RHB chief economist Arup Raha leaves bank after less than a year

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KUALA LUMPUR/SINGAPORE (Aug 2): RHB Bank Bhd’s chief economist and research head Arup Raha has left the Malaysian lender less than a year since joining.

Raha departed effective Aug. 1 and the group is looking for a replacement, an RHB representative said in response to queries from Bloomberg News, without elaborating.

Raha joins a string of departures at Malaysia’s fifth-largest lender by market value. Several executives have left since last year as the bank shifted strategy, combining its institutional equities and equity capital markets business and scrapping plans to merge with AMMB Holdings Bhd.

Singapore-based Raha joined RHB in September from CIMB Group Holdings Bhd., where he was chief economist, according to his LinkedIn profile. He’s also had stints with HSBC Holdings Plc, UBS Group AG and Citigroup Inc.