Malaysian to lead Indonesian bank CIMB Niaga

CIMB Niaga, Indonesia's fifth-largest bank, has named Sri Nazir Razak to replace retiring president commissioner Mohd. Shukri.

Sri Nazir, 45, currently the managing director of CIMB Group Holdings Berhad, has been with the Malaysian firm for 23 years.

He joined the corporate advisory department of Commerce International Merchant Bankers Berhad, now known as CIMB Investment Bank, in 1989 and managed various fund raising, privatisation, listing and corporate restructuring exercises. In 1993, he transferred to the bank’s stockbrocking arm where he rose to the position of Executive Director. He moved back to CIMB Investment Bank as Deputy Chief Executive on 1 June 1996 and became Chief Executive on 1 June 1999. He assumed the position of Group Managing Director/Chief Executive Officer of CIMB Group on 7 November 2006.

Glenn Muhammad Surya Yusuf, who has 29 years’ experience in finance and corporate management, was appointed vice president commissioner to replace Roy Edu Tirtadji, who will remain a commissioner, the statement said.

The postings are effective immediately until the end of CIMB Niaga’s next annual shareholders’ meeting in 2013.

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Tags: appointment, CEO, CIMB, Malaysian, Indonesian bank