AEON Consortium appoints Raja Teh Maimunah as CEO 

• Assumes the position from Dec 1
• Previously MD of wholesale banking, AmBank Group 

AEON Consortium has appointed Raja Teh Maimunah Raja Abdul Aziz (pic) as its chief executive officer effective Dec 1.

In a statement, the company said prior to joining the consortium, Raja Teh was the managing director of wholesale banking at AmBank Group. 

Aeon said the seasoned banker has held various positions in the past, including chief executive officer and managing director of Hong Leong Islamic Bank, chief operations officer of digital innovation and transaction banking, Hong Leong Group. 

She also served in Pengurusan Danaharta Nasional Berhad (Malaysia’s national asset management and debt recovery agency) during the Asian Financial crisis in 1998, it added.

Daisuke Maeda, managing director of AEON Credit Service (M) Berhad said he is pleased to welcome Raja Teh as the CEO of the digital bank. 

“We are confident that her leadership skills, coupled with extensive banking experience especially in Islamic Finance and her passion for digital banking, together with the team will be able to build Malaysia's digital banking landscape,” he said.

AEON Credit Service (M) Berhad and AEON Co (M) Berhad both under AEON Group Malaysia have been a household brand name, providing consumers with daily financial and retail access throughout Malaysia for over three decades.

Over the years, AEON Group in Malaysia has built a large ecosystem serving customers via several of its companies besides financial and retailing, it said.

It has 64 AEON Credit branches, 4.7 million AEON card holders and over 10,000 merchant outlets nationwide.

AEON Consortium said it was one of the five consortiums to have been awarded a digital bank licence by the Ministry of Finance and Bank Negara Malaysia in 2021. 

It said the digital bank is expected to launch by the end of next year.