CIMB announces management changes

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KUALA LUMPUR (Nov 19): CIMB Group Holdings Bhd group chief financial officer (CFO) Shahnaz Jammal will take on the role of the group's chief executive officer (CEO) of group wholesale banking come Jan 1, 2019.

Khairulanwar Rifaie, currently the CFO of CIMB Malaysia and CIMB Islamic Bank Bhd, will replace Shahnaz as group CFO.

Effendy Shahul Hamid, currently the CEO of group asset management and investments, will focus on various digital partnerships and ecosystems as the CEO of group ventures and partnerships, a new division.

In a statement today, CIMB said the changes and new appointments in its top management is part of its long-term strategy to ensure that its franchise as a leading universal bank in Asean will continue to remain strong against a fast-evolving operational landscape.

"The new line-up, consisting of existing and fresh talent, will help drive the group to meet its strategic priorities going forward," said its group CEO Tengku Datuk Seri Zafrul Aziz.

Gurdip Singh, meanwhile, has been appointed group chief strategy and design officer, with additional responsibilities in customer experience, customer journey, sustainability and branding.

Victor Lee Meng Teck will be joining CIMB on Jan 17, 2019 to oversee the group's commercial banking and transaction banking businesses. Lee brings with him 20 years of extensive experience at various global financial firms.

The group has also appointed Omar Siddiq as group chief operating officer effective Nov 26. Omar will manage and provide oversight in the group's finance, technology and operations divisions.

Prior to this, Omar was head of group wholesale banking at RHB Bank Bhd and had also served at Malaysia Airlines Bhd and Khazanah Nasional Bhd.

CIMB shares closed 8 sen or 1.42% higher at RM5.73 today, with 5.17 million shares done, bringing a market capitalisation of RM54.8 billion.