KUALA LUMPUR: CIMB Group Holdings Bhd has appointed Novan Amirudin as its Group Chief Executive Officer (CEO), effective 1 July 2024, following the departure of Datuk Abdul Rahman Ahmad on 30 June.
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 by 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 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 almost 16 years with JP Morgan as the Head of Equity Capital Markets for Southeast Asia and the Head of Investment Banking for Malaysia. Before that, he was with PricewaterhouseCoopers (PwC), specialising in corporate finance advisory.
CIMB also announced the appointment of Gurdip Singh Sidhu as CIMB Bank CEO, 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, would focus on driving strategic priorities for CIMB Bank including enhancing resiliency, innovation and growth to take the Malaysian franchise market to the next level.
“The appointment of the new leadership team is a positive reflection of the group’s robust succession planning that is in place,” said Mohd Nasir.
— BERNAMA
