CIMB Group names CEO of consumer and digital banking

CIMB Group has appointed Effendy Shahul Hamid (pictured) as CEO, group consumer and 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 and Digital Banking to drive the growth of CIMB’s consumer business and accelerate its digital agenda in alignment with its Forward23+ strategic plan.

Effendy’s appointment is pursuant to the retirement of Samir Gupta after 12 years of service with the group. Gupta joined CIMB Group in 2010 as consumer banking director of CIMB Niaga, CIMB’s Indonesian unit, and he has been the CEO, group consumer banking since 2016.

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.

He was previously CEO of group ventures and 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.

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.

Prior to that, Effendy was CEO, group commercial banking managing CIMB Group’s regional banking businesses for the small and medium enterprise and mid-sized corporate segment. Preceding that, he was group chief marketing and communications officer, managing the group’s entire marketing and communications initiatives and lead franchise-wide efforts to ensure a consistent and differentiated CIMB brand for all of the CIMB Group’s businesses across the region. Before that, he served as a director in the group’s Investment Banking Division, primarily focusing on corporate advisory and origination

Abdul Rahman Ahmad, group CEO of CIMB Group said 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," he added.

He also thanked Gupta for his many contributions to CIMB in growing its consumerbanking 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,” Abdul Rahman added.

Separately, CIMB recently won silver for Excellence in Customer Engagement and Excellence in Event Marketing, and bronze for Marketing Team of the Year at A+M's Marketing Excellence Awards Malaysia 2022. At the same time, CIMB Islamic won silver for Excellence in Sponsorship Activation.

Related articles:
Dominic Chew takes CMO role at CGS-CIMB
CIMB SG banks on JOLT Digital for digital media planning and buying
CIMB takes inspiration from hit TV show WandaVision for latest ad push in SG