CIMB Appoints Group CEO

He succeeds Zafrul Tengku Abdul Aziz, who resigned as group CEO of CIMB Group Holdings and CEO of CIMB Bank in March to join the Malaysian cabinet as finance minister.

CIMB Group, Malaysia’s second-largest financial services provider by assets, has appointed Abdul Rahman Ahmad as group chief executive officer/executive director for CIMB and CEO/executive director of CIMB Bank, effective June 10, the bank announced in a statement.

Abdul Rahman brings more than two decades of experience in leadership roles across several industries, including as CEO of Malaysian Resources Corporation, CEO of Media Prima, CEO of government-linked private equity firm Ekuiti Nasional, and president and most recently as group CEO of asset management firm Permodalan Nasional.

As the industry undergoes fundamental changes, he will bring a fresh perspective to lead CIMB’s continued transformation and build upon its successful ASEAN franchise, CIMB chairman Mohd Nasir Ahmad said in the statement.

CIMB offers consumer banking, commercial banking, investment banking, Islamic banking, and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 Southeast Asian nations, with 697 branches as of March 31, 2020.

Beyond Southeast Asia, the Group has market presence in China, Hong Kong, India, Korea, the U.S., and U.K. CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank, and CIMB Islamic. CIMB Group is also the 92.5 percent shareholder of Bank CIMB Niaga in Indonesia, and 94.8 percent shareholder of CIMB Thai in Thailand.