KUALA LUMPUR: CIMB Group Holdings Bhd has appointed Novan Amirudin as its group chief executive officer (CEO).
The appointment will be effective July 1 following the departure of Datuk Abdul Rahman Ahmad on June 30, the bank said in a statement.
“I am pleased to welcome Novan Amirudin as group CEO of CIMB.
“He is an experienced banker who has excelled in strategic leadership and demonstrated a strong track record in organisational transformation and driving results.
“Novan’s appointment will also provide continuity of strategy and execution,” said CIMB’s chairman Datuk Mohd Nasir Ahmad.
It also announced the appointment of Gurdip Singh Sidhu as CEO of CIMB Bank and Malaysia to support Novan.
Novan is currently the co-CEO of Group Wholesale Banking (GWB) as well as the CEO of CIMB Investment Bank Bhd, CIMB said in the statement.
In these roles, the bank said 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.
He has implemented a new operating model to simplify, de-layer and specialise to sharpen its focus and execution, it added.
“Under his leadership, CIMB has also reclaimed its position as Malaysia’s number one 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.”
Novan is a chartered accountant and has more than 20 years experience in banking and advisory across Malaysia, Indonesia and Singapore, it said.
Novan spent close to 16 years with J.P. Morgan before CIMB, with his last position as its head of equity capital markets for South-East Asia and head of investment banking for Malaysia.
Meanwhile, Gurdip in his new role 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.
“The appointments of the new leadership team are a positive reflection of the group’s robust succession planning that are in place.
“The board is confident that under the new leadership, CIMB will be able to compete strongly and deliver on targets set under the Forward23+ Strategic Plan, which is in its final year,” Nasir said.