KUALA LUMPUR (Nov 23): CIMB Group Holdings Bhd has appointed Effendy Shahul Hamid as chief executive officer of group consumer and digital banking effective Jan 1, 2023.

His appointment is pursuant to the retirement of Samir Gupta after 12 years of service with the banking group, CIMB said in a statement on Wednesday (Nov 23).

The appointment will see the group consumer banking and digital asset businesses subsumed under the broader umbrella of group consumer and digital banking to drive the growth of CIMB’s consumer business and accelerate its digital agenda in alignment with its Forward23+ strategic plan.

Effendy has extensive experience in banking and financial services, having served in various senior leadership roles at CIMB Group over the past 18 years.

Most recently, he has been serving as CEO of digital assets of CIMB Group and group CEO of Touch 'n Go Group since October 2020.

As the banking group navigates the challenging and an increasingly competitive landscape, CIMB Group CEO Datuk Abdul Rahman Ahmad said Effendy’s ability and experience will be invaluable in future-proofing the banking group’s business and spurring its growth.

“Effendy is a visionary leader with a diverse and proven track record of success within CIMB, having led various units since joining the group in 2004,” said Abdul Rahman.

“Our consumer banking and digital business franchise will be instrumental in creating value for our customers across Asean and ensuring that we deliver on our Forward23+ strategic plan,” he added.

CIMB shares closed unchanged at RM5.51 on Wednesday, valuing the banking group at RM58.76 billion.