KUALA LUMPUR: Maybank has announced that Datuk Sri Abdul Farid Alias will not be seeking a renewal of his contract as group president and CEO, which is set to expire on Aug 1, 2022.

       In a statement, the group said Farid, who has held the position of group CEO since Aug 2, 2013, has informed the board of directors he would like to pursue his own interests following the conclusion of his third term as group CEO.

       “The Board is currently undertaking a robust review and assessment process to identify a suitable replacement for Dato’ Sri Farid, which includes assessing internal and external candidates.

       "The new appointee will be announced once we have submitted and obtained the necessary regulatory approvals for the appointment,” said Maybank Chairman Tan Sri Zamzamzairani Mohd Isa.

       Zamzamzairani added that Farid will continue to oversee the management and operations of Maybank until a successor assumes the position.

       Farid began his banking career in Aseambankers, a subsidiary in the Maybank Group in January 1992 before broadening his experience with Schroders, Malaysia International Merchant Bankers, JP Morgan and Khazanah Nasional Bhd.

       He re-joined Maybank in January 2009, holding several key business positions including as the head of international business and deputy president and head, global banking before his appointment as group CEO.