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CIMB Group names Dato’ Abdul Rahman Ahmad as new GCEO

Kuala Lumpur: CIMB Group Holdings Berhad (“CIMB” or “the Company”) today announced that the Company’s Board of Directors has appointed Dato’ Abdul Rahman Ahmad as the Group Chief Executive Officer/Executive Director for CIMB and Chief Executive Officer/Executive Director of CIMB Bank Berhad. Dato’ Rahman, who is currently the Non-Executive Chairman of Sime Darby and Velesto Energy Berhad, succeeds YBM Senator Tengku Dato’ Sri Zafrul Tengku Abdul Aziz, who relinquished his post to join the Malaysian government as the Minister of Finance. His appointment will take effect on 10 June 2020.  

The Chairman of CIMB, Datuk Mohd Nasir Ahmad said, “I am delighted to welcome Dato’ Rahman, an experienced CEO who has excelled at strategic leadership and execution. With more than 20 years in leadership roles across several industries, Dato’ Rahman has demonstrated a strong track record in organizational transformation, driving results, strengthening operational risk and compliance, and innovation amid a rapidly evolving landscape. As the industry undergoes fundamental changes, he will bring a fresh perspective to lead CIMB’s continued transformation and build upon its successful ASEAN franchise”.  

Dato’ Rahman started his career at Arthur Andersen, London and worked at Trenergy (M) Berhad/Turnaround Managers Inc. (M) Sdn Bhd and Pengurusan Danaharta Nasional Berhad. He was appointed as the Group Managing Director/Chief Executive Officer of Malaysian Resources Corporation Berhad and subsequently served the same position for Media Prima Berhad where he successfully turned around and transformed the Group into a leading integrated media investment group.

Dato' Rahman then helped established Ekuiti Nasional Berhad, a government linked private equity firm, serving as its Chief Executive Officer for seven years before being appointed in 2016 as the President and Group Chief Executive Officer of Permodalan Nasional Berhad ("PNB"), the leading Asset Management Company in Malaysia with Assets under Management of more than RM300bn. At PNB, Dato’ Rahman was instrumental in driving the strategic diversification of assets as well as enhancing consumer experience through operational and digitization initiatives.

Dato’ Rahman holds an MA in Economics from Cambridge University, United Kingdom, and is a member of the Institute of Chartered Accountants in England and Wales (ICAEW).

“I would like to thank the Board for conducting a rigorous and comprehensive process. We are confident that backed by the tenured and experienced senior leadership team of CIMB, Dato’ Rahman will be able to bring the Group forward with renewed purpose, during these challenging times,” concluded Datuk Nasir.

About CIMB Group

CIMB Group is one of ASEAN’s leading universal banking groups and is Malaysia’s second largest financial services provider, by assets. It offers consumer banking, commercial banking, investment banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present in all 10 ASEAN nations (Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam, Myanmar, Laos and Philippines). Beyond ASEAN, the Group has market presence in China, Hong Kong, India, Korea, the US and UK.

CIMB Group has an extensive retail branch network in ASEAN with 697 branches as at 31 March 2020. The Group’s investment banking arm is one of the largest Asia Pacific-based investment banks, offering comprehensive research coverage of around 950 stocks in the region via its CGS-CIMB joint venture.

CIMB Group operates its business through three main brand entities, CIMB Bank, CIMB Investment Bank and CIMB Islamic. CIMB Group is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.

CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Berhad. It had a market capitalisation of approximately RM35.7 billion as at 31 March 2020. The Group has around 35,000 employees located in 15 countries.