CIMB Group Holdings Berhad (“CIMB Group” or the “Group”) on 22 June 2022 announced the appointment of Chu Kok Wei and Novan Amirudin as Co-Chief Executive Officers (“Co-CEOs”) of its Group Wholesale Banking business effective 18 July 2022.
Chu and Novan will head specific business pillars within Wholesale Banking but will be jointly responsible for the overall Wholesale Banking business. They will both report directly to Dato’ Abdul Rahman Ahmad, Group Chief Executive Officer of CIMB Group.
Chu currently serves as Group Head, Treasury & Markets of CIMB Group. With his appointment as Co-CEO, Group Wholesale Banking, Chu will continue to lead Group Treasury & Markets with added responsibility over the Financial Institutions Group (“FIG”). Chu has been with CIMB Group for almost 20 years, having served in various leadership roles since joining in 2003 as Head, Interest Rate Trading – Debt Market & Derivatives. Chu has helmed Group Treasury & Markets since 2015, and under his leadership the business has grown into a market leading franchise and significant profit contributor to the Group.
As Co-CEO, Group Wholesale Banking, Novan will oversee Group Private & Investment Banking, Corporate Coverage, Public Sector & Government Group and Group Corporate Banking. Novan is joining CIMB Group from a global investment bank, where he was most recently Head of Equity Capital Markets for Southeast Asia and Head of Investment Banking for Malaysia. Novan comes with 18 years’ experience in Investment Banking and Corporate Finance across Kuala Lumpur, Jakarta and Singapore. He has extensive experience in client coverage, mergers & acquisitions (“M&As”), public offerings, private placements, derivative solutions and bank financing.
Dato’ Abdul Rahman said, “We are pleased to welcome Chu and Novan at the helm of CIMB Group’s Wholesale Banking business. Chu’s appointment demonstrates the strength and expertise of our existing leadership bench, whilst Novan’s appointment will introduce new perspectives and complementary networks that will help us to build on our leading Wholesale Banking franchise. We look forward to working closely with Chu and Novan as joint heads in driving the growth of our Wholesale Banking and ASEAN network businesses regionally in line with our Forward23+ strategic plan.”