13 September 2019



Changes to further propel Group’s growth across all businesses and markets


CIMB Group (“CIMB” or “the Group”) has announced new appointments in its top management line-up, as part of its long-term strategy to ensure that its franchise as a leading ASEAN multinational will continue to remain strong against a fast-evolving and challenging operational landscape. These new changes will help drive the Group to meet its strategic priorities going forward as laid out in its current growth plan, Forward23 for the period 2019 - 2023. 


Effective 1 October 2019, Ahmad Shahriman Mohd Shariff will be appointed as CEO of CIMB Islamic Bank Berhad and CEO of Group Islamic Banking. Shahriman brings with him 16 years of experience in various capacities and functions. He headed various positions at several global financial institutions, covering global banking and markets, as well as Islamic banking and Islamic structuring in Asia-Pacific. 


Rafe Haneef, current CEO of Islamic Bank Berhad and Group Islamic Banking, will become the CEO of Group Transaction Banking effective 1 October 2019. Since joining CIMB, Rafe has successfully institutionalised the dual banking model, leveraging on the conventional banking business to expand CIMB’s Islamic business. 


Alongside these new appointments, Victor Lee Meng Teck, current CEO of Group Commercial Banking, will take on an additional role as Country Head Singapore and CEO of CIMB Bank Singapore, effective 1 January 2020. Victor will succeed Mak Lye Mun, who will retire from his current position as Country Head Singapore and CEO of CIMB Bank Singapore on 31 December 2019. Victor has more than 20 years’ experience in retail and commercial banking across Singapore, Malaysia, Thailand and Indonesia. 


Mak Lye Mun will remain in the Group as an Advisor to the Group CEO, effective 1 January 2020. In his new advisory capacity, he will continue to provide strategic inputs, specifically in Wholesale Banking, to further strengthen CIMB’s presence and franchise in Singapore.


Group CEO, CIMB Group, Tengku Dato’ Sri Zafrul Aziz said, “Our people are our most valuable strategic asset. I am confident that this change in our top management, combining existing and fresh talent, will fortify our leadership bench strength through mobility and exposure to different lines of businesses. This will enable the Group to stay competitive as a leading ASEAN multinational.”