• Published on 31 May 2020
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CIMB appoints former PNB chief as new group CEO

CIMB Group Holdings Berhad (CIMB) announced that the company’s Board of Directors has appointed Dato’ Abdul Rahman Ahmad as the group chief executive officer (CEO) and executive director for CIMB and CEO and executive director of CIMB Bank Berhad.

Dato’ Rahman, who is currently the non-executive chairman of Sime Darby and Velesto Energy Berhad, succeeds YBM Senator Tengku Dato’ Sri Zafrul Tengku Abdul Aziz, who relinquished his post to join the Malaysian government as the Minister of Finance. His appointment will take effect on 10 June 2020.   

“I am delighted to welcome Dato’ Rahman, an experienced CEO who has excelled at strategic leadership and execution,” CIMB’s chairman Datuk Mohd Nasir Ahmad said. “With more than 20 years in leadership roles across several industries, Dato’ Rahman has demonstrated a strong track record in organisational transformation, driving results, strengthening operational risk and compliance and innovation amid a rapidly evolving landscape. As the industry undergoes fundamental changes, he will bring a fresh perspective to lead CIMB’s continued transformation and build upon its successful ASEAN franchise.” 

Dato’ Rahman started his career at Arthur Andersen in London and worked at Trenergy (M) Berhad/Turnaround Managers Inc (M) Sdn Bhd and Pengurusan Danaharta Nasional Berhad. He was appointed as the group managing director and CEO of Malaysian Resources Corporation Berhad and subsequently served the same position for Media Prima Berhad, where he successfully turned around and transformed the group into a leading integrated media investment group.  

Dato' Rahman then helped established Ekuiti Nasional Berhad, a government-linked private equity firm, serving as its CEO for seven years before being appointed in 2016 as the president and GCEO of Permodalan Nasional Berhad (PNB), an asset management company in Malaysia with assets under management of more than $69.4 billion (MYR 300 billion). At PNB, Dato’ Rahman was instrumental in driving the strategic diversification of assets as well as enhancing consumer experience through operational and digitisation initiatives. 

Dato’ Rahman holds a Master of Arts in Economics from Cambridge University in United Kingdom and is a member of the Institute of Chartered Accountants in England and Wales (ICAEW). 

“I would like to thank the board for conducting a rigorous and comprehensive process. We are confident that backed by the tenured and experienced senior leadership team of CIMB, Dato’ Rahman will be able to bring the group forward with renewed purpose, during these challenging times,” concluded Datuk Nasir.

Re-disseminated by The Asian Banker