Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) today announced the appointment of Tan Sri Abdul Farid Alias as the new Chairman of Bursa Malaysia, effective 1 May 2025. Tan Sri Farid who has served on the Board of Bursa Malaysia since July 2022 succeeds Tan Sri Abdul Wahid Omar who will be retiring on 30 April 2025 upon completion of his five-year tenure as Chairman of Bursa Malaysia. This appointment is made by the Minister of Finance under Sections 10(1)(a) and (3) of the Capital Markets and Services Act 2007.
“On behalf of the Board of Directors, we congratulate Tan Sri Farid on his appointment as the new Chairman of Bursa Malaysia. His service as the Senior Independent Non-Executive Director of Bursa Malaysia facilitates a seamless transition into the chairmanship seat,” said Tan
Sri Abdul Wahid. “The Exchange will continue to strengthen and thrive under Tan Sri Abdul Farid Alias, who embodies the same core values that drive Bursa Malaysia’s purpose-focused growth, ensuring a continuation of the Exchange’s commitment to creating opportunities and growing value for our stakeholders,” Tan Sri Abdul Wahid added.
Tan Sri Farid, 57, is formerly the Group President and CEO of Malayan Banking Berhad from 2013 until 2022. He is a seasoned Chartered Banker with 30 years career in the banking and financial services sector, with a focus on investment banking, commercial banking, and capital markets. He has held various roles in institutions such as Aseambankers Malaysia Berhad (now known as Maybank Investment Bank Berhad), Schroders Malaysia (L) Ltd, Malaysian International Merchant Bankers Berhad and JP Morgan in Malaysia/Singapore.
He also brings a spectrum of experience from board seats in Malaysian and international companies, where he has served in audit, risk management, technology and cybersecurity, as well as nomination and renumeration committees. Tan Sri Farid presently holds directorships in CapitaLand Investment Limited (Singapore) and CelcomDigi Berhad, and serves as a Council Member of the Asian Institute of Chartered Bankers. He is also a member of the Board of Visitors for the Pennsylvania State University’s Smeal College of Business.
Tan Sri Farid holds a Master of Business Administration (Finance) from the University of Denver, USA, and a Bachelor of Science degree in Accounting from the Pennsylvania State University. He also completed the Advanced Management Program from the Harvard Business School.
“I am honoured to soon lead the Board of Bursa Malaysia as its Chairman, and to build on the strong governance, customer-centric culture, and strategic foresight provided by Tan Sri Abdul Wahid. Bursa Malaysia stands at a pivotal juncture, with much innovation potential as a multi-asset exchange, to better serve its diverse stakeholders. I look forward to steering the organisation together with other Board members and Bursa Management, for the betterment of our stakeholders and nation,” said Tan Sri Farid.
The Board thanked Tan Sri Abdul Wahid for his long-standing contributions to the Exchange over a period of 12 years, first being its Independent Director from 2004 to 2011, and then returning to serve as Bursa Malaysia’s Chairman since 1 May 2020. Tan Sri Abdul Wahid will be remembered for his invaluable contributions during his chairmanship at Bursa Malaysia. In particular, his active role in deepening Bursa Malaysia’s strengths in the Islamic capital market and sustainability space, highlighted by innovations such as the launch of the Bursa Carbon Exchange (the world’s first Shariah-compliant multi-environmental product exchange), and the launch of Shariah-compliant Bursa Gold Dinar. Under his tenure, the Exchange also welcomed the world’s first Waqf-featured exchange-traded fund (ETF).
A vocal advocate for championing board governance and sustainability, Tan Sri Abdul Wahid tirelessly spearheaded this agenda and frequently spoke at thought-leadership forums. His conviction on the value of nurturing better-performing listed companies resulted in the initiation of the Public Listed Companies Transformation Programme in 2022.
Among highlights under his stewardship, Bursa Malaysia recorded several market performance milestones, including surpassing the new high of over RM2 trillion equities market capitalisation, and achieving 55 initial public offerings (IPOs), the highest number in almost two decades, ranking the Exchange as ASEAN’s leading IPO market in 2024.
Tan Sri Abdul Wahid also spearheaded Bursa Malaysia in embracing the spirit of an independent front-line regulatory function, through the establishment of an independent Regulatory and Conflicts Committee, pending the formalisation of a regulatory subsidiary structure.
