CIMB Group has announced the appointment of Datuk Syed Zaid Albar as its new Group Chairman, effective 20 July 2025.
He will take over from Tan Sri Mohd Nasir Ahmad, who will retire from the board on 19 July.
Ahead of the transition, Datuk Syed Zaid will be appointed as an Independent Non-Executive Director starting 18 June.
A lawyer with four decades of experience, Datuk Syed Zaid is one of the founding partners of Albar & Partners and is known for his work in financial services and corporate advisory.
He previously served as Executive Chairman of the Securities Commission Malaysia (SC) from 2018 to mid-2022, where he was involved in regulatory oversight and the development of capital markets in Malaysia and the region.
His roles included representing the SC at domestic and international forums, such as Bank Negara Malaysia’s Financial Stability Committee and the board of the International Organisation of Securities Commissions.
He returned to Albar & Partners in 2023 in an advisory capacity and has previously served on the boards of several public listed companies including Yinson Holdings and Malaysia Building Society.
Tan Sri Mohd Nasir, who joined CIMB’s board in 2015 and was appointed Chairman in 2018, leaves after a decade of service.
During his tenure, CIMB grew into one of the largest financial institutions in ASEAN, with total assets of RM755.1 billion as of 31 December 2024 and a market capitalisation of RM75.2 billion as of 31 March 2025.
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.”
Featured image: Edited by Fintech News Malaysia, based on image by HakuluArt via Freepik
