CIMB Group Consumer & Digital Banking Has A New CEO

Effendy was previously CEO of Group Ventures & Partnerships, where he was responsible for the development of the Group’s new and disruptive revenue and value creation streams

CIMB Group Consumer & Digital Banking Has A New CEO

Kuala Lumpur: CIMB Group Holdings Berhad appoints Effendy Shahul Hamid as CEO, Group Consumer & Digital Banking, effective 1 January 2023.

The appointment will see the Group Consumer Banking and CIMB Digital Assets businesses subsumed under the broader umbrella of Group Consumer & Digital Banking to drive the growth of CIMB’s Consumer business and accelerate its digital agenda in alignment with its Forward23+ strategic plan.

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Dato’ Abdul Rahman Ahmad, Group CEO of CIMB Group says, “Effendy will helm of CIMB’s Group Consumer & Digital Banking business. Effendy is a visionary leader with a diverse and proven track record of success within CIMB, having led various units since joining the Group in 2004.

“His ability and experience in forward-looking banking and financial services trends and proven execution capability across different businesses will be invaluable in future-proofing our business and spurring its growth as we navigate the challenging and increasingly competitive landscape.

“Our consumer banking and digital business franchise will be instrumental in creating value for our customers across ASEAN and ensuring that we deliver on our Forward23+ strategic plan.”

Effendy’s appointment is pursuant to the retirement of Samir Gupta after 12 years of service with the Group. Samir joined CIMB Group in 2010 as Consumer Banking Director of PT CIMB Niaga Tbk, CIMB’s Indonesian unit, and he has been the CEO, Group Consumer Banking since 2016.

“We thank Samir for his many contributions to CIMB in growing our Consumer Banking business over the past decade, starting from Indonesia and subsequently Group-wide as he took on a regional mandate.

"Over that time, the Consumer business has grown from strength-to-strength and is now the largest contributing segment of CIMB Group. Notably, he championed our digital and analytics agenda across the Group and successfully led the transformation and turnaround of our businesses across ASEAN. We wish him all the best in his future endeavours,” added Dato’ Abdul Rahman.

Effendy has extensive experience in banking and financial services, having served in various senior leadership roles at CIMB Group over the past 18 years. Most recently, Effendy has been serving as CEO, CIMB Digital Assets of CIMB Group and Group CEO of Touch ‘n Go Group since October 2020.

Effendy was previously CEO of Group Ventures & Partnerships, where he was responsible for the development of the Group’s new and disruptive revenue and value creation streams, with a focus on cultivating new-age partnerships at scale, venturing through selective strategic investments in platform-based businesses, and managing its digital banking franchises.

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At the same time, he was also responsible for the Group’s asset management and investments business across both public and private markets, including its regional asset management business, its private equity fund management business and proprietary equity investments portfolio.