New Maybank CEO leads Southeast Asia expansion
Malaysia's largest lending bank announced its newest chief executive officer today. Abdul Faril Alias will be heading Malayan Banking (Maybank) after the former CEO accepted a government position offered by Prime Minister Najib Razak.
Abdul Farid worked as Maybank's head of global banking prior to his promotion. The new post will take effect immediately, according to Maybank's chairman Megal Zaharuddin Megat Mohn Nor in an announcement made in the capital.
"We need somebody who could take bold decisions to move ahead," said Megat. "We need somebody with a strategic mindset to take us to the next higher level," he added.
Maybank recently expanded overseas through stake buyouts such as in PT Bank Internasional Indonesia and Kim Eng Holdings. The company aimed to have operations in all of the Southeast Asian countries by 2015. Reports said that Abdul Farid, 45, will be heading the lender's possible acquisitions in Thailand.
Abdul Farid graduated from Pennsylvania State University with a degree in accounting. He gained his MBA in Finance from the University of Denver.