Three major local banks and a leading insurer announced on Friday the appointment of new executives in response to customer demand amid the changing financial landscape.
Siam Commercial Bank (SCB) informed the Stock Exchange of Thailand on Friday about executive management changes including the appointment of Kris Chantanotoke as chief executive, effective from Aug 1 this year.
According to the statement, Mr Kris, who is currently chief executive of AIA Thailand, has extensive experience in the finance and banking sector, wealth management and the insurance industry.
The appointment was approved by the SCB's board of directors meeting on Jan 21, in line with SCB financial group's restructuring plan and rearrangement of the senior management structure.
SCB's extraordinary general meeting of shareholders in November last year gave the green light to the group's restructuring plan by establishing SCB X Plc as the parent company of the financial group.
To manage the group effectively, the board of directors reorganised the bank's senior management in line with the new structure, bank operations and corporate compliance rules, SCB said in its statement.
Arthid Nanthawithaya, who is director and chief executive of both SCB and SCB X, is slated to step down from SCB's top post on July 31 this year. He remains an SCB director and chief executive of SCB X.
SCB's three existing presidents, comprising Sarut Ruttanaporn, Apiphan Charoenanusorn and Arak Sutivong, are scheduled to step down from their posts on July 31 and serve in top executive positions at SCB X's new entities.
Mr Sarut serves as chief executive of Card X Co Ltd, Mrs Apiphan is chief executive of Auto X Co Ltd and Mr Arak serves as chief executive of SCB Securities Co Ltd.
AIA Thailand disclosed on Friday the appointment of Nikhil Advani as the new chief executive, replacing the outgoing Mr Kris. The appointment takes effect on May 1.
Mr Advani is currently chief executive of AIA Sri Lanka.
TMBThanachart Bank (ttb) announced it is setting up a new subsidiary called ttb consumer to offer unsecured loan products, covering credit cards and personal loans.
The new entity aims to strengthen the bank's financial advisory service under its business strategy called "The Bank of Financial Wellbeing", chief executive Piti Tanthakasem said in a statement.
The bank also appointed two executives of ttb consumer: Jaray Jianthanakanon as managing director and Thakorn Piyapan as senior expert.
Mr Piti said the bank wants to grow the unsecured loan business and rank among the top four in the business arena in three years.
In 2022, ttb consumer targets expansion of its total credit card base to 1.4 million cards or 20% growth year-on-year.
The firm wants to increase its personal loan portfolio to 37 billion baht or 25% growth.
He said ttb plans to develop new products and services, teaming up with business partners in response to customer demand.
Export-Import Bank (Exim) of Thailand announced the appointment of Benjarong Suwankiri, formerly ttb's head of automotive lending business strategy, as Exim Bank's senior executive vice-president.
The appointment was effective as of Friday.