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MOVES-Malaysian lender CIMB appoints Novan Amirudin as group CEO

SINGAPORE, June 4 (Reuters) - Malaysia's CIMB Group Holdings Bhd, the country's second-largest bank by assets, said on Tuesday that it has appointed Novan Amirudin as its group CEO, effective July 1.

Novan will succeed Abdul Rahman Ahmad, who will step down from the role on June 30, the lender said in a statement.

Abdul Rahman, who led CIMB since 2020, is stepping down from the Group CEO role to join Malaysia's largest asset manager Permodalan Nasional Bhd as new president and group CEO from July 1, a role he used to helm from 2016 to 2019.

Novan, who has more than two decades of banking and advisory experience, is currently CIMB's co-CEO of Group Wholesale Banking and CEO of CIMB Investment Bank, according to the statement.

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Before joining CIMB in 2022, Novan spent close to 16 years with J.P. Morgan, with his last position being Head of Equity Capital Markets, Southeast Asia and Head of Investment Banking, Malaysia, CIMB added.

Separately, the lender also appointed Gurdip Singh Sidhu as CEO, CIMB Malaysia and CEO, CIMB Bank, according to the statement. (Reporting by Yantoultra Ngui; Editing by Eileen Soreng)