PROFESSIONAL services provider Zico Holdings : 40W 0% on Monday (Apr 8) appointed Mohamed Nasser Ismail – who was formerly the global head of equity capital markets at the Singapore Exchange (SGX) – to its board as an independent director, along with two other directors.

The new appointments, the company said, is to sharpen its focus on the capital market and wealth management sector in the region. The three appointments are effective immediately. 

The company said its appointment of Nasser, 51, represents a “strategic move aimed at rejuvenating and refreshing” its board. 

Nasser’s appointment is “essential to ensure the continued dynamism and relevance of the board in a rapidly evolving business landscape,” the company added. 

Zico said Nasser brings a wealth of qualifications and extensive experience, particularly in the capital equity market, making him “well-suited” for his roles. 

Nasser is currently the chairman of DBS’ digital exchange conflicts and appeals committee, and also serves as a senior adviser to law firm WongPartnership. 

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He was also elected to the board of Sim Leisure Group in March this year. 

Veerinderjeet Singh will also join Zico’s board as an independent director. The company said Singh, 67, is a “noted authority” in the field of Malaysian taxation with over 40 years of experience across the public sector, academia, private practice and the corporate sector on various tax matters including incentives, restructuring and listing exercises.

He is currently a senior adviser on tax policy for KPMG Malaysia, and also serves as an independent non-executive director on the boards of AmBank Malaysia and Malaysian Rating Corporation. 

Zico also appointed Shweta Nandy, 29, to its board as a non-independent non-executive director. The company said Nandy established her legal career in alternative finance, private equity and wealth management, and served as managing partner of a legal firm in Malaysia, where she headed the corporate and commercial practice. 

As she does not have any prior experience as a director of an issuer listed on SGX, Zico will arrange for her to attend the relevant training on the roles and responsibilities of a director at a Singapore-listed company within one year from her appointment date. 

Zico’s board said it has considered the recommendations of its nominating committee and assessed the three incoming directors. It concluded that the trio have the requisite experience and capabilities to assume the responsibilities of their roles at Zico. 

Shares of Zico fell 18.3 per cent or S$0.011 on Monday to close at S$0.049 ahead of the news.