KUALA LUMPUR (October 20): The investment banking arm of Malayan Banking Berhad (Maybank), Maybank Kim Eng, group CEO, Ami Moris, has been appointed president of 30% Club Malaysia.
In this role, Ami will lead the promotion of women leaders on boards and management teams in Malaysia, 30% Club Malaysia said in a statement on Wednesday.
The 30% Club Malaysia is part of a global campaign led by presidents and CEOs taking action to increase diversity, equity and inclusion (DCI) at the board and senior management level
Founding Chairman Tan Sri Zarinah Anwar said that 30% of Club Malaysia has embarked on a DCI approach with key stakeholders to increase the representation of women on the boards and management of listed Malaysian companies in stock exchange (PLC) since its creation in 2015.
“Moving forward, in order to support and pursue our mission, the 30% Club Malaysia has adopted the Global 30% Club model which calls on companies to play a greater role in driving the mission and goals of campaign by assuming a corporate sponsor position and assuming the role of club president on a two-year rotation basis, ”she said.
Zarinah noted that the corporate sponsor will appoint a leader from among his own senior talents to chair the 30% club and provide secretarial support to the club.
“I am delighted to announce that Ami Moris is joining 30% Club Malaysia as President effective today [Wednesday]. At Ami, I know we have a strong advocate and influential business leader who embodies the Club’s mission to promote gender balance on boards of directors and senior executives and foster a culture of inclusion.
“There is much more to be done to achieve our aspirations. The arrival of Maybank as a corporate sponsor marks a new chapter in our journey, reinforces the important role that local businesses play in improving IEI and accelerating the achievement of set goals, ”said she declared.
Incoming 30% Club Malaysia president Ami said the argument for diversity on boards and management teams was a business case and the facts were on its side.
“Data now shows that companies with at least one-third of women on the board correlate with a 38% higher median return on equity (ROE), naturally attracting better and bigger investors.
“Our mission is to close the 30% gap and start working with the next 100 listed companies as leaders in the capital market,” she noted.
Ami added that Malaysia must be well positioned to promote the investment of its major listed companies in order to maintain the leadership of ASEAN with a mindset focused on ESG (environment, social, governance) shifting the global allocation of capital to quality, diversified and inclusive companies.
According to the 30% Club Malaysia, data as of July 1 shows that the representation of women on the boards of the top 100 Malaysian DFCs stands at 25.5%, 4.5 percentage points reaching the 30% pivot point.
In addition, as of July 1, women held 17% of the total number of seats on the board of directors of companies listed on Bursa Malaysia, an increase of 6.3 percentage points from 2015. Currently, there are still four all-male boards in the DFC Top 100, the statement noted. .
As part of its DCI efforts at the board level, in 2017 the 30% Club Malaysia in collaboration with PwC Malaysia created the Board Mentoring Scheme (BMS). To date, 68 women have successfully completed this nine-month mentoring program and 33% of them have already been appointed to corporate boards.
Meanwhile, Maybank Chairman Tan Sri Zamzamzairani Mohd Isa said that becoming a corporate sponsor was a natural fit for Maybank given that he actively promotes DCI at all levels of the organization as he is part of integral to its mission, core values and business strategy.
“Not only do we practice DEI, but we also champion it through our own Diversity Ally program and online training.
“As businesses change and adapt to new growth opportunities after the Covid-19 pandemic, there is a need to have the best and brightest minds on the board and senior management of Malaysian companies listed to help shape sustainable, socially responsible and ethical organizations, as identified under the recently announced PLC transformation agenda.
“Only then can we create a better collective future that incorporates sustainability as a goal, guided by shared values,” he said.
With this appointment, founding presidents Zarinah and Tan Sri Jeffrey Cheah, as well as founding leaders Datuk Abdul Aziz Abu Bakar and Anne Abraham will serve in advisory roles.