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Maybank group CEO set to step down on August 1

Maybank Group President and CEO Abdul Farid Alias has indicated that he will not be seeking a renewal of his current contract after August 1, 2022. A stock exchange filing showed that Farid will step down at the end of his current contract which is set to expire on August 1. The bank said that Farid has already informed the board that he would like to pursue his own interests following the conclusion of his third term. Farid has held the position since 2013. Farid, 52, began his career in banking at a subsidiary of Maybank in 1992 and will continue to oversee the bank's management and operations until a successor assumes the position. Malaysia's largest lender by assets said a search for a successor is underway including assessing internal and external candidates.

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