HSBC has hired a former CIMB banker as its new chief executive for Malaysia, replacing Stuart Milne.
Omar Siddiq joins HSBC as its Malaysia CEO, according to a statement, replacing Stuart Milne who will retire at the end of March this year.
Siddiq was most recently with CIMB where he spent three years before resigning, last as the head of its wholesale banking division and deputy CEO of the Malaysia business. Previously, he also worked for RHB Bank, Malaysia Airlines and Malaysian sovereign wealth fund Khazanah Nasional.
At CIMB, group CEO Abdul Rahman Ahmad will directly over the wholesale banking business in the interim.
HSBC first established a presence in Malaysia in 1884 and today has more than 60 branches and a workforce of over 4,000 in the country.
