CIMB announces key leadership changes following Effendy Shahul’s resignation


Effendy Shahul Hamid

KUALA LUMPUR: CIMB Group Holdings Bhd announced that Effendy Shahul Hamid has resigned as its group consumer and digital banking chief executive officer (CEO) to pursue other interests.

In a statement, CIMB said Effendy has agreed to remain as an advisor to the group CEO until the end of June 2025 to facilitate a smooth and orderly leadership transition.

During this period, Effendy will also relinquish his positions on the boards of CIMB Group companies, including as chairman of TNG Digital, and as a board member of Touch ‘n Go Sdn Bhd and CIMB Vietnam.

Effendy has spent the last 20 years at CIMB, leading various business units. He started his CIMB career in investment banking and later took on roles in marketing, asset management, commercial banking, digital business, and most recently, overseeing the consumer bank.

“Effendy is a highly respected banker and we are sad to see him go. The board and management wish him the best, and we appreciate his loyalty and commitment to the group over the last 20 years,” CIMB group CEO Novan Amirudin.

As part of the reorganisation, CIMB Group announced several senior-level appointments that will take effect on Feb 1, 2025.

To better align with the group’s strategy, CIMB will separate group consumer and digital banking for a greater focus on growing each business.

Haniz Nazlan, who joined CIMB Group as its chief strategy officer in 2021, has been appointed CEO of its consumer banking division.

CIMB also announced that Gurdip Singh Sidhu will now oversee the group’s digital businesses, including Touch ‘n Go, Touch ‘n Go Digital, CIMB Philippines, and CIMB Vietnam, in addition to his role as CEO of CIMB Malaysia and CIMB Bank Bhd.

The group is expanding Khairul Rifaie's responsibility to assume the group chief strategy officer (GCSO) role, in addition to his group chief financial officer (GCFO) position.

In line with its goal to leverage its Asean footprint, Victor Lee Meng Teck has been appointed CEO of growth markets, overseeing CIMB Singapore and CIMB Cambodia.

CIMB also announced the inclusion of Ros Aziah Mohd Yusoff, its group chief technology officer to the CIMB Group Executive Committee and the re-designation of Animesh Mukherjee, group chief human resources officer to group chief people officer, reporting directly to the group CEO.

“The new organisation structure reflects CIMB’s purpose, strengthens our leadership bench, and consolidates related roles to enhance synergies across the group. It is designed to enable greater focus and accountability as we advance the group’s strategic priorities into the next strategy cycle while ensuring operational resiliency,” Novan said.

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CIMB , Effendy Shahul Hamid , CEO , Novan Amirudin

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