Your 10 questions

Datuk Seri Nazir Razak has become synonymous with the CIMB Group. His pedigree and achievements have made him a highly-regarded personality in corporate Malaysia. Readers get to find out a little more about this man from his answers to their questions

1. People say you grew up in a well-known and rich family and therefore, may not quite understand nor have experienced a fall or real challenges. Is that true?
KHLow

I value my family background not for material comforts but for the emotional security and set of personal code of ethics it has instilled in me. As for career challenges, I can assure you that life as a rookie at CIMB was no bed of roses. To be honest, I struggled and almost surrendered a few times.

By now though I believe that I have demonstrated the track record, character and ability to do the job entrusted to me.

2. Set of rules is normally redefined by the person(s) in-charge, be in the corporate world or family unit. Do you use the same principle at home as you do at work?
Zaharah Rashid, Subang Jaya

Although I try to assist, due to my work schedule I leave home matters largely to my wife.

3. We have heard so much about your life at work. Can you tell us more about your life outside the office?
See Gaik Eng, KL

Life outside work centres around my family. I have been married to Azlina since 1992 - we met while studying together at Bristol University. Her father is Tan Sri Aziz Taha, a former Governor of Bank Negara and we have 2 kids, Arman and Marissa. I try to spend as much time as possible with them. We are not good at glitzy social events and are actually very private, preferring time with our extended family and a small circle of close friends, many of whom date back to our youth.

It is important to have a good work/life balance and working long hours at the office also means working harder to obtain quality time with your family.

As for sports, I find squash the most efficient form of exercise and Chelsea the best football team in the world!

4. Family support is key in one’s success. How do you reconcile that with the huge benefits it may bring you as your brother will be Prime Minister of Malaysia not too long from now?
Yasir Tamizi

Indeed, the most important influence in my career has been my wife Azlina. She believed in me even before I had a job. She’s very smart but more importantly we both grew up in families which value integrity and a strong sense of duty. So she has been a great sounding board and conscience. As for my brothers, we are close but have each deliberately kept separate career paths. This won’t change even when Najib becomes Prime Minister.

As for CIMB, I am determined that my family relationships must not detract from the very real successes that CIMB staff have worked so hard and for so long to attain.

5. How do you distance yourself or CIMB Group from the perception of having strong political connections in securing high-profile business mandates? Are other investment banks really in the same playing field with CIMB, then?
Mustaqim Zain

CIMB was Malaysia’s leading investment bank before I became its CEO in 1999. Since then we have not only successfully defended that position in Malaysia but we have expanded to become number 1 in M&A advisory in Singapore and a leading investment bank in Indonesia. I do not have any relatives in government in other countries.

I do not deny that connections of whatever form helps open doors but it’s always what you do in the room that matters. If you look at the team we have at CIMB Investment Bank, you will see a set of bankers with a track record that can justify winning any mandate. CIMB has also been successful at consumer banking – surely that cannot be attributed to political connections.

6. You are one of the few who practises meritocracy in staff recruitment/promotion. Have you had problems implementing this policy? How can you persuade others to do the same to raise our competitive advantage?
S. Paul

CIMB has always strived to be meritocratic. A successful organisation is one that keeps its people motivated. We try our best to ensure that those who do well are rewarded financially and in career progression, irrespective of gender, race or age. Every employee must believe that it is worth working hard.

Implementing a merit-based organisation in Malaysia and our other banks in the region is not easy; it is human to be biased towards one’s race, gender or even friend.

So management has to continuously intervene to keep managers objective and fair. For instance, we question managers who can’t run multi-racial or multi-gender teams. We remind our people of the need to challenge what comes naturally to them as individuals.

So, my best advice to others - Admit this human failing and take steps to counter it because it will enhance your organisation’s performance.

7. You have been in the banking industry for almost 20 years and during that time you have been instrumental in propelling CIMB to great heights. What are your plans for the next 10 years? Do you see yourself as a regulator, for instance?
Ratha

Over the next 10 years, I see myself continuing to spearhead CIMB Group and in particular, its transformation into an ASEAN banking group and then hand-over to an able successor. I am very committed to the CIMB agenda that has consumed me since 1989 and do not see myself in any other full-time role after this.

8. Your late father is seen as a people’s leader and you are seen as the single force behind CIMB’s success locally and abroad. Like your father, how can that be meaningful to you when there are people out there in your own country who are trying to make ends meet?
Ahmad Safuan Mokhtar, Project Management Consultant

I am very proud of the role that CIMB Group plays. Banks are crucial to any economy, not least for channelling savings for investments that enable economic growth. And economic growth drives employment and wealth creation without which we can’t even begin to discuss distribution of wealth.

CIMB is a socially responsible organisation and strives to supplement the Government’s welfare efforts through our RM100 million charitable foundation. Our CSR programme is acknowledged as one of the best in the country. Our Community Link is currently running 198 projects throughout Malaysia such as helping single mothers in Pulau Tuba, sponsoring English lessons for underprivileged kids in Sentul and so on.

9. What measures would CIMB take to tackle the current global crisis to avoid it becoming a victim of the “falldown”?
By Katherine, Selangor

We have limited exposure to international assets and dependence on foreign financing. This ensured that we were not materially hurt from the crisis itself. But as the crisis will have a severe impact on the economy as a whole next year, we have to watch our loan books, be vigilant about all types of risks and contain our operating costs.

10. What is your view of the NEP? Should it be abolished?
Hussein Hamzah, Johor

The NEP was meant to be a 20 year exercise that, according to Tun Razak in 1971, is “… not aimed at promoting any sectional interest but is a blueprint for the progress and unity of our Nation”.

The NEP has had many successes against poverty and in uplifting the economic well-being of Malays but it has now gone on for 18 years longer than the founding fathers planned and is sadly seen by too many as a major cause of national disunity.

Furthermore, since the NEP was introduced, the competitive landscape of nations has changed dramatically, the complexion of our economy has transformed and Malaysians are quite different too.

I would suggest that we set-up a closed door forum of the best and brightest Malaysians to openly discuss the future of the NEP. At the very least we need to change some out-dated implementation policies. On a related note, I also feel disturbed that we can’t even seem to talk about vernacular schools. Again, why not set-up a parallel forum to openly discuss all aspects of the education system so that future generations have a real chance of realising Bangsa Malaysia?