19 November 2018


Blend of existing and new talent to propel Group’s strategic growth across all businesses and geographies


CIMB Group (“CIMB” or “the Group”) has announced changes and new appointments in its top management as part of its long-term strategy to ensure that its franchise as a leading universal bank in ASEAN will continue to remain strong against a fast-evolving operational landscape. The new line up, consisting of existing and fresh talent, will help drive the Group to meet its strategic priorities going forward.


The new changes to top management, effective 1 January 2019, will see Shahnaz Jammal relinquishing his current position as Group Chief Financial Officer to take on the role of CEO, Group Wholesale Banking; and Khairulanwar Rifaie, currently the CFO of CIMB Malaysia and CIMB Islamic Bank Bhd., succeeding Shahnaz as Group Chief Financial OfficerEffendy Shahul Hamid will focus on various digital partnerships and ecosystems as the CEO of Group Ventures and Partnerships, a new Division. Gurdip Singh has been appointed Group Chief Strategy and Design Officer, with additional responsibilities in customer experience, customer journey, sustainability and branding.


Victor Lee Meng Teck will be joining CIMB on 17 January 2019 to oversee the Group’s Commercial Banking and Transaction Banking businessesVictor brings with him 20 years of extensive experience at various global financial firms.


The Group has also appointed Omar Siddiq as Group Chief Operating Officer, to add to its management bench strength. Effective 26 November 2018, Omar will manage and provide oversight in the Group’s finance, technology and operations divisions. Prior to this, Omar was Head of Group Wholesale Banking at a regional banking group and had also served at Malaysia Airlines Berhad and Khazanah Nasional Berhad.


Group CEO, CIMB Group, Tengku Dato’ Sri Zafrul Aziz said, “T18 has significantly strengthened our foundation and helped complete our ASEAN footprint. Moving forward, customers will remain our top priority, as we transform to further propel growth across all businesses and geographies. Our people continue to be our most valuable strategic asset, and I am confident that this top management blend of existing and fresh talent will enable the Group to stay competitive as a leading universal bank in ASEAN.“