KUALA LUMPUR (Sept 9): CIMB Group Holdings Bhd (KL:CIMB) on Tuesday announced that Victor Lee Meng Teck has resigned as CEO of CIMB Singapore and CEO of growth markets, effective immediately.

Lee, who joined CIMB in 2019 and has led the Singapore operations since 2020, is leaving to pursue other opportunities. He will be on garden leave, the bank said in a statement with Bursa Malaysia.

Following his resignation, the bank has appointed Andrew Boey, chief financial officer (CFO) of CIMB Singapore, as officer-in-charge to oversee day-to-day operations at the Singapore branch.

CIMB Group CEO Novan Amirudin, meanwhile, will oversee the growth markets division as acting CEO of CIMB Singapore.

“Victor has been instrumental in transforming and institutionalising CIMB Singapore for continued sustainable success, driven by CIMB Group’s EPICC culture,” Novan said.

 “As we look to the future, we are confident in the strength and depth of our bench strength, which comprises experienced and highly capable leaders, well prepared to carry forward our strategic priorities under our Forward30 plan,” he said.

CIMB added that it has activated its succession plan and will announce a permanent successor in due course.

CIMB, Malaysia's second-largest bank by assets, has a presence across Malaysia, Indonesia, Singapore, Thailand, Cambodia, Vietnam and the Philippines, as well as markets beyond Asean including China, Hong Kong and the UK.

As at end-March, CIMB operated 592 retail branches and employed over 33,000 staff across the region. Its investment banking arm is one of the largest Asia Pacific-based players, alongside its wholesale banking franchise comprising its treasury and markets and corporate banking units.

Shares in CIMB settled 11 sen or 1.51% lower to RM7.16 on Tuesday, giving the group a market capitalisation of RM76.95 billion.