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KUALA LUMPUR, Feb 12:

RHB Capital group managing director Kellee Kam Chee Khiong has resigned, according to RHB Banking Group’s announcement on the local bourse.

The fourth-largest Malaysian bank by assets said today it had a succession plan in place and “will execute a transition plan for a smooth handover of responsibilities”.

In a statement, RHB said Kam will remain as group managing director of RHB Capital until the end of the transition period, the date of which will be announced later.

Kam’s departure comes after RHB called off a proposed plan to merge with CIMB Group Holdings Bhd, the country’s second largest bank, and smaller lender Malaysia Building Society Bhd, in a bid to create Malaysia’s largest bank by assets, citing a failure to agree terms in a worsening economic environment.

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