20 March 2024
Kuala Lumpur: CIMB Securities Sdn Bhd (“CIMB Securities” or “the Company”), a wholly owned subsidiary of CIMB Investment Bank Berhad (“CIMB Investment Bank” or “the Bank”) today announced the appointment of four experienced professionals, namely Stephen Hagger, Novan Amirudin, Tan Ting Min and Julia Hashim to its Board of Directors with immediate effect.
The appointment of the Board of Directors is a step forward towards strengthening CIMB Securities’ position in the market to be the brokerage of the future, while the Company cements its position to become the premier partner in the Malaysian capital market. This follows the recent completion of the acquisition of KAF Equities Sdn Bhd (now known as CIMB Securities), as part of the Bank’s strategy to expand its in-house capabilities, that complements CIMB Group’s Wholesale Banking business in Malaysia.
Ruzi Rani Ajith, Chief Executive Officer of CIMB Securities said, “CIMB Securities’ Board of Directors possess significant expertise in implementing strategic priorities to drive shareholder value and have the skillsets, experiences and professional backgrounds representing a diversity of perspectives and characteristics that are particularly relevant to the Company’s business and strategic objectives. We are excited to welcome Stephen Hagger, Novan Amirudin, Tan Ting Min, and Julia Hashim to our esteemed Board of Directors. Their collective expertise and industry insights will elevate our Board's strategic counsel for CIMB Securities. These appointments mark the establishment of a highly proficient and seasoned Board, dedicated to steering the Company towards strategic excellence and commercial success.”
Stephen Hagger – Independent Chairperson
Hagger was the Country Head as well as Managing Director and Head of Equities for Credit Suisse in Malaysia. His leadership earned the team repeated top rankings from Institutional Investors. Hagger’s career at Credit Suisse began in 1998 and included key roles in ASEAN sales and research. Prior to joining Credit Suisse, he was the Managing Director, Country Head and Head of Equity Research at BZW Malaysia. He had also worked as the Head of Equity Research at Kim Eng Securities in Kuala Lumpur, managed fund with Hill Samuel Bank, Singapore and served as an equities analyst for Robert Fleming in London.
Novan Amirudin – Non-Independent Director
Novan is the Co-Chief Executive Officer of Group Wholesale Banking and the CEO of CIMB Investment Bank. He is responsible for CIMB Group’s Corporate Banking, Investment Banking and Private Banking businesses. Novan comes with more than 20 years’ experience in investment banking and corporate finance across Kuala Lumpur, Jakarta and Singapore with extensive experience in client coverage, mergers and acquisitions, public offerings, private placements, derivative solutions and bank financing. Prior to CIMB, Novan was Head of Equity Capital Markets for Southeast Asia and Head of Malaysia Investment Banking for JP Morgan.
Tan Ting Min – Independent Director
Tan is the Independent Director of CIMB Investment Bank. She brings with her an impressive track record of more than 30 years as a highly respected equity research analyst. She began her finance career at Ke-Zan Securities Sdn. Bhd. and joined Credit Suisse Securities (Malaysia) Sdn. Bhd and subsequently became the Head of Research in 1994. Under her leadership, Credit Suisse's equity research team topped the Institutional Investor Polls in Malaysia for seven consecutive years. Tan’s expertise covers various sectors, including consumer, retail, F&B, tobacco, packaging, plantation, property, REIT, utilities, and conglomerates.
Julia Hashim – Independent Director
Julia is an experienced professional, particularly within the banking industry. Her last position prior to retirement was as Chief Operating Officer for the ASEAN region at Principal Asset Management Berhad, where she oversaw operational divisions, including Finance, HR, Strategy, Legal, Risk, IT, Operations, and Product Development across the Southeast Asian entities within Principal Asset Management. Prior to her role at Principal Asset Management, Julia spent 23 years at CIMB Investment Bank, where she held positions such as Head of Equities Malaysia and Head of Institutional Sales for ASEAN.
