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New Straits Times
5 days ago
- Business
- New Straits Times
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.
Malaysian Reserve
6 days ago
- Business
- Malaysian Reserve
CIMB appoints Datuk Syed Zaid Albar as new group chairman, effective July 20
CIMB Group Holdings Bhd has appointed Datuk Syed Zaid Albar (picture) as its new group chairman, effective July 20, 2025. He will succeed Tan Sri Mohd Nasir Ahmad, who will retire from the board a day earlier after serving for a decade, including as group chairman since 2018. In line with the leadership transition, Datuk Syed Zaid will be appointed as an independent non-ED of the group on June 18. Mohd Nasir said Syed Zaid Albar extensive corporate experience across legal industry, financial and regulatory landscape will bring valuable perspective in guiding CIMB through its next chapter of growth and transformation. 'We are confident that his stewardship will provide strong guidance in driving the success of the group's Forward30 strategic plan.' Syed Zaid, a seasoned lawyer and founding partner of Albar & Partners, brings four decades of legal and financial services experience. He previously served as executive chairman of the Securities Commission Malaysia (SC) from 2018 to mid-2022, where he played a key role in enhancing regulatory oversight and governance in Malaysia's capital markets. Internationally, he represented the SC on bodies such as the International Organisation of Securities Commissions (IOSCO) and the ASEAN Capital Markets Forum. He rejoined Albar & Partners in 2023 as a senior partner in an advisory role and has previously served on the boards of several listed companies, including Yinson Holdings Bhd and Malaysian Pacific Industries Bhd. CIMB Group CEO Novan Amirudin said: 'On behalf of the management, we would like to congratulate and welcome Datuk Syed Zaid as the Chairman of CIMB Group. We look forward to being guided by him as we execute our Forward30 strategic plan over the next six years, which anchors on our 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 also paid tribute to Mohd Nasir, saying: 'On behalf of the Board, I would like to extend our deepest appreciation to Tan Sri Mohd Nasir Ahmad for his exemplary leadership and invaluable contributions over the past decade. His contributions have been instrumental in shaping CIMB's progress to be a leading focused ASEAN bank.' Under Tan Sri Mohd Nasir's tenure, CIMB grew into one of the largest financial institutions in ASEAN, 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. — TMR
