As Malaysian Three-Way Bank Merger Falters, Firms Change Senior Management - Media

Tom Burroughes

16 February 2015

The Malaysian banking groups CIMB Group and RHB Capital have changed their top management after a three-way merger with Malaysia Building Society, which would have created a major player in the region, collapsed a few weeks ago, media reports said.

On 14 January, the three banks announced that their planned merger had been called off.

RHB announced that Kellee Kam had resigned, media reports said. The RHB Capital corporate website made no mention of the resignation and the organisation could not be contacted at the time of this publication going to press.

On 6 February, Lee Kok Kwan, CIMB’s chief executive for corporate banking, treasury and markets, was said to be stepping down to advise the group CEO and also become a board member. Kenny Kim, chief financial officer and CEO of group strategy at that firm, stepped down to become an advisor.

To see the story about the three-way merger, and its possible impact on Malaysian banking, see here.