Mauritius-based financial powerhouse AfrAsia Bank has announced the appointment of Malachy McAllister as its new CEO, effective as of Dec. 3.
McAllister is a veteran banker with an enviable track record of strategic leadership and cognate experience that spans more than three decades. Prior to his recent appointment, he served as the CEO of HSBC Russia. He also led vital businesses at HSBC in China, Malaysia and France.
Malachy is skilled in debt and equity instruments, project and export finance, asset-backed finance and securitization, with verifiable experiences in both developed and emerging markets.
AfrAsia Bank Chairman Inderjit Bedi expressed optimism that Malachy’s addition will help grow the brand’s reputation locally and internationally, as well as consolidate its position as a systemically-important bank in Mauritius.
Meanwhile, the new CEO thanked the bank for the opportunity and assured stakeholders of his intentions to move the bank to the next phase of growth.
He said: ‘’As I inherit AfrAsia Bank’s strong domestic foothold, its solid regional foundations and robust balance sheet, I am honored to be appointed and I am enthusiastic to drive AfrAsia’s next growth phase. That said, it’s not only about the bank’s advancement – I hope to contribute to reinforcing the Mauritius International Financial Center’s brand globally. That will require the concerted efforts of both public and private sector players and I am keen to play a role. I really believe that I’m joining AfrAsia at an ideal moment when the Mauritian economy is being rebooted in a sustainable manner and all of us are called upon to play our part in driving the next phase of growth for the island.”
AfrAsia Bank is a financial institution specialized in providing banking services that bridge the gap between Africa, Asia, and the rest of the world. It has its headquarters in the Mauritius International Financial Center and a representative office in South Africa, serving clients in more than 16 countries.
The bank was established in 2007 and offers specialized banking services that include corporate banking, global business banking, treasury and financial markets, private banking and wealth management.