KUALA LUMPUR (Nov 20): AMMB Holdings Bhd (AmBank Group) announced today that Datuk Sulaiman Mond Tahir will be its new group chief executive officer (CEO) as well as the CEO for its commercial banking arm AmBank (M) Bhd, effective Nov 23 (Monday).

Sulaiman, 52, has 28 years of spearheading growth in the banking sector's retail operations; he resigned as CIMB Bank Bhd's CEO two months ago and will officially end his tenure with CIMB tomorrow (Nov 21), according to AmBank Group's announcement on Bursa Malaysia today.

"His experience in development and management of retail products and keen understanding of distribution channels to strategically grow the consumer banking business provides him with extensive insight into the sector," the group said in a press statement.

AmBank Group chairman Tan Sri Azman Hashim said fresh blood was needed to strengthen the group's market share.

"We need to be more discerning of the needs of customers, be it in consumer banking, wholesale banking or investment banking. I am confident that Datuk Sulaiman will bring with him a new paradigm in terms of innovation, governance and the strengthening of our customer service levels," said Azman.

In a separate filing, AmBank Group also announced that Datuk Mohamed Azmi Mahmood is no longer its acting group managing director but will still hold his post as deputy group CEO.

AmBank Group's shares closed down by seven sen or 1.5% at RM4.59 today for a market capitalisation of RM14.05 billion.

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