Capital A taps former CIMB heavyweight as deputy CEO

Capital A has appointed Effendy Shahul Hamid as its new deputy chief executive officer, effective 6 April 2026, as the group strengthens its leadership bench for its next phase of growth.

Effendy is well-known for his 20-year tenure at CIMB, and was most recently the CEO of group consumer and digital banking from 2023, until he stepped down in January 2025. He was held various senior leadership roles at the banking group, including CEO, CIMB Digital Assets of CIMB Group and group CEO, Touch ‘n Go.

The appointment comes shortly after Capital A’s disposal of its aviation businesses to AirAsia X in January 2026, marking a pivot as the company sharpens its focus on scaling its remaining core businesses.

These include Asia Digital Engineering (MRO), Teleport (logistics), AirAsia MOVE (mobility and travel platform), AirAsia Next (brand and IP management) and Santan (F&B).

In his new role, Effendy is expected to drive strategic decision-making and ecosystem orchestration across the group, while ensuring strong and sustainable execution as Capital A accelerates its regional growth ambitions.

Don't miss: Capital A reignites plans to list brand management arm

Capital A's CEO Tony Fernandes said Effendy’s experience and leadership style made him a strong fit for the company’s evolving direction. “He understands how ecosystems create value and is able to rally teams around clear goals and deliver real results. At this point, we want to go further and faster in all our businesses on the back of digital innovation, and Effendy brings exactly the kind of depth and perspective that we need,” he said.

Fernandes also told a press conference, as reported by Reuters, that Capital A also plans to go public in Hong Kong by July or August this year, adding that bankers have already been appointed for the listing. Capital A is currently listed on Bursa Malaysia, but has been classified as PN17 since 2022 and is due to exit this status soon. 

The founder also shared that the group is aiming to list its branding unit, AirAsia Next, in the U.S. by the end of 2026, a plan that was called off two years ago. 

Meanwhile, commenting on his appointment, Effendy said the role presented a unique opportunity to be part of a business focused on ecosystem-led growth and digital innovation. “This is a rare opportunity and one that is too good to pass up. The ability to derive value anchored on superior technology use and ecosystem expansion is what I believe the best companies of the future will need to possess,” he said.

He added that Capital A’s platform offered strong potential to unlock new value across its portfolio. “I am hoping to get back on the learning curve, working closely with the various CEOs of Capital A group of companies and AirAsia X to create and unlock the high potential of their businesses,” he said.

Effendy also noted that he aims to bring his experience in financial services into the group’s ecosystem. “I am also looking forward to applying my previous experience in financial services to define a proposition in this space for the group. Its strong ecosystem access and use-cases provide an ideal platform to demonstrate what the future could look like in this vertical,” he added.

Effendy brings more than two decades of regional leadership experience spanning banking, digital transformation, partnerships and ecosystem building. During his 21-year tenure at CIMB Group, he led its regional retail franchise, drove its digital banking agenda and spearheaded strategic partnerships and investments. This included playing a key role in transforming Touch ‘n Go into a leading digital payments platform through its joint venture with Ant Group.

He began his career in corporate development and investment banking, focusing on mergers and acquisitions and business expansion initiatives.

Back in 2025, CIMB Group announced the reorganisation of its senior leadership team following Effendy's resignation as CEO of group consumer and digital banking. He remained as an advisor to the group CEO until the end of June 2025. To better align with the group’s strategic roadmap, group consumer and digital banking was decoupled to ensure greater focus in growing both businesses. Following which, Haniz Nazlan, who joined CIMB Group as group chief strategy officer in 2021, was appointed CEO for group consumer banking.

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