Aug 07, 2013
August 2nd 2013 - The Board of Directors of Malayan Banking Berhad ("Maybank") today announced that Datuk Abdul Farid bin Alias will be appointed as the President and Chief Executive Officer (“PCEO”) of Maybank, effective 2 August 2013. The PCEO position has been vacant with the departure of Dato' Sri Abdul Wahid bin Omar, who resigned on 4th June 2013, to join the Malaysian Government as Minister in the Prime Minister's Department.
Datuk Farid, 45, has been Maybank Deputy President and Head of its Global Banking business since July 2010.
“I am delighted to announce the appointment of Datuk Abdul Farid bin Alias as Maybank President and Chief Executive Officer,” said Chairman Tan Sri Dato' Megat Zaharuddin bin Megat Mohd. Nor.
“Datuk Farid has extensive knowledge of the banking industry in this region and proven executive experience across a range of businesses. He will continue to sustain the recent momentum of the Maybank Group in its aspirations to be a leader in the financial services sector in our area of focus, the ASEAN region, enhancing further the strategic regionalisation agenda, mindful of the tightening regulatory environment and keen competition to enable the group to provide superior returns to the stakeholders while keeping true to the mission of humanising financial services.”
“Datuk Farid’s selection came after a comprehensive review and assessment of internal and external candidates led by the Board Nomination and Remuneration Committee,” said Tan Sri Megat.
Datuk Farid, a Malaysian, started his career in the Maybank Group in Aseambankers in 1992 after graduating from Pennsylvania State University, USA in 1990 with a B.Sc degree in Accounting, and from University of Denver, USA in 1991 with an MBA in Finance. He also attended Harvard Business School's Advanced Management Programme earlier this year.
He broadened his career in investment banking and capital markets with multi-national institutions like Schroders and JP Morgan, as well as with Malaysia's Malaysian International Merchant Bankers and Khazanah Nasional Berhad, the latter as Investment Director from 2005 to 2008.
While he was at Khazanah Nasional Berhad, he sat on the boards of several public listed companies such as PLUS Expressway Berhad, UEM World Berhad and UEM Builders Berhad. Since re-joining Maybank on 1st January 2009, he has held the position of Head of International Business and subsequently Deputy President and Head, Global Banking (formerly known as Global Wholesale Banking).
In this latest role, he was responsible for driving the Group's regionalisation initiatives for investment banking, corporate banking, transaction banking, and global markets, as well as its asset management business. He spent eight years with JP Morgan in the investment banking division between 1997 and 2003, and was assigned to the equity capital markets division in Singapore in 2001.
He is married to Datin Satina binti Mohd. Noor and has two sons and a daughter. He enjoys music, movies, travelling with the family and the occasional chance of playing golf.
Datuk Farid's previous position as Head of Global Banking will in the meanwhile be part of the responsibilities of Tengku Dato' Zafrul bin Tengku Abdul Aziz, who is currently the CEO of Maybank Investment Bank and Maybank Kim Eng Group of Companies.
The Board of Directors would also like to record their appreciation to Encik Mohamed Rafique Merican bin Mohd Wahiduddin Merican, the Group Chief Financial Officer, for performing the duty as Maybank’s Officer-in-Charge since 4 June 2013, while the Board undertook the process of selecting the new PCEO.
Re-disseminated by The Asian Banker