October 19, 2018 / 11:07 AM / a month ago

Malaysia's CIMB appoints Mohd Nasir Ahmad as new chairman

KUALA LUMPUR, Oct 19 (Reuters) - CIMB Group Holdings Bhd , Malaysia’s second biggest bank, said it had appointed Mohd Nasir Ahmad as its new chairman effective Oct. 20.

Mohd Nasir will replace outgoing chairman Nazir Razak, who has been CIMB’s chairman since 2014, before which he was the chief executive for 15 years, CIMB said in statement on Friday.

The statement added that Mohd Nasir was previously CIMB’s senior independent director and audit committee chairman. He had previously served at other government linked companies including state utility firm Tenaga Nasional Berhad, and is currently the group chairman of Media Prima Berhad, the country’s biggest media conglomerate.

Nazir, the brother of former Malaysian Prime Minister Najib Razak, said last month he had decided to leave on completion of the bank’s four-year recalibration plan.

Reporting by Emily Chow; editing by David Evans

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