KUALA LUMPUR (May 31): RHB Bank Bhd announced its new group management organisation structure, which entailed the formation of new strategic business groups (SBGs) as part of its effort to further strengthen the senior management branch.

In a press statement today, RHB announced the two new SBGs, namely Group Community Banking and Group Wholesale Banking. 

“Within this, Group Community Banking will comprise all existing Retail Banking businesses as well as SME Banking business, while Group Wholesale Banking will comprise Group Investment Banking, Group Corporate Banking, Group Treasury & Global Markets, Group Asset Management, Commercial Banking, Transaction Banking, and Economics,” said RHB in the statement.

Current head of Group Business and Transaction Banking Jeffrey Ng Eow Oo will spearhead the newly established Group Community Banking as managing director.

“In his expanded role as managing director of Group Community Banking, [Ng] will be responsible to lead the group towards achieving our aspiration of becoming a truly community bank, further growing our individual and small and medium enterprise (SME) customer base, asset size, deposits, wealth business, profitability and market share, leveraging on all available sales channels across the country and our ongoing pursuit to digitise customer journeys.

“The new SBG will also allow the group to achieve greater synergies between the retail and SME segments, in line with our FIT22 strategic aspirations of growing our affluent and wealth business, leveraging on our SME customer base,” said RHB Bank group managing director Datuk Khairussaleh Ramli.

Meanwhile, Group Wholesale Banking will be lead by current group treasurer Mohd Rashid Mohamad, who will be appointed as managing director.

“For Group Wholesale Banking, Rashid’s appointment as managing director entrusts him with leading business portfolios, focusing on deepening long-term relationships with existing clients, building new sets of clients, and offering holistic solutions across all products tailored to the needs of our diverse client base.

“Additionally, asset management is a key pillar of this SBG, where accelerating assets under management (AUM) and profitability growth is a key priority,” added Khairussaleh.

Both senior appointments will take effect from July 1, 2021, with current head of Group Sales and Global Markets Angus Salim Salleh Amran to succeed Mohd Rashid in his previous role as group treasurer.

Additionally, the group has appointed Ganesh Sabaratnam as managing director/chief executive officer of RHB Investment Bank, which will also take effect on July 1.

RHB’s share price dropped seven sen or 1.3% to close at RM5.30 today, valuing the group at RM21.25 billion.