ABDUL Farid Alias, the group president and chief executive officer of Malayan Banking Berhad (Maybank), will step down at the end of his contract in August, the bank said. 

The bank said the search for a new group president and CEO is currently underway. 

“The board is currently undertaking a robust 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,” Maybank chairman Zamzamzairani Mohd Isa said. 

Farid will continue to oversee the management and operations at the bank until a new successor is appointed, he added. 

Farid, 52, assumed the role of group president and CEO on August 2, 2013. 

The banker started his career at Aseambankers in 1992, and subsequently went to work for JP Morgan and Khazanah Nasional, among others.

Prior to becoming group president and CEO, in 2009, he held the position of head of international business and deputy president and head of global banking at Maybank. – January 3, 2022.