Datuk Abdul Farid Alias named Chief Executive Officer of Maybank

Took over as CEO August 2.

Malayan Banking Bhd, Malaysia's largest bank by assets, said Farid took over immediately as its new President and CEO.

Farid, 45, replaces Abdul Wahid Omar who was appointed Malaysia's economic planning minister in June.

He said he will continue to execute the bank’s 2015 strategic plan to fulfill its vision to become a regional financial services leader by 2015.

Maybank Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor said Farid was chosen based on three main criteria: a strategic mindset to enhance the bank’s performance and boost value; the ability to engage with bank employees and external stakeholders and the courage and confidence to lead the bank in the current and future business environment.