CIMB Group Holdings has announced a restructuring of its divisions as Effendy Shahul Hamid steps down as CEO of Group Consumer and Digital Banking.
As the CEO of Group Consumer and Digital Banking, Effendy has resigned and will remain as an advisor to the Group CEO until June 2025 to support a smooth transition.
Effendy, who has been with CIMB for two decades, will also relinquish his board roles, including his positions with TNG Digital, Touch ‘n Go, and CIMB Vietnam.
He was pivotal in leading the development of the Touch ‘n Go eWallet in partnership with Ant Group.
The reorganisation will see Group Consumer and Digital Banking split into two separate units.
Haniz Nazlan, current Group Chief Strategy Officer, will become CEO of Group Consumer Banking.
He has been instrumental in driving key enterprise initiatives, including the Forward 23+ Strategic Plan, CIMB Cambodia’s transformation, and the group’s re-entry into the securities business.
Gurdip Singh Sidhu, CEO of CIMB Malaysia and CIMB Bank, will oversee the group’s digital businesses.
His expanded role will focus on innovation, operational resilience, and driving growth across CIMB’s digital assets, including Touch ‘n Go, CIMB Philippines, and CIMB Vietnam.
Khairul Rifaie, Group Chief Financial Officer, will expand his role to include Group Chief Strategy Officer.
In this dual role, Khairul will balance growth ambitions with optimisation efforts to fully realise CIMB’s potential.
Victor Lee Meng Teck has been appointed CEO of Growth Markets, overseeing CIMB Singapore and CIMB Cambodia.
Victor previously led a transformation at CIMB Singapore, driving an operating model refresh, strategic restructuring, and culture reform.
Ros Aziah Mohd Yusoff, Group Chief Technology Officer, will join the CIMB Group Executive Committee.
Lastly, Animesh Mukherjee, Group Chief Human Resources Officer, has been redesignated as Group Chief People Officer.
“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.”
said Novan Amirudin, Group Chief Executive Officer, CIMB Group.
He added that the new structure aligns with CIMB’s strategic priorities, strengthens its leadership bench, and aims to enhance focus and accountability while ensuring operational resilience.
Featured image credit: Edited from Freepik
