Datuk Abdul Farid Alias is the new President, CEO of Maybank

Datuk Abdul Farid Alias, 45, has been appointed the new President and Chief Executive Officer of Malayan Banking Bhd effective today.

He was previously the bank's Deputy President and Head of Global Wholesale Banking.

He replaces Datuk Seri Abdul Wahid Omar who resigned on June 4 to take over as Minister in the Prime Minister's Department in charge of the Economic Planning Unit (EPU).

Abdul Farid was also formerly Khazanah Nasional Bhd's Director of Investments and the government investment arm's nominee on the board of UEM Group Bhd in 2008.

Today's announcement was made by Maybank Chairman Tan Sri Megat Zaharuddin Megat Mohd Nor at a press conference at Menara Maybank.

Maybank is the country's largest bank and is ranked among the top 100 banks in the world.

Abdul Farid, who was also present at the press conference, said he was informed of the decision at 11 am today.

"I am deeply humbled and honoured to be given this responsibility. I am well-aware that my immediate predecessor Abdul Wahid has left me with a very big shoe to fill.

"However, I'm very fortunate because here at Maybank, we are blessed with a group of passionate and committed leaders," he added.