Former MAS CEO Tengku Azmil joins board of CIMB

KUALA LUMPUR (June 28): Tengku Datuk Seri Azmil Zahruddin Raja Abdul Aziz, former managing director and chief executive officer (CEO) of the now-defunct Malaysian Airline System Bhd (MAS), has joined the board of CIMB Group Holdings Bhd (KL:CIMB), the country's second largest lender, as non-independent non-executive director effective July 1.

Azmil, 54, is currently the chairman of CelcomDigi Bhd (KL:CDB) and also independent director of Sime Darby Bhd (KL:SIME).

In a filing with Bursa Malaysia on Friday, CIMB said Azmil was previously the chief investment officer and deputy managing director of Khazanah Nasional Bhd from 2018 to 2022. He joined the sovereign wealth fund in October 2011 as executive director of investments.

Prior to joining the leadership team at Khazanah, Azmil was the managing director and CEO of MAS from 2009 to 2011, replacing Datuk Seri Idris Jala, who left to join the Datuk Seri Najib Razak administration as a minister. Azmil joined MAS as a chief financial officer in August 2005.

Prior to helming MAS, ­Azmil was the head honcho at Penerbangan Malaysia Bhd (PMB), the parent company of MAS. PMB was in turn a wholly owned subsidiary of the Minister of Finance, Inc.

Azmil began his career as an accountant and had stints with PricewaterhouseCoopers at its London and Hong Kong offices.

Azmi's appointment comes amid leadership changes at the banking group. From July 1, Muhammad Novan Amirudin, 44, will be the new group CEO of CIMB, replacing Datuk Abdul Rahman Ahmad, 55, who is leaving the banking group on June 30 to take over the role of group chief executive at Permodalan Nasional Bhd.

Muhammad Novan is currently co-CEO of group wholesale banking as well as CEO of CIMB Investment Bank Bhd, positions he held since about a year ago.

Prior to joining CIMB, Novan had been with JPMorgan for almost 16 years, with his last position being head of equity capital markets, Southeast Asia, and head of investment banking, Malaysia.

CIMB shares closed up three sen or 0.44% at RM6.80 on Friday, valuing the banking group at RM72.72 billion. Its share price has risen 16.4% so far this year.

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