumpur and London offices, specialising in assurance and advisory services for financial institutions.”

Maybank said Shafiq has held senior roles including head of business finance advisory, country chief financial officer (CFO) and group financial controller of CIMB.

“In 2017, he joined Astro Malaysia as group CFO, initially overseeing strategy and finance, and thereafter expanded to include group data, and media sales—gaining strategic, consumer and digital experience in a structurally disruptive media industry.

“Most recently in February 2024, he assumed the role of group CFO at AmBank, where he was instrumental in driving the group’s financial performance through balance sheet management, improved revenue growth and strategic cost optimisation.”

Shafiq holds a Bachelor of Commerce majoring in Accounting and Finance, from the University of Melbourne and is a Fellow of Chartered Accountants Australia and New Zealand and a member of the Malaysian Institute of Accountants