KUALA LUMPUR, June 17 (Bernama) -- CIMB Group Holdings Berhad (“CIMB” or “the Group”) yesterday announced the appointment of Datuk Syed Zaid Albar as its Group Chairman, effective 20 July 2025. He will succeed Tan Sri Mohd Nasir Ahmad, who will retire from the Board on 19 July 2025. In line with the transition, Datuk Syed Zaid will be appointed as an Independent Non-Executive Director effective 18 June 2025.
Speaking on behalf of CIMB Group’s Board of Directors, Tan Sri Mohd Nasir Ahmad said “The Board is pleased to welcome Datuk Syed Zaid Albar as the new Group Chairman. His distinguished leadership and 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.”
Datuk Syed Zaid is a lawyer with four decades of experience across a broad range of practice areas, with a strong focus on financial services and corporate advisory. As one of the founding partners of Albar & Partners, he has established himself in Malaysia’s capital market and legal landscape, particularly in debt and equity finance, including Islamic finance. His significant contributions have earned him multiple recognitions for his involvement in notable capital market transactions.
Datuk Syed Zaid stepped away from legal practice in 2018 to assume the role of Executive Chairman of the Securities Commission Malaysia (“SC”), a position he held until mid-2022. During his tenure at SC, Datuk Syed Zaid played a key role in strengthening the governance, regulatory oversight and the development of Malaysia’s capital markets, both domestically and internationally. As Chairman of SC, he represented the SC in various capacities, on the local and international stage. Domestically, one of the key roles was representing SC as a member of the BNM Financial Stability Committee and a member of the Board of Trustee of The Financial Reporting Foundation. At the international front, he represented SC as a board member of the International Organisation of Securities Commissions (“IOSCO”), the Asia Pacific Regional Committee of IOSCO, and the ASEAN Capital Markets Forum comprising heads of capital market regulators from all 10 ASEAN jurisdictions, with the primary responsibility of promoting the integration and development of capital markets within ASEAN.
He rejoined Albar & Partners in early 2023 as a senior partner, taking on an advisory role and professional development.
Datuk Syed Zaid previously served the boards of numerous public listed companies, including Yinson Holdings Berhad, Cycle & Carriage Bintang Berhad, Malaysian Pacific Industries Berhad and Malaysia Building Society Berhad, reflecting his longstanding commitment to corporate leadership and governance in the boardroom.
In welcoming Datuk Syed Zaid’s appointment, Novan Amirudin, Group CEO of CIMB 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 6 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.”
“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.”
Tan Sri Mohd Nasir Ahmad has served CIMB as board member for 10 years, since 2015, including as Group Chairman since 2018. Under his leadership, the Group has grown to be one of the largest financial institutions in ASEAN with total assets of RM755.1 billion as at 31 December 2024 and a market capitalisation of RM75.2 billion as at 31 March 2025.
About CIMBCIMB is one of ASEAN’s leading banking groups and Malaysia’s second largest financial services provider, by assets. Listed on Bursa Malaysia via CIMB Group Holdings Berhad, it had a market capitalisation of approximately RM75.2 billion as at 31 March 2025. It offers consumer banking, commercial banking, wholesale banking, transaction banking, Islamic banking and asset management products and services. Headquartered in Kuala Lumpur, the Group is present across ASEAN in Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and Philippines.
Beyond ASEAN, the Group has market presence in China, Hong Kong and UK. CIMB has one of the most extensive retail branch networks in ASEAN with 592 branches and over 33,000 employees as at 31 March 2025. CIMB’s investment banking arm is one of the largest Asia Pacific-based investment banks, which together with its award-winning treasury & markets and corporate banking units comprise the Group’s leading wholesale banking franchise. CIMB is also the 92.5% shareholder of Bank CIMB Niaga in Indonesia, and 94.8% shareholder of CIMB Thai in Thailand.
SOURCE: CIMB Group Holdings Berhad
FOR MORE INFORMATION, PLEASE CONTACT:
Name: Anis Azharuddin / Kelvin Jude Muthu
Group Corporate Communications
CIMB Group Holdings Berhad
Email: anis.azharuddin@cimb.com / kelvinjude.muthu@cimb.com
--BERNAMA