CIMB APPOINTS NOVAN AMIRUDIN AS NEW GROUP CEO, EFFECTIVE JULY 1

KUALA LUMPUR, June 4 (Bernama) -- CIMB Group Holdings Bhd (CIMB) has appointed Novan Amirudin as its group chief executive officer (CEO), effective July 1, 2024, following the departure of Datuk Abdul Rahman Ahmad on June 30.

CIMB said Novan is currently the co-CEO of Group Wholesale Banking (GWB) as well as the CEO of CIMB Investment Bank Bhd, wherein he is responsible for Group Corporate Banking, Group Investment Banking, Group Private Banking, Corporate and Public Sector Coverage. 

Since joining CIMB in 2022, Novan has transformed GWB, which is the largest business within CIMB, and implemented a new operating model to simplify, de-layer and specialise to sharpen its focus and execution.

Under his leadership, CIMB has also reclaimed its position as Malaysia's top investment bank by share of wallet and led the group's re-entry into the public equities business, through the acquisition and relaunch of CIMB Securities, the banking group said in a statement. 

"He is an experienced banker who has excelled in strategic leadership and demonstrated a strong track record in organisational transformation and driving results.

"Novan’s appointment will also provide continuity of strategy and execution, leveraging on the strong platform built on the success and achievements of CIMB’s Forward23+ Strategic Plan," commented its chairman Datuk Mohd Nasir Ahmad. 

Novan, a chartered accountant, has more than 20 years of experience in banking and advisory across Malaysia, Indonesia and Singapore.

Prior to joining CIMB, Novan spent close to 16 years with J.P. Morgan, with his last position being head of equity capital markets, Southeast Asia, and head of investment banking, Malaysia. Before joining J.P. Morgan, he was with PricewaterhouseCoopers (PwC), specialising in corporate finance advisory, CIMB said.

Meanwhile, the group also announced the appointment of Gurdip Singh Sidhu as CEO of CIMB Bank and Malaysia, where he would be responsible for the day-to-day management of CIMB’s home market and core operating geography.

Gurdip, who is currently the chief operating and people officer of CIMB Group, would focus on driving strategic priorities for CIMB Bank including enhancing operating resiliency, innovation and growth to take the Malaysian franchise to the next level.

"The appointments of the new leadership team are a positive reflection of the group’s robust succession planning that is in place," Mohd Nasir added. 

-- BERNAMA