CIMB Names New Group CEO And Malaysia CEO

CIMB Group Holdings Berhad has announced the appointment of Novan Amirudin as its Group Chief Executive Officer taking effect on 1 July 2024 following the departure of Dato’ Abdul Rahman Ahmad on 30 June 2024.

Novan is currently the Co-Chief Executive Officer of Group Wholesale Banking (“GWB”) as well as the CEO of CIMB Investment Bank Berhad, where 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 #1 Investment Bank by share of wallet and led the Group’s re-entry into the public equities business, through the acquisition and re-launch of CIMB Securities.

A Chartered Accountant, Novan has more than 20 years’ experience in banking and advisory across Malaysia, Indonesia and Singapore. Prior to joining CIMB, Novan spent close to 16 years with J.P. Morgan, with his last position being Head of Equity Capital Markets, Southeast Asia and Head of Investment Banking, Malaysia. Prior to J.P. Morgan, Novan was with PwC, specialising in Corporate Finance advisory.

To support Novan, the Group also announced the appointment of Gurdip Singh Sidhu as CEO of CIMB Bank and Malaysia. In his new role, Gurdip will be primarily responsible for the day-to-day management of CIMB’s home market and core operating geography. Having spent close to 18 years at CIMB in various senior leadership roles, he is currently the Chief Operating and People Officer, CIMB Group.

Gurdip will focus on driving strategic priorities for CIMB Bank including enhancing operating resiliency, innovation and growth to take the Malaysian franchise to the next level.

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