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Maybank group CEO to step down, leadership search under way

KUALA LUMPUR (AGENCIES) – Maybank Group President and CEO Abdul Farid Alias will step down at the end of his current contract in August, a stock exchange filing showed yesterday.

Malaysia’s largest lender by assets said a search for a successor is under way including assessing internal and external candidates.

Farid has indicated he will not be seeking a renewal of his contract which is set to expire on August 1 and has informed the board that he would like to pursue his own interests following the conclusion of his third term, the bank said. He has held the position since 2013.

Farid, 52, began his career at a subsidiary of Maybank in 1992 and will continue to oversee the bank’s management and operations until a successor assumes the position.