In a statement to Bursa Malaysia today, the group said Novan took over the role from Jefferi Hashim, whose role has been refocused and expanded.

Jefferi, the group said, will continue to report to Novan in his new role, while Nor Masliza Sulaiman will continue as deputy CEO of CIMB Investment Bank and group head of investment banking.

“Novan has close to 20 years of experience in investment banking and corporate finance across Asean, with extensive experience in client coverage, mergers and acquisitions, public offerings, private placements, derivative solutions and bank financing.

“Prior to joining CIMB, he was with JP Morgan as head of equity capital markets, Southeast Asia and head of investment banking, Malaysia,” said the group.

CIMB Group CEO Abdul Rahman Ahmad said the appointment of Novan as the head of CIMB Investment Bank will ensure better oversight and focus in line with the group’s Forward23+ strategic plan.

“Backed by our track record of outstanding execution and delivery for clients across Asean, we will focus on aggressively growing our wealth management business as well as our sustainable finance products and services, reflecting the rapidly rising demand and opportunities in these key areas,” he said.