Ranjit Ajit Singh will be leaving the prestigious and powerful position at the Securities Commission Malaysia in the middle of this month.
Ranjit, who was promoted to executive chairman in April 2012, will be leaving mid-way of his current three year term which was extended last year, marking yet another high-profiled departure following the change of government in May.
He has served the regulatory body since 1994 in a variety of areas including market supervision and oversight, strategy and risk management, financial policy and economics. Prior to the latest promotion, he was the regulator’s managing director.
In a statement today (30 Sept 2018), Malaysia’s Prime Minister’s Office announced the appointment of Syed Zaid Albar as the new SC executive chairman effective 15 Oct.
With his extensive experience in the field of finance and securities market regulation, Ranjit had spearheaded many key initiatives in the development and reform of Malaysia’s capital market.
Ranjit is trained as a financial economist and accountant. He holds a Bachelor of Economics (Honours) degree and a Master of Economics degree in Finance from Monash University, Melbourne. He was also conferred the degree of Doctor of Laws honoris causa by Monash University Melbourne. He is a fellow of CPA Australia and has worked in academia, consulting and accounting in Australia and Malaysia, according to his profile at the SC website.
Ranjit, who holds the Federal state title of ‘Tan Sri’, is also active in various other initiatives, as listed out in his profile.
He was appointed the vice-chairman of the governing board of the International Organization of Securities Commissions (IOSCO), the global body of capital market regulators and was elected as the chairman of IOSCO’s Growth and Emerging Markets Committee (GEM) which represents 94 countries.
In 2014, he was appointed chairman of the Asean Capital Markets Forum (ACMF), a body tasked to spearhead market integration efforts within the region and comprises capital market authorities from Asean, a regional block made up of 10 countries.
Ranjit also chairs the Securities Industry Development Corporation (SIDC), the Malaysian Venture Capital and Private Equity Development Council (MVCDC) and the Capital Market Development Fund (CMDF). He is also the vice-chairman of the Asian Institute of Finance and a member of the board of the Labuan Financial Services Authority and the Financial Reporting Foundation as well as a board member of the Malaysian Institute of Integrity (IIM).
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