Nazir leaves CIMB after 29 years at Malaysia's 2nd largest bank

CIMB Group Holdings Bhd chairman Datuk Seri Nazir Razak, who was also part of the Khazanah exodus, said last month that he had not decided whether to extend his term with CIMB after it was reported that the search for his successor had started. However, Nazir, who is the brother of former premier Datuk Seri Najib Tun Razak who was ousted from his position in the last general election, emphasised that he would step aside if the board and shareholders of the financial services group and Bank Negara would like him to resign early.

PETALING JAYA: It’s the end of an era for the country’s second-largest lender, CIMB Group, as its chairman Datuk Seri Nazir Razak, the face behind the group, will leave, effective Dec 31 this year.

The company announced his leaving via a statement, adding that he will also vacate all his other positions within the CIMB group of companies.