Assets Under Management AUM

RHB announces the formation of two new strategic business groups, with several appointments to management positions

KUALA LUMPUR (May 31): RHB Bank Bhd announced its new group management organizational structure, which has resulted in the formation of new Strategic Business Groups (SBGs) as part of its efforts to further strengthen the senior management branch.

In a press release today, RHB announced the two new SBGs, namely Group Community Banking and Group Wholesale Banking.

“Within this framework, Group Community Banking will include all existing retail banking activities as well as SME banking activities, while Group Wholesale Banking will include Group Investment Banking, Group Corporate Banking, Group Treasury & Global Markets, Group Asset Management, Commercial Banking, Transaction Banking, and the economy, ”RHB said in its release.

Jeffrey Ng Eow Oo, current Director of Group Business and Transaction Banking, will spearhead the newly created Group Community Banking as Managing Director.

“In his expanded role as Managing Director of Group Community Banking, [Ng] will be responsible for leading the group towards realizing our aspiration to become a true community bank, further expanding our customer base of individuals and small and medium enterprises (SMEs), asset size, deposits, wealth management activities , profitability and market share, leveraging all sales channels across the country and our constant pursuit of digitizing customer journeys.

“The new SBG will also allow the group to achieve greater synergies between the retail and SME segments, in line with our FIT22 strategic aspirations to develop our rich and heritage activities, by leveraging our SME clientele”, said Datuk, Managing Director of RHB Bank Group. Khairussaleh Ramli.

Meanwhile, Group Wholesale Banking will be headed by the current group treasurer, Mohd Rashid Mohamad, who will be appointed managing director.

“For Group Wholesale Banking, the appointment of Rashid as Managing Director gives him leading business portfolios, focusing on deepening long-term relationships with existing clients, creating new client groups. and offering holistic solutions for all products, tailored to the needs of our diverse customer base. based.

“In addition, asset management is a key pillar of this SBG, where accelerating assets under management (AUM) and growing profitability is a key priority,” added Khairussaleh.

The two senior appointments will take effect from July 1, 2021, with the current head of group sales and global markets, Angus Salim Salleh Amran, succeeding Mohd Rashid in his former role as group treasurer.

In addition, the group has appointed Ganesh Sabaratnam as Managing Director / Managing Director of RHB Investment Bank, which will also take effect on July 1.

RHB’s share price fell seven sen or 1.3% to close at RM 5.30 today, valuing the group at RM 21.25 billion.

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