CIMB Singapore CEO Victor Lee resigns; placed on gardening leave with immediate effect

The bank says it will announce its successors in due course; CFO to take charge in interim

Victor Lee has resigned from his roles as chief executive officer of CIMB Singapore and chief executive of growth markets, parent company CIMB Group announced on Tuesday (Sep 9).

He is leaving to pursue other opportunities and has been placed on gardening leave with immediate effect, the Malaysian bank said in a statement.

Lee’s dual responsibilities have been split between two senior executives.

Andrew Boey, CIMB Singapore’s chief finance officer, will serve as the officer-in-charge of the Singapore branch, handling day-to-day leadership.

Meanwhile, CIMB Group CEO Novan Amirudin will oversee the growth markets division as its acting CEO.

Lee began his career at CIMB Group in January 2019 and was appointed to lead CIMB Singapore in January 2020.

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In a statement, Amirudin thanked Lee for his contributions, saying he was “instrumental in transforming and institutionalising CIMB Singapore for continued sustainable success”.

He noted: “As we look to the future, we are confident in the strength and depth of our bench strength, comprised of experienced and highly capable leaders, well-prepared to carry forward our strategic priorities...”

He added: “The group extends its sincere appreciation to Victor for his contributions and wishes him continued success in his future endeavours.”

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CIMB Group said that it has “activated its succession plan” and will announce its successors in due course.