CIMB Group Holdings Berhad has announced the appointment of Datuk Syed Zaid Albar as its next Group Chairman, with effect from 20 July 2025. This appointment follows the scheduled retirement of Tan Sri Mohd Nasir Ahmad, who will step down from the Board on 19 July 2025. In preparation for this leadership transition, Datuk Syed Zaid will join the Board as an Independent Non-Executive Director on 18 June 2025.
Tan Sri Mohd Nasir, speaking on behalf of the CIMB Group Board of Directors, expressed confidence in his successor, stating that Datuk Syed Zaid’s extensive expertise in law, financial services, and regulatory oversight would bring a valuable perspective to the Group’s strategic direction. He noted that Datuk Syed Zaid’s leadership is expected to provide critical guidance in driving the Forward30 strategic plan as the Group enters its next phase of growth and transformation.
Datuk Syed Zaid brings with him four decades of legal experience, having made a distinguished impact on Malaysia’s capital markets, particularly in debt and equity financing, including Islamic finance. A founding partner of Albar & Partners, he has been consistently recognised for his role in significant capital market transactions and legal advisory excellence.
In 2018, he stepped away from legal practice to assume the position of Executive Chairman of the Securities Commission Malaysia (SC), where he served until mid-2022. During his tenure, Datuk Syed Zaid was instrumental in enhancing regulatory frameworks and governance across Malaysia’s capital markets. He represented the SC on key domestic and international platforms, including the Bank Negara Malaysia Financial Stability Committee and the Board of Trustees of the Financial Reporting Foundation. Internationally, he served as a board member of the International Organisation of Securities Commissions (IOSCO), its Asia Pacific Regional Committee, and the ASEAN Capital Markets Forum, fostering regional capital market integration and development.
He returned to Albar & Partners in 2023 as a senior partner, focusing on advisory work and professional development. His prior board experience includes directorships at several publicly listed companies, such as Yinson Holdings Berhad, Cycle & Carriage Bintang Berhad, Malaysian Pacific Industries Berhad and Malaysia Building Society Berhad, underscoring his commitment to corporate governance and leadership.
Welcoming the appointment, CIMB Group Chief Executive Officer Novan Amirudin expressed optimism about Datuk Syed Zaid’s stewardship. He highlighted the alignment between the incoming Chairman’s leadership and the Group’s ambition under its Forward30 strategy, which seeks to reimagine banking and embed CIMB into the daily lives of its customers across ASEAN.
The Group also paid tribute to outgoing Chairman Tan Sri Mohd Nasir Ahmad for his decade of service on the Board, including his leadership as Chairman since 2018. His tenure has seen CIMB’s evolution into one of ASEAN’s leading banking groups. As at 31 December 2024, CIMB reported total assets of RM755.1 billion, with a market capitalisation of RM75.2 billion as of 31 March 2025.
