KUALA LUMPUR, June 23 (Bernama) -- CIMB Group Holdings Berhad (“CIMB Group” or the “Group”) on 22 June 2022 announced the appointment of Chu Kok Wei and Novan Amirudin as Co-Chief Executive Officers (“Co-CEOs”) of its Group Wholesale Banking business effective 18 July 2022.

Chu and Novan will head specific business pillars within Wholesale Banking but will be jointly responsible for the overall Wholesale Banking business. They will both report directly to Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group. 

Chu currently serves as Group Head, Treasury & Markets of CIMB Group. With his appointment as Co-CEO, Group Wholesale Banking, Chu will continue to lead Group Treasury & Markets with added responsibility over the Financial Institutions Group (“FIG”). Chu has been with CIMB Group for almost 20 years, having served in various leadership roles since joining in 2003 as Head, Interest Rate Trading - Debt Market & Derivatives. Chu has helmed Group Treasury & Markets since 2015, and under his leadership the business has grown into a market leading franchise and significant profit contributor to the Group. 

As Co-CEO, Group Wholesale Banking, Novan will oversee Group Private & Investment Banking, Corporate Coverage, Public Sector & Government Group and Group Corporate Banking. Novan is joining CIMB Group from a global investment bank, where he was most recently Head of Equity Capital Markets for Southeast Asia and Head of Investment Banking for Malaysia. Novan comes with 18 years’ experience in Investment Banking and Corporate Finance across Kuala Lumpur, Jakarta and Singapore. He has extensive experience in client coverage, mergers & acquisitions (“M&As”), public offerings, private placements, derivative solutions and bank financing. 

Dato’ Abdul Rahman said, “We are pleased to welcome Chu and Novan at the helm of CIMB Group’s Wholesale Banking business. Chu’s appointment demonstrates the strength and expertise of our existing leadership bench, whilst Novan’s appointment will introduce new perspectives and complementary networks that will help us to build on our leading Wholesale Banking franchise. We look forward to working closely with Chu and Novan as joint heads in driving the growth of our Wholesale Banking and ASEAN network businesses regionally in line with our Forward23+ strategic plan.”  

About CIMB​

CIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM54.5 billion as at 31 March 2022. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, South Korea, the US and UK.

CIMB has one of the most extensive retail branch networks in ASEAN with 621 branches and around 33,000 employees as at 31 March 2022. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.  

Source: CIMB Group 

FOR MORE INFORMATION, PLEASE CONTACT: 
Name: Hishamuddin Omar / Anis Azharuddin
Group Corporate Communications CIMB Group Holdings Berhad
Email: hishamuddin.omar@cimb.com / anis.azharuddin@cimb.com

--BERNAMA