Check out what's changed since CIMB appointed Renzo Viegas as consumer division head

4 units were merged and duplication of back-end processes were removed.

According to Nomura, since the appointment of Mr Renzo Viegas (ex RHB Bank, ex Citibank Malaysia) as the head of the consumer division in 1Q12, CIMB has merged four operating units, namely: 1) retail business; 2) sales and distribution and mobile banking; 3) unsecured loans and credit cards; and 4) small- and medium-sized businesses. 

Here's more from Nomura:

Duplication of back-end processes like credit applications and approvals, business planning and analytics and new product development has been removed. The consumer businesses of Malaysia, Singapore and Cambodia will be run as a group, while Thailand and Indonesia will have their own reporting lines.

As a result, management expects to see higher product holding ratios, quicker turnaround times and a streamlined cost structure. No word on whether there will be any personnel reduction, but management did indicate that there is a headcount freeze for back-end functions and is hiring front line staff.

Net net, there has been a slight increase. Management expects the results of this restructuring, however, to show in only 18-36 months, ie, 2H13 through 2014.