PETALING JAYA: Malayan Banking Bhd’s Datuk Seri Abdul Farid Alias (pix) has indicated that he will not be seeking a renewal of his contract as group president & CEO (GPCEO), which is set to expire on Aug 1, 2022.
Farid, who has held the position as GPCEO of Maybank since Aug 2, 2013, has informed the bank’s board of directors that he would like to pursue his own interests following the conclusion of his third term as GPCEO.
The process to identify a new GPCEO of Maybank has commenced and is underway, led by the Nomination and Remuneration Committee of the board.
“The board is currently undertaking a review and assessment process to identify a suitable replacement for Farid, which includes assessing internal and external candidates. The new appointee will be announced once we have submitted and obtained the necessary regulatory approvals for the appointment,” said Maybank chairman Tan Sri Zamzamzairani Mohd Isa in a statement.
To ensure a smooth leadership transition, Zamzamzairani said Farid will continue to oversee the management and operations of Maybank until the successor assumes the position.
Farid, 52, began his banking career in Aseambankers, a subsidiary in the Maybank Group in January 1992 before broadening his experience with Schroders, Malaysia International Merchant Bankers, JP Morgan and Khazanah Nasional Bhd. He rejoined Maybank in January 2009 holding several key business positions including as head of international business and subsequently deputy president and head (global banking) before his appointment as GPCEO.Farid to step down as Maybank GPCEO upon expiry of contract.
