KUALA LUMPUR: CIMB Group Holdings Bhd, Malaysia’s second-biggest lender by assets, is promoting Jefferi Hashim to become the next chief executive officer of its investment banking arm, people with knowledge of the matter said.

He replaces Kong Sooi Lin, who is retiring, according to the people, who asked not to be identified because the information are private.

Jefferi, currently deputy CEO of the investment bank, will start his new position in March, one of the people said.

Kong has been in her role since 2016. Jefferi joined the lender’s investment banking division in 2017 from Credit Suisse Group, where he was Malaysia coverage head.

A representative for CIMB declined to comment.