By Chester Tay

CIMB Group Holdings Bhd. has appointed Abdul Rahman Ahmad as its new group chief executive officer and executive director.

The appointment is effective June 10.

Mr. Abdul Rahman, currently the non-executive chairman of Sime Darby Bhd. and Velesto Energy Bhd., succeeds Tengku Zafrul Tengku Abdul Aziz, who relinquished his post to join the Malaysian government as the finance minister, CIMB Group said in a stock exchange filing late Friday.

In 2016, Mr. Abdul Rahman was appointed President and group chief executive officer of Permodalan Nasional Bhd., Malaysia's largest asset management company, with more than 300 billion ringgit ($69.0 billion) assets under management.

Prior to that assignment, he served as chief executive officer of Ekuiti Nasional Bhd., a government-linked private equity firm for seven years. 



  Write to Chester Tay at chester.tay@wsj.com