FARID ALIAS is MAYBANK CEO & PRESIDENT

UPDATED: 1705hrs - 

Datuk Abdul Farid Alias Is The New President, CEO Of Maybank Effective Today

KUALA LUMPUR, Aug 2 (Bernama) -- Datuk Abdul Farid Alias, 45, has been appointed the new President and Chief Executive Officer of Malayan Banking Bhd effective Friday.

He was previously the bank's Deputy President and Head of Global Wholesale Banking.

He replaces Datuk Seri Abdul Wahid Omar who resigned on June 4 to take over as Minister in the Prime Minister's Department in charge of the Economic Planning Unit (EPU).

Abdul Farid was also formerly Khazanah Nasional Bhd's Director of Investments and the government investment arm's nominee on the board of UEM Group Bhd in 2008.

Today's announcement was made by Maybank Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor at a press conference at Menara Maybank.

Maybank is the country's largest bank and is ranked among the top 100 banks in the world.

Abdul Farid, who was also present at the press conference, said he was informed of the decision at 11 am today.

-- BERNAMA

After a string of unpleasant appointments at GLCs in the past two months or so, finally there is a wise decision. 

Speculation has been rife in the past weeks but a NST news alert minutes ago said - Datuk Farid Alias will be the new Chief Executive Officer of Maybank. 

I think those in decision making positions (on GLC appointments) have finally come to their senses and made the right decision in appointing Datuk Farid to lead Maybank, one of the TOP 100 banks in the WORLD. 

Congratulations bro!

An official announcement is expected anytime today. 

p/s TQ PM