The financial industry is no stranger to challenges, from regulatory changes and economic fluctuations to technological advancements and shifting consumer expectations. Novan Amirudin has faced these headwinds head-on, leveraging his extensive experience to navigate CIMB through a complex landscape. One of the significant challenges he addressed was the need for digital transformation in banking. As the industry moves towards digitalisation, Novan ensured that CIMB adapts to new technologies while maintaining its core values and customer-centric approach.
The Stage for a Decorated Career
Novan Amirudin’s professional expedition in the financial sector began with a strong educational foundation. He holds a Bachelor of Commerce from The University of Melbourne, Australia, and a Master of Commerce with Merit in Finance from The University of Sydney, Australia. Additionally, he is a Chartered Accountant, a qualification that has equipped him with the technical expertise and analytical skills necessary for his roles in the banking industry.
A Hands-on Experience in the Finacial Sector
Before joining CIMB, Novan gathered over 20 years of experience in banking and advisory across Malaysia, Indonesia, and Singapore. His career began at PricewaterhouseCoopers (PwC), where he specialised in Corporate Finance advisory. This role gave him a solid grounding in financial analysis, mergers and acquisitions, and strategic planning.
His next significant career move was to J.P. Morgan, where he spent nearly 16 years. He held several key positions during his tenure, including Head of Equity Capital Markets for Southeast Asia and Head of Investment Banking for Malaysia. These roles enabled him to develop a deep understanding of capital markets, investment banking, and client relationship management.
A Deeper Impact on CIBM
Novan joined CIMB in July 2022 as the Co-Chief Executive Officer of Group Wholesale Banking. His impact was immediate and profound. He implemented a new operating model to simplify, de-layer, and specialise the business, which sharpened its focus and execution. Under his leadership, CIMB reclaimed its position as Malaysia’s number one investment bank by share of wallet and led the Group’s re-entry into the public equities business through the acquisition and re-launch of CIMB Securities.
As Group CEO, a position he assumed on July 1, 2024, Novan has continued to drive strategic initiatives that align with CIMB’s Forward23+ Strategic Plan. His leadership has maintained the Group’s strong financial performance, with robust operating income growth and solid loan and CASA growth.
A True Navigator of Organisational Challenges
One of the significant challenges Novan addressed at CIMB was the need for the organisational transformation. He recognised that to stay competitive, CIMB needed to streamline its operations and enhance its focus on core business areas. By implementing a new operating model, he ensured that the organisation could respond more effectively to market changes and customer needs.
Another challenge was integrating sustainability into CIMB’s business strategy. Novan has strongly advocated for sustainable finance, driving initiatives that align with environmental, social, and governance (ESG) principles. Under his leadership, CIMB has participated in various landmark ESG deals across ASEAN, reflecting the growing demand for sustainable finance solutions.
Awards and Accolades
Throughout his career, Novan has received numerous accolades for his contributions to the financial industry. While specific awards during his tenure at CIMB are not publicly detailed, his leadership roles and the achievements of the organisations he has been part of speak volumes about his capabilities. For instance, under his leadership, CIMB Investment Bank has been recognised with several industry accolades, including Best Bond House in Southeast Asia and Best Investment Bank in Malaysia.
The Journey of an Exceptional CEO
Being a CEO is not just about strategic decisions and financial performance; it also involves inspiring and leading a diverse team. Novan’s journey reflects his commitment to fostering a positive organisational culture and empowering his team to achieve their best. His leadership style is characterised by a focus on collaboration, innovation, and continuous improvement.
Moreover, Novan’s journey highlights the importance of adaptability in leadership. The financial industry is dynamic, and leaders must be able to pivot and adapt to new challenges and opportunities. Novan’s ability to navigate different roles and organisations, from PwC to J.P. Morgan and now CIMB, highlights his versatility and resilience. As he continues to lead CIMB, Novan’s journey inspires aspiring industry leaders, demonstrating the power of strategic thinking, adaptability, and a relentless pursuit of excellence.
