zeti akhtar aziz : new leaders with energy and optimal performance speech by dr zeti akhtar aziz, governor of the central bank of malaysia ( bank negara malaysia ), at the iclif leadership energy summit asia 2014, kuala lumpur, 1 october 2014. * * * it is with great pleasure that i welcome you to this year ’ s leadership energy summit organised by the iclif leadership and governance centre. while i am not able to be here in person, most certainly i am here in commitment to the leadership development agenda and to this leadership energy summit asia. we are also most pleased to host this summit at sasana kijang. let me also take this opportunity to express our gratitude to the distinguished speakers that have come from different parts of the world to share with us their knowledge and experience on the subject of leadership energy. in this current and future environment, leadership has become even more important than ever before. the global economic and financial environment in this recent two decades has now become dramatically transformed, to become more interconnected, more complex and more competitive. the world has also become more unstable and less predictable with frequent shocks and crisis that requires for their effective management. these challenges transcend corporations, nations and cuts across industries, institutions and jurisdictions. thriving and surviving in this world has demanded a new generation of leadership – forward looking leaders that are able to succeed and bring teams, organisations and countries, to new successes, to new frontiers and having the ability to sustain such performance in this new and more challenging environment. a further phenomenon that has intensified the demand for a new generation of leadership is the trend towards the relentless pursuit of instant results and the attainment of short - term goals. additionally, the complexities of the world has also had the unintended effect of blurring our lens to focus on immediate challenges and problems. the scourge of shorttermism has defined a world where success is measured by short term results because the criteria for success and the incentive structures have promoted such behaviours. such successes can however be only fleeting. the world needs leaders who offer a compelling vision with ambitious goals, where the outcomes will genuinely add value and make a difference, and with results that are sustainable. in this new environment of increased interconnectivity and increased inter - linkages, the role of leaders is also about galvanising and bringing together highly diverse entities and providing solutions to problems that have multi - facetted dimensions. it is also about managing diverse

focused on the interests of clients. well informed financial consumers the bank is mindful that while great emphasis has been placed on the responsibility of financial service providers and intermediaries to ensure that the products recommended to consumers are appropriate to their needs, consumers are ultimately accountable for their own financial decisions. our best efforts to improve the quality of and accessibility to financial advice would be incomplete without at the same time, equipping consumers with the knowledge, skills and tools to make informed financial decisions. these capabilities not only allow individuals to build, manage and preserve wealth, they are essential to help consumers protect themselves against poor market practices and to take appropriate actions when treated unfairly. therefore, enhancing financial capability among malaysians has been and will continue to be an important agenda of the bank. financial advisers have an important role in this effort given your unique vantage point as an objective adviser, and through the close relationships that are cultivated with your clients. we look to the industry to provide input and support to the bank ’ s ongoing work to develop financial capability programmes that are tailored to the different key life stages of individuals from their days as a student, when they enter the workforce, when they start and raise a family, and in retirement. conclusion in closing, let me congratulate the afa on its second annual conference and the progress that has been made in bringing the industry together under an organized platform to further advance and develop the industry. i come back to my opening comments and look forward to working with the association to deliver the objectives that were originally set out for the industry, that is to improve the quality of advice and enhance its role in supporting the broader financial management strategies of malaysian households and individuals to grow their savings, manage risk and meet their financial goals. thank you. bis central bankers ’ speeches