KUALA LUMPUR: CIMB Group Holdings Bhd, the top underwriter of Malaysian stocks and bonds, is set to name the former head of the Securities Commission (SC), Syed Zaid Albar, as chairman, people familiar with the matter said.
Syed Zaid will replace Nasir Ahmad, who will retire, the people said, asking not to be identified.
“The appointment also needs regulatory approval,” they said.
A CIMB spokesman declined to comment. Syed Zaid was not immediately available for comment.
Syed Zaid was the executive chairman of SC from 2018 to 2022.
He was also the founding partner of the law firm Albar & Partners.
Meanwhile, Nasir has been the CIMB chairman since 2018 and an independent director for almost 10 years.
CIMB was the top arranger of bond and share sales in Malaysia last year.
In March, the bank announced a six-year plan to accelerate growth.