By Chester Tay

KUALA LUMPUR, Malaysia--CIMB Group Holdings Bhd.'s Omar Siddiq Amin Noer Rashid has resigned as deputy chief executive officer of its Malaysia business to head HSBC Holdings PLC's operations in the country.

Mr. Omar Siddiq has also relinquished his position as chief executive of CIMB Group's wholesale banking.

CIMB Group, Malaysia's second-largest lender by asset size, said Wednesday that it has started its selection and transition planning process.

In the interim, the group's wholesale-banking business will be directly overseen by group CEO Abdul Rahman Ahmad.

Mr. Omar Siddiq will succeed Stuart Milne, who will retire at the end of March, HSBC Bank Malaysia Bhd. said Wednesday. He will report to Surendra Rosha, co-chief executive of HSBC Asia-Pacific.

Mr. Omar Siddiq will join the boards of HSBC Bank Malaysia and HSBC Amanah Malaysia Bhd. as an executive director, as well as a member of the Asia-Pacific executive committee, HSBC Bank Malaysia said.

Prior to joining CIMB, Mr. Omar Siddiq had stints at RHB Bank Bhd. and Malaysia Airlines Bhd.

Write to Chester Tay at chester.tay@wsj.com

(END) Dow Jones Newswires

January 12, 2022 01:24 ET (06:24 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
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