RHB, CIMB heads roll after merger fail

RHB’s head Kellee Kam resigns and CIMB slashes jobs after the collapse of their merger and slump in CIMB Niaga's profits.

CIMB Group and RHB Capital have reshuffled their top management following the collapse of their three-way merger with Malaysia Building Society MBSB.

With both Malaysian banks struggling to articulate a new strategy in the wake of the merger failure and earnings under pressure as credit growth slows across Malaysia and Indonesia, RHB on Wednesday announced the resignation of group managing director Kellee Kam.

That follows news on February 6 that Lee Kok Kwan, CIMB's chief executive officer for corporate banking, treasury and markets, would step down to become an adviser to the group CEO but will also become a member of the board. Kenny...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222