Nazir named Malaysia's best executive in 2009

KUALA LUMPUR: CIMB Group chief executive Datuk Seri Nazir Razak's proven track record of success, boasting an ability to hire the best people with his own knowledge and vision, has earned him Asiamoney's award as Malaysia's best executive in 2009.

In a statement yesterday, CIMB said Nazir was a popular choice among Malaysian corporates.

"I couldn't support Nazir Razak more," gushed a head of research in Kuala Lumpur, according to CIMB.

It said conversations with other market sources invariably end in similar compliments, underscoring the respect that Razak has generated among analysts and investors for his achievements over the past year.

"You don't have to go very far. It shows up in the financial awards, the profits and numbers and the growing size of the bank," said CIMB, citing another source.

Under Nazir's leadership, CIMB has morphed into one of Malaysia's most respected institutions. Its is lauded for its investment banking prowess and could become the best banking group and investment bank across Southeast Asia. Singapore's DBS is touted as its only real rival.

"Since he took over CIMB investment banking in the 1990s, the transformation has been solid. I can confidently say that they will be even more powerful in the next five years," said the source. "A lot of critics say that Nazir is where he is today because of his brother (Datuk Seri Najib Razak), but let's be fair, he has absolutely proven himself," said the head of research.

"He told staff in 2007, when everything was shooting through the roof, to hold their horses and not look short-term because these good times cannot last. He has vision, foresight and leadership. Very few leaders have all that."