CIMB teams up with six firms to help enhance graduates’ skills

  • Business
  • Thursday, 13 Jun 2013

KUALA LUMPUR: CIMB Group has signed a partnership agreement with six partners to offer local graduates a dual-track development programme to enhance their skills.

CIMB Fusion, a human capital development programme unique to Malaysia, enables graduates to work in one of the partnering organisations Pricewaterhouse-Coopers (PwC), Accenture, DraftFCB, Teach for Malaysia, HP and ZICOlaw on top of experiencing banking and finance work with CIMB Group.

At the signing ceremony yesterday, CIMB Group head of group corporate resources Hamidah Naziadin said that the talent development partnership would contribute to the Malaysian talent pool by developing a generation of new leaders who were technically competent, extensively networked and well exposed to international best practices.

PwC, well known for its rigorous and well-supported talent development programme, has been successful with a 100% retention rate.

“This goes in tandem with Talent Corp Malaysia Bhd's (TalentCorp) mission of building effective partnerships and addressing Malaysia's talent needs,” she said.

“I can imagine how sought-after these talents would be because the value they possess is unique,” Hamidah added.

CIMB Fusion is a two- to four-year programme that allows selected candidates to first work with one of the six partners for a technical foundation, followed by a series of placements within CIMB Group.

Upon completion, candidates may choose to continue with CIMB Group or join its partners.

“It all started because PwC and CIMB were competing for the best brains at the UKEC Career Fair, which targets Malaysian graduates studying in the United Kingdom. I came to realise that the bigger picture was about bringing these talents home to Malaysia,” Hamidah said.

To date, 22 graduates have been accepted into the programme and CIMB Group is expecting to recruit a further 30 by year-end.

At a press conference, CIMB Group chief executive Datuk Seri Nazir Razak pointed out that the Generation Y group tended to be more methodical in approaching their careers, hinting that employers needed to cater to this different mindset.

Although some 30% of graduate talents have remained in CIMB's pool, Nazir expressed his keenness to see this number rise to 50% in the next two to three years.

“It is really through partnerships like these that advance talent to meet the national talent agenda,” TalentCorp chief executive officer Johan Merican added.

“Furthermore, the collaboration with Teach for Malaysia (the corporate social responsibility facet of the programme) effectively dispels the notion that Gen Y was all about the money.”

On a report that CIMB had reached a deal with San Miguel's corporate banking unit, Nazir said talks were still ongoing.

Meanwhile, Malaysian Rating Corp Bhd (MARC) has assigned a preliminary rating of AA+ to CIMB Bank Bhd's proposed RM10bil Basel III-compliant Tier-2 subordinated debt programme and affirmed its AAA/MARC-1 long and short-term financial institution (FI) ratings with a stable outlook.

The ratings agency said the debt issuance would further bolster CIMB Bank's capital adequacy.

The stable outlook reflected MARC's expectations that CIMB Bank would, among others, sustain its strong capitalisation and market position.

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