LAWYER Syed Zaid Albar is the new Securities Commission executive chairman effective October 15, the Prime Minister’s Office announced today. 

The experienced lawyer replaces Ranjit Singh who has been there since April 1, 2012.

Syed Zaid has wide experience in the corporate and securities sectors in his 38 years in the legal field. Before setting up his own practice with Albar & Partners, he was at Skrine & Co.

He graduated with a Bachelor of Arts (Honours) degree in Law in the United Kingdom and qualified as barrister-at-law at Lincoln’s Inn. He was admitted as an advocate and solicitor of the High Court of Malaya in 1980.

Prior to his appointment, Syed Zaid was the managing partner of an established law firm in Kuala Lumpur and headed the firm’s Islamic finance division which oversees banking and finance and corporate/commercial practice. 

He also contributed  his legal experience as an appointed member of the Appeals Committee of Bursa Malaysia Bhd.

Syed Zaid serves as director on the boards of Malaysian Pacific Industries Bhd, Yinson Holdings Bhd, and Motorsports Association of Malaysia. 

He is the younger brother of former minister Syed Hamid Albar. Their father is Syed Jaafar Albar of Umno.

Meanwhile, Ranjit’s departure is the latest in a string of high-profile exits since the Pakatan Harapan coalition took Putrajaya on May 9.

Bank Negara Malaysia governor Muhammad Ibrahim, Federal Land Development Authority chairman Shahrir Abdul Samad, Lembaga Tabung Haji chairmani Abdul Azeez Abdul Rahim and Permodalan Nasional Bhd group chairman Abdul Wahid Omar are among those who have resigned.

Ranjit was the managing director at the Securities Commission before taking the chair on April 1, 2012, replacing Zarinah Anwar. In April last year, his tenure was extended for three years. 

He has extensive experience in finance and securities market regulation.  Trained as a financial economist and accountant, Ranjit served the regulatory body in 1994 in areas of market supervision and oversight, strategy and risk management, financial policy and economics, and was at one point the managing director. –  September 30, 2018.