UPDATE 1-Maybank investment banking head resigns, expected to join CIMB
KUALA LUMPUR, Sept 24
KUALA LUMPUR, Sept 24 (Reuters) - Malayan Banking Bhd said its investment banking head had resigned, the second key executive to leave after failing to land the recently filled position of CEO.
Local media said Tengku Zafrul Aziz, who led Maybank's $1.4 billion purchase of Singaporean brokerage Kim Eng Holdings Ltd in 2011, would be taking the deputy CEO post at archrival CIMB Group Holdings.
Maybank, the country's largest lender by assets and CIMB, the No. 2 lender, dominate Malaysia's investment banking scene, which has begun to attract global players after companies led by Felda Global Ventures raised $3.3 billion in 2012.
Both Tengku Zafrul and Khairussaleh Ramli, who recently resigned as head of Maybank's Indonesia unit Bank Internasional Indonesia, were in the running to be CEO, banking sources said. But last month they lost out to Abdul Farid Alias who was deputy president and head of global wholesale banking.
Khairussaleh is set to join Malaysia's RHB Bank Bhd and some members of his team are likely to jump ship with him, banking sources have said.
Tengku Zafrul, who had been at Maybank for three years, had resigned to take on new opportunities, the lender said.
The move comes just a day after Charon Wardini Mokhzani resigned from the CIMB deputy chief post to join state investment firm Khazanah Nasional Bhd. Charon also held the position of CIMB Investment Bank CEO.
The outlook for Malaysian IPOs remains robust. State investor 1MDB is looking to raise at least $3 billion next year in an IPO of its power assets, and Maybank is expected to play a key role due to its exposure to 1MDB's debt.
(Reporting by Yantoultra Ngui; Editing by Niluksi Koswanage and Edwina Gibbs)
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