Banks and insurers make key appointments
Three major local banks and a leading insurer yesterday announced the appointment of new leaders in response to customer demand in a changing financial landscape.
Siam Commercial Bank (SCB) informed the Stock Exchange of Thailand on Friday of changes in senior management, including the appointment of Kris Chantanotoke as managing director, effective August 1 this year.
According to the statement, Mr. Kris, who is currently the managing director of AIA Thailand, has extensive experience in finance and banking, wealth management and the insurance industry.
The appointment was approved by the SCB board of directors meeting on January 21, in accordance with the restructuring plan of the SCB financial group and the reorganization of the senior management structure.
SCB’s extraordinary general meeting of shareholders last November gave the green light to the group’s restructuring plan by establishing SCB X Plc as the parent company of the financial group.
To effectively manage the group, the board has reorganized the senior management of the bank in line with the new structure, banking operations and corporate compliance rules, the SCB said in its statement.
Arthid Nanthawithaya, who is Director and General Manager of SCB and SCB X, is expected to step down from his leadership position at SCB on July 31 this year. He remains a director of SCB and general manager of SCB X.
The three current presidents of SCB, comprising Sarut Ruttanaporn, Apiphan Charoenanusorn and Arak Sutivong, are expected to step down on July 31 and take up leadership roles in the new SCB X entities.
Mr. Sarut is Managing Director of Card X Co Ltd, Ms. Apiphan is Managing Director of Auto X Co Ltd and Mr. Arak is Managing Director of SCB Securities Co Ltd.
AIA Thailand announced on Friday the appointment of Nikhil Advani as its new chief executive, replacing outgoing Mr. Kris. The appointment takes effect on May 1.
Mr. Advani is currently the Managing Director of AIA Sri Lanka.
TMBThanachart Bank (ttb) has announced the establishment of a new subsidiary called ttb consumer to offer unsecured lending products, covering credit cards and personal loans.
The new entity aims to strengthen the bank’s financial advisory service as part of its business strategy called “The Bank for Financial Well-Being”, chief executive Piti Tanthakasem said in a statement.
The bank has 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 develop the unsecured lending industry and rank among the top four in business within three years.
In 2022, ttb consumer aims to expand its total credit card base to 1.4 million cards, representing 20% year-on-year growth.
The firm wants to increase its portfolio of personal loans to 37 billion baht, a growth of 25%.
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 has announced the appointment of Benjarong Suwankiri, former head of business strategy for ttb auto loans, as Senior Executive Vice President of Exim Bank.
The appointment is effective from Friday.