Paduka Noor Zakiah Binti Tengku Ismail stepped down as chairman and nonindependent nonexecutive director of Kenanga Investment Bank Bhd.

Further, Y Bhg Datuk Chay Wai Leong stepped down as executive director. The changes are effective Jan. 28. Leong will, however, remain the bank's group managing director, according to a Jan. 27 release.

The changes to the bank's board were made in response to a recent mandatory regulatory requirement for the board to have a majority of independent directors.