, Malaysia

CIMB group chairman Dato' Sri Nazir Razak to retire

He has been with the bank for nearly three decades.

CIMB group chairman Dato’ Sri Nazir Razak will be stepping down from his position effective December 31, 2018.

An industry veteran, Dato’ Sri Nazir Razak has been with the bank for 29 years since 1989 where he spent 15 years as group CEO and four years as group Chairman. Under his leadership, CIMB was able to achieve breakneck pace of growth with assets standing at $1.25b (RM5.15b) and market cap of $14.03b (RM58b).

His exit comes just CIMB’s four-year recalibration plan, T18, reaches completion.

“Over the past few weeks I have spent a lot of time thinking about it and decided that it would be most appropriate for me to leave upon the completion of T18, CIMB’s four-year recalibration plan launched in 2014,” he said. “As T18 comes to a close, CIMB is now financially strong, organisationally robust and firmly institutionalised.”

His designated successor has yet to be disclosed.

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!