Board of Directors


Tan Sri Foong was appointed as Chairman on 16 August 2016. He was a former Federal Court Judge. Prior to his elevation to the Federal Court of Malaysia, he served as a Judge of the High Court of Malaya and later a Judge of the Court of Appeal of Malaysia. While in the Malaysian Judiciary, he was made a Managing Judge of the Civil Division of the High Court in Kuala Lumpur, and the High Court and Subordinate Courts of Penang. He was also instrumental in assisting the Chief Justice of Malaysia in transforming the Judiciary by devising schemes to clear the backlog of cases. He retired from the Malaysian Judiciary on 25 February 2012.

Tan Sri Foong graduated from the University of London with LL.B. (Honours) degree in 1969. He was called to the English Bar by the Honourable Society of the Inner Temple in 1970. While in practice, after being called to the Malaysian Bar in 1971, Tan Sri Foong practised as an advocate and solicitor majoring in insurance both general and life and served as legal adviser to numerous guilds and associations in Malaysia before his elevation to the High Court Bench. He was also an external examiner at the Faculty of Law in the University of Malaya.

He was made Honorary Bencher of the Honourable Society of the Inner Temple, London in 2009; and in 2011, was conferred an honorary Doctor of Laws degree by the University of the West of England. He is an adjunct professor of law with Taylor’s University, Malaysia. Currently, he practises law and is an arbitrator with several bodies, including the Asian International Arbitration Centre (AIAC), International Court of Arbitration (ICC), London Court of International Arbitration (LCIA) and Hainan International Arbitration Centre. He also serves as an independent director of several companies including Genting Berhad and OWG Group Berhad.


Deputy Chairman

Tan Sri Tay was appointed as Director and Deputy Chairman in December 2004. He is currently the Managing Director and CEO of Public Bank Berhad. He joined Public Bank Group as a pioneer staff in 1966. Prior to his present designation in Public Bank, he was the Executive Vice-President of the former Public Finance Berhad and then the Executive Vice-President and Executive Director of Public Bank. He has accumulated immense experience, spanning six decades in the banking and finance industry.

He is also a director of several companies in the Public Bank Group, director of Cagamas Holdings Bhd, and Chairman of the Association of Hire Purchase Companies of Malaysia. In addition to this, he is also a Council Member of the Association of Banks in Malaysia and the Asian Institute of Chartered Bankers.

Tan Sri Tay graduated from Henley Business School, UK with an MBA and is an Alumni of Harvard Business School. He is an Emeritus Fellow of the Malaysian Institute of Management; a Fellow, Chartered Banker, of the Asian Institute of Chartered Bankers, and is a Fellow of CPA Australia and the Financial Services Institute of Australasia.

Non-Executive Independent Director

Y. Bhg. Tan Sri Dato’ Sri Zaleha binti Zahari has been the director of OFS since July 2017.

Tan Sri Zaleha was appointed as a Non-Executive Independent Director in July 2017. In her 20 years of service in the Judicial and Legal service, Tan Sri Zaleha had served inter alia, as a Magistrate, Senior Assistant Registrar of the High Court, Deputy Public Prosecutor as well as Legal Adviser to the Ministry of Education, the Economic Planning Unit, the Ministry of Home Affairs, and the Department of Inland Revenue. She was the Head of the Civil Division in the Attorney General’s Chambers prior to being appointed as a Judge of the Superior Bench.

Tan Sri Zaleha qualified as a Barrister-at law, Middle Temple, UK in 1971 before joining the Judicial and Legal Service. She also holds a Certificate in Legal Drafting from the University of London. Tan Sri Zaleha was appointed as a Judicial Commissioner and subsequently as Judge of the High Court, Court of Appeal Judge and thereafter, Federal Court Judge in 2012. She retired from the Malaysian Judiciary in November 2014.

She is currently an Independent Non-Executive Director of Genting Plantation Berhad. She served as Chairman of the Operations Review Panel of the Malaysian Anti-Corruption Commission from 15 August 2016 to 14 August 2019.

Non-Executive Independent Director

Ms Sujatha Sekhar Naik has been a Non-Executive Independent Director of OFS since September 2020. She is a senior capital markets professional whose experience encompasses policy and strategy development, governance, compliance, and dispute resolution. With over 30 years of experience in legal and capital market work, Ms Sujatha brings a depth of experience plus a practical and holistic understanding of financial markets, the regulatory framework and investor concerns and challenges.

In October 2021, she took on the mantle of Chief Governance Officer & Group General Counsel of Smart Glove Holdings Bhd, bringing her experience in governance and compliance work to the manufacturing sector. Prior to this she was Managing Partner and Principal Consultant of SSN Consult Plt, during which she worked as part of a founding team with Kapital DX Sdn Bhd, responsible for developing the risk and compliance framework for the fintech start up.

She served as CEO of the Securities Industry Dispute Resolution Center (SIDREC) from 2013 to 2019. As CEO, she helped steer SIDREC’s dispute resolution service to be at par with international best practice and in step with developments in the capital market. Her prior work as a regulator at the Securities Commission Malaysia (SC), included advisory and reform work in both the General Counsel’s Office and the Corporate Finance and Investments Business Group. She was involved in SC’s major policy and reform work and responsible for the development and implementation of the investor education strategy and management of complaints on market misconduct.

Ms Sujatha obtained her LL.B. (Hons) degree from the University of London and was called to the Bar of England and Wales in 1989 and re-qualified with the Law Society of England and Wales as a Solicitor in 1990. She was called to the Malaysian Bar in 1998. She is an accredited mediator plus certified trainer and coach of the Bar Council’s Malaysian Mediation Centre. She is currently the Chairman of the Board of Governors of the Malaysian Institute of Corporate Governance (MICG and also sits on the board of Metrod Holdings Berhad).

Non-Executive Independent Director

Dato’ Dr. Paul Selvaraj was appointed as a Non-Executive Independent Director of OFS in September 2020. He is currently the Secretary General of the Federation of Malaysian Consumers Associations (FOMCA), and the Chief Executive Officer for the National Consumer Complaints Centre (NCCC) as well as the Consumer Research and Resource Centre (CRRC).

Dato’ Dr. Paul oversees consumer advocacy, education, complaints, and research to strengthen consumer protection and welfare. He has been actively involved with the consumer movement for more than 30 years. He represented FOMCA in various task forces and consumer areas including cost of living, healthcare, financial literacy, public transport, consumer education, and consumer laws. He was a member of the National Economic Council under the previous administration. He is the chief editor for the CRRC Review, a journal on enhancing research on consumer issues. He was the second editor of the book ‘Consumer Issues in Malaysia: Strengthening Consumer Protection and Enhancing Consumer Empowerment’.

He was a senior lecturer in Psychology at a private university and was the Executive Director of Yayasan SALAM Malaysia, an NGO promoting voluntarism and civil society involvement amongst Malaysian citizens. He served as the Head of Research for the Institute for Policy Research (IKD). He possesses a PhD in Business Administration from Open University Malaysia, Masters’ in Psychology from Universiti Malaya and B.Sc. (Agribusiness) from Universiti Pertanian Malaysia.

Non-Executive Non-Independent Director

Datin Veronica was appointed as a Non-Executive Non-Independent Director in October 2011. Datin Veronica is currently the General Counsel of AIA Malaysia for AIA Bhd., AIA Public Takaful Bhd., AIA General Berhad, AIA Health Services and AIA Pension Asset Management Sdn. Bhd.

As an Executive Committee member of the Senior Management Team of AIA Bhd. Datin Veronica’s focus is on strategy for sustainable growth while creating value for the company’s stakeholders. Datin Veronica is also responsible for a number of portfolios including legal, company secretarial, investigation, corporate governance, corporate security, business continuity, occupational and building safety which includes Covid Management for the staff and Life Planners of AIA. In this regard, AIA Malaysia was the winner of the 2022 Malaysia Management Excellence Award for Life Insurance Covid Management Initiative of the year.

Datin Veronica also serves on the Committees of multiple organisations and she is currently the Chairperson of the Joint Industry Competition Act and Data Protection Task Force for the General Insurance Association of Malaysia (PIAM), the Malaysia Takaful Association (MTA) and the Life Insurance Association of Malaysia (LIAM), a Member of the Disciplinary Committee, Malaysian Financial Planning Council (MFPC) and Member of the Administration and Finance Committee, Life Insurance Association Malaysia (LIAM).

Datin Veronica has been involved in many corporate exercises and has been instrumental in bringing the successful integration of ex-ING with AIA Bhd. and the establishment of AIA General Berhad, a separate line of business for general insurance of AIA Malaysia. She has also received various accolades including being listed in the GC Powerlist Southeast Asia 2022.

She was called to the Bar in 1991 and was in practice before moving into the insurance industry that now spans more than 25 years of experience. She has also held regional counsel positions for AIA entities in Indonesia, Sri Lanka, and India.

Datin Veronica has a bachelor’s degree in Law from University Malaya.


Non-Executive Non-Independent Director

Mr Antony Lee was appointed as a Non-Executive Non-Independent Director in December 2017. He is currently the Chairman of the General Insurance Association of Malaysia (PIAM); the Malaysian Insurance Institute (MII) as well as the American Malaysian Chamber of Commerce (AMCHAM). He is also a director of the Financial Industry Collective Outreach (FINCO).

Mr Lee has been in the insurance sector for more than 21 years. Since joining American International Group (AIG) group in 2001, he has served in various operational disciplines including CEO of AIG’s first Global Services Hub located in Malaysia and Regional Vice- President of Commercial and Consumer Businesses in the Asia Pacific Region. He was CEO of AIG Vietnam in 2011 before his appointment as CEO of AIG Malaysia Insurance Bhd in October 2013.

Non-Executive Non-Independent Director

Puan Ratna Sha’erah Kamaludin has been appointed as a Non-Executive Non-Independent Director of OFS in September 2022.

She is currently serves as Executive Director of the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM) since January 2020. Since joining AIBIM in March 2016, she has played a key role in AIBIM’s strategic planning and communication, as well as the operational management of the Association.

She is instrumental in the success of the Global Islamic Finance Forum (GIFF) held in 2016, 2018 and 2022 which offers unique networking opportunity for regulators, industry practitioners, business leaders and Shariah scholars in enhancing the true potential of Islamic Finance in the international marketplace.

With over 20 years of experience in the field of business reengineering, risk management and banking channels as well as operations, Ratna has served various banking and asset management companies since 1996 which includes Maybank Finance Berhad, Pengurusan Danaharta Nasional Berhad, CIMB Investment Bank Berhad and Bank Islam Malaysia Berhad.

Ratna holds a degree in Bachelor (Hons) of Management from University Science Malaysia.

Non-Executive Independent Director

Puan Shahariah Othman has been appointed as a Non-Executive Independent Director of OFS in April 2023.

She has an extensive central banking experience in the area of regulation and supervision of the banking and payment system industry as well as market conduct regulation and supervision of the financial industry. She has served Bank Negara Malaysia (BNM) since 1989 in various capacity and departments, including Banking Supervision, Banking Regulation, Payment System Policy, Money Services Business Regulation and the Consumer and Market Conduct department. She was also involved in the establishment of the Corporate Debt Restructuring Committee during the 1997-98 financial crisis.

Puan Shahariah was seconded from BNM to serve as the Chief Executive Officer of OFS in November 2017 until December 2019. Subsequently, she headed the Payment Oversight department in BNM until her retirement in July 2022.

She holds a bachelor’s degree in business administration (Accounting) from the University of Southern California, Los Angeles, US.

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