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Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) today announced that its Board of Directors has named Datuk Muhamad Umar Swift to succeed Datuk Seri Tajuddin Atan as the new Chief Executive Officer (“CEO”), effective 11 February 2019. This decision by the Board of Directors was made following its implementation of a robust leadership succession plan, to ensure that the Exchange is best positioned to deliver on its value proposition to all stakeholders. The Securities Commission of Malaysia has also given its concurrence for the appointment of the new CEO in accordance with Section 10 of the Capital Markets and Services Act 2007.
Bursa Malaysia Chairman, Tan Sri Amirsham A Aziz said, “I have full confidence that Datuk Umar will continue to provide great leadership to Bursa Malaysia and build on the transformational initiatives spearheaded by Datuk Seri Tajuddin, who has played a pivotal role in establishing the Exchange as a trusted partner and a venue for long-term wealth and value creation.”
Datuk Seri Tajuddin Atan joined Bursa Malaysia as CEO in April 2011 when he was given the mandate to create a vibrant capital market. Under his leadership, he implemented strategic initiatives that has transformed the Exchange into a national institution that has delivered a robust, dynamic and efficient capital market. As a company, Bursa Malaysia has also continued to showcase a strong and sustainable business performance, evidenced by positive financial results. Against a backdrop of a challenging global environment in 2018, Bursa Malaysia had recently announced its highest ever nine-month operating revenue since listing in 2005.
Datuk Umar brings with him over 22 years of experience in the areas of banking and financial services. He is currently the Group Chief Executive Officer and Group Managing Director of MAA Group Berhad. He holds a Bachelor’s degree in Economics from Monash University, Australia. He is an Associate of the Institute of Chartered Accountants in Australia, a Chartered Accountant with the Malaysian Institute of Accountants, a member of CPA Australia, a Fellow of the Taxation Institute of Australia, as well as a Fellow of the Financial Services Institute of Australasia in Australia.
Tan Sri Amirsham added, “The Board of Directors, management and staff of Bursa Malaysia look forward to working closely with Datuk Umar in his new role as CEO. His experience will bring a refreshed perspective for Bursa Malaysia and I am confident that he will continue to spearhead the Exchange towards its next phase of accelerated growth of becoming a leading, responsible and globally-connected ASEAN Marketplace.”
