KUALA LUMPUR (Reuters) – Malayan Banking Berhad (Maybank) Group President and CEO Abdul Farid Alias will step down at the end of his contract in August, a stock exchange filing showed on Monday.
Malaysia’s largest lender by assets said a search for a successor is under way, including assessing internal and external candidates.
Farid has indicated he will not be seeking a renewal of his contract, which is set to expire on Aug. 1, and has informed the board that he would like to pursue his own interests following the conclusion of his third term, the bank said.
He has held the position since 2013.
Farid, 53, began his career in banking at a subsidiary of Maybank in 1992 and will continue to oversee the bank’s management and operations until a successor takes the position.
(This story corrects group CEO’s age in last paragraph to 53, not 52).
(Reporting by Liz Lee; editing by Jason Neely and David Goodman)
