Malaysia's largest bank, Maybank, has announced that Group President and CEO Dato’ Sri Abdul Farid Alias will not be returning for a fourth term in the position once his contract expires on 1 August 2022. According to the bank, Farid had informed the Board of Directors that he would like to 'pursue his own interests'.

The bank is now seeking a successor, and for the purposes of leadership transition, Farid will continue to oversee management and operations until a new President and CEO is found and takes up the position. Maybank Chairman Tan Sri Dato’ Sri Zamzamzairani Mohd Isa said that both internal and external candidates are being considered.

“Although we are disappointed that Dato’ Sri Farid has decided not to renew his contract, the Board respects his decision and on behalf of the Group, I thank him for his remarkable contributions, service and commitment in building a forward looking organisation that has been ahead of many of its regional peers, especially on the digital and sustainability front,” Zamzamzairani said.

Farid took up the role of President and Group CEO on 2 August 2013, after holding several other leadership roles including Head of International Business and Deputy President and Head of Global Banking. He has three decades of experience in banking with a wide range of institutions including Schroders, Malaysia International Merchant Bankers, JP Morgan, and Khazanah Nasional Berhad.