This article first appeared in The Edge Financial Daily, on January 14, 2016.

KUALA LUMPUR: CIMB Group Holdings Bhd chief executive officer (CEO) Tengku Datuk Seri Zafrul Aziz will be taking on the additional role of CEO at CIMB Bank Bhd from Jan 20.

In a statement yesterday, CIMB Group said Tengku Zafrul will step down from his position as CEO of CIMB Investment Bank Bhd with effect from the same date.

“In the interim, the board of directors of CIMB Group has elected Datuk Kong Sooi Lin, who is deputy CEO of CIMB Investment Bank, as the person-in-charge,” the statement read.

CIMB Group chairman Datuk Seri Nazir Razak said Tengku Zafrul’s appointment reflects the board’s confidence in him, and underscores his accomplishments as the group CEO since his appointment, as he led the firm through a challenging period of change.

“CIMB Bank is our largest operating entity and this move consolidates his (Tengku Zafrul’s) position as the group’s primary executive officer,” said Nazir.

In the same statement, Tengku Zafrul said he looks forward to working closely with the leadership team and the rest of the staff of CIMB Bank.

“It is indeed an honour to be entrusted with this responsibility, and I look forward to working closely with the leadership team and the rest of the staff in guiding CIMB Bank towards becoming a leading Asean banking group,” he said.

According to CIMB Group’s Annual Report 2014, Tengku Zafrul, 42, was appointed CIMB Group CEO on Feb 27 last year.