On The Move: Airbus SE

Airbus SE

The chief financial officer of German chipmaker Infineon Technologies has joined Airbus, filling a major vacancy in its top ranks following an unprecedented wave of departures in the past year. Mr Dominik Asam will take over the finance position in April when Mr Harald Wilhelm moves on, the company said last Wednesday.

Airbus also announced the appointment of a new chief operating officer at its main plane-making unit, with Mr Michael Schollhorn taking over from Mr Tom Williams, who is retiring.

The company has seen a management drain in recent months, with chief executive Tom Enders and Mr Fabrice Bregier, the head of the plane-making unit, leaving along with others. Mr Asam, a German national, will work alongside Frenchman Guillaume Faury, who succeeds Mr Enders next year, maintaining a Franco-German balance of nationalities that's closely guarded by their governments, the two main shareholders.

The new top brass will be tasked with guiding Airbus through a critical decade as it manages investigations by British and French fraud offices while leading a ramp-up in aircraft production to meet record order backlogs.

CIMB Group

Malaysian bank CIMB Group announced changes to its top management, with group chief financial officer Shahnaz Jammal due to relinquish his position to become CEO of the group's wholesale banking business.

Mr Khairulanwar Rifaie, the chief financial officer of CIMB Malaysia and CIMB Islamic Bank, will succeed Mr Shahnaz as group CFO. The group has also appointed Mr Omar Siddiq, former head of group wholesale banking at an unidentified "regional banking group", as group chief operating officer.

The changes take effect on Jan 1.

DBS Bank

DBS Bank has made new appointments to its transaction banking team.

Mr Sriram Muthukrishnan, who joins the bank from HSBC, has been appointed group head of global transaction services (GTS), trade product management. Mr Muthukrishnan, who brings with him more than 20 years of banking experience in Singapore and the region, will be responsible for strengthening the bank's trade products and services. He will also oversee digital initiatives across the bank's trade products and services, for both large corporates and small businesses.

Meanwhile, the bank appointed Mr Navinder Duggal as the GTS-SME head in July this year, a new role established as the bank grows its market share in the small and medium-sized enterprises (SME) segment. Mr Duggal's focus will be to shape and execute the bank's strategy in core markets such as Singapore and Hong Kong.

Ms Jasmin Ng, who has been with DBS for close to 10 years, takes over Mr Duggal's previous position as group head of cash product management. Ms Ng has been the Singapore cash product management head, managing the bank's payables, receivables and deposit products portfolio.


A version of this article appeared in the print edition of The Straits Times on November 26, 2018, with the headline 'On The Move'. Print Edition | Subscribe