RHB realignment reinforce position as leading financial services provider

1 April 2025

KOTA KINABALU: RHB Banking Group (RHB) recently announced a strategic organisational realignment as part of its PROGRESS27 corporate strategy, which aims to drive profitable growth, enhance customer-centricity, and reinforce its position as a leading financial services provider.

Dato’ Mohd Rashid Mohamad, Group Managing Director/Group Chief Executive Officer of RHB Banking Group, remarked, “This reorganisation is a pivotal step in achieving our PROGRESS27 aspirations—to become the Best Service Bank, driving High Profitability while upholding our commitment as a Responsible and Purposeful financial institution. It strengthens our senior management team and enhances focus, accountability, and execution, thereby positioning us to drive sustainable growth, foster innovation, and deliver greater value for our stakeholders.”

To stimulate greater synergy, efficiency, and client-centricity, RHB will establish Group Corporate & Business Banking (“GCBB”), which consolidates Corporate Banking, Commercial Banking, and SME Banking into a unified structure effective from 1 May 2025.

This strategic move is designed to sharpen the focus on business-to-business growth across these sectors, employing a more targeted approach towards non-retail enterprises, supported by improved execution and customer segmentation. In addition, this change will optimise business segmentation by ensuring a clear distinction between income streams; GCBB will concentrate on generating Net Interest Margin (“NIM”) from lending and deposits, while Group Wholesale Banking (“GWB”) will focus on driving Non-Interest Income (“NOII”) through investment banking, treasury, and transaction banking.

Ultimately, these changes aim to diversify income streams, improve operational efficiency, and bolster long-term financial performance. Wendy Ting, currently Managing Director of Group International Business & Corporate Banking, will take on the role of Managing Director of Group Corporate & Business Banking.

With the integration of Corporate Banking and Commercial Banking into GCBB, Group Wholesale Banking (“GWB”) will sharpen its strategic focus on five core areas: Investment Banking, Treasury & Global Markets, Transaction Banking, Client Coverage, and Economics.

This transformation will enhance GWB’s capabilities in capital markets, advisory services, and complex financial solutions, further solidifying RHB’s position as a leader in wholesale banking. The Group is currently in the process of identifying the most suitable leadership to assume the role of Managing Director of Group Wholesale Banking.

RHB will also establish Group International Business (“GIB”) as a dedicated pillar aimed at enhancing regional leadership, agility, and market responsiveness. This initiative will allow for the development of tailored strategies to address local market dynamics and regulatory environments.

Effective from 1 April 2025, Danny Quah, currently CEO of RHB Singapore, will be appointed Managing Director of Group International Business. With a strong track record in regional leadership and market share growth, Danny will spearhead RHB’s international growth ambitions. Goh Ken-Yi, currently Deputy CEO of RHB Singapore, will succeed Danny as CEO of RHB Singapore, ensuring continuity of leadership and driving growth across the region.