Syed Zaid to steer CIMB's Forward30 growth strategy
KUALA LUMPUR: CIMB Group Holdings Bhd says it looks forward to the leadership of Datuk Syed Zaid Albar as it embarks on its Forward30 strategic plan, which charts the banking group's direction over the next six years.
Group chief executive officer Novan Amirudin said Syed Zaid's appointment comes at a pivotal moment for CIMB, as it aims to cement its position as a top-of-mind Asean bank.
"Our Forward30 strategic plan anchors CIMB's purpose of advancing customers and society. Our goal is to be the top-of-mind Asean bank, reimagining banking by embedding ourselves into our customers' lives and keeping our customers at the heart of everything we do," he said in a statement.
The Forward30 strategy focuses on four growth levers to boost performance by 2030. They include optimising capital, lowering funding costs through a stronger deposit base, driving cross-selling via a "one-bank" model, and enhancing capabilities.
CIMB announced Syed Zaid's appointment as group chairman effective July 20, 2025. The former head of the Securities Commission Malaysia will succeed outgoing chairman Tan Sri Mohd Nasir Ahmad, who retires from the board on July 19 after serving since 2015, including as chairman since 2018.
Novan also paid tribute to Mohd Nasir, expressing the board's deepest appreciation for his decade of service.
"His contributions have been instrumental in shaping CIMB's progress to be a leading focused Asean bank."
Under Mohd Nasir's leadership, CIMB has grown into one of Asean's largest financial institutions, with total assets of RM755.1 billion as of December 31, 2024, and a market capitalisation of RM75.2 billion as of March 31, 2025.
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