Nazir instrumental in CIMB's success [New Straits Time (Malaysia)]
(New Straits Time (Malaysia) Via Acquire Media NewsEdge) KUALA LUMPUR: CIMB Group Holdings Bhd group managing director and chief executive officer (CEO) Datuk Seri Nazir Razak, who was yesterday appointed CIMB group new chairman effective September 1, has had a distinguished 25-year career at CIMB Group.
Nazir joined CIMB Investment Bank's corporate finance department in 1989 at the age of 23.
He was transferred to the group's stockbroking arm in 1993 where he rose to become executive director before moving back to CIMB Investment Bank as deputy chief executive on June 1 1996.
He was appointed CIMB Investment Bank's group chief executive on June 1 1999 and has served as the group's CEO for over 15 years.
Under Nazir's stewardship, CIMB has been transformed into a leading Asean universal bank following a series of banking acquisitions in Malaysia, Singapore, Indonesia and Thailand.
CIMB, Southeast Asia's fifth-largest bank, has enhanced its regional operations over the past decade and expanded its investment banking capabilities by acquiring parts of Royal Bank of Scotland's Asia operations outside Japan.
Last year, CIMB became the only Asian bank to win a mandate to advise Warrnambool Cheese and Butter Factory Co, the target of a multibillion three-way global takeover battle in Australia.
Under Nazir 's stewardship also, CIMB Group has won many prestigious accolades. In 2011, it was recognised by FinanceAsia as Malaysia's Best Investment Bank, Best Bond House, Best Equity House and Best Broker.
The group was also named Best Islamic Bank in Asia and Best Bank in Malaysia by Euromoney.
It was also recognised as the Most Admired Asean Enterprise for Employment by the Asean Business Advisory Council.
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