Thursday, 18 April 2024
TMB appoints Khun Piti Tantakasem as new CEO
In a continual and smooth leadership transition, Mr. Boontuck Wungcharoen will be CEO of TMB until this December 31 and the Bank’s Board of Directors has appointed Mr. Piti Tantakasem, currently the Bank’s Chief Financial Officer, to take the CEO role to lead TMB forward, effective from January 1, 2018, Mr. Rungson Sriworasat, TMB Chairman, announced.
Mr. Rungson said, “The appointment of Khun Piti is a continual and smooth leadership transition at TMB as Khun Boontuck has already completed 2 crucial assignments for his extended term. The tasks included leading the Bank’s digital transformation and managing the succession plan. TMB is now ready for the new leadership to continue to lead TMB according to our strategic plan. The Board of Directors as considered Khun Piti a visionary banker, with the right knowledge and experiences, who has been working with TMB since Khun Boontuck started his CEO duty at TMB. Khun Piti has also played a major role in mapping out and implementing TMB strategic business plan to achieve the Bank’s goals. In addition, Khun Piti is the person who understands and has lived the TMB Culture from the start. The Board of Directors is confident that Khun Piti can lead TMB to leap forward to serve the real needs of our customers effectively as stated in our strategic business plan.”
Mr. Piti, 47, is an experienced banker who has joined TMB as Chief Wholesale Banking Officer and is currently the Bank’s Chief Financial Officer. He holds a PhD in Strategic Management, MBA and undergraduate degree in Industrial Engineering. Before this appointment, he has worked in the banking industry for 25 years in diverse banking areas, including Wholesale Banking, SME Banking, Retail Banking and Capital Markets. He also possesses experience as an independent director of state enterprises and private companies.
Mr. Rungson added “On behalf of the Board of Directors, I would like to express our appreciation and deepest thanks to Khun Boontuck who has diligently dedicated himself to transform the Bank to become TMB today.
Since the very beginning that he has been assigned to take the most challenging role at TMB in 2008, Khun Boontuck has delivered many initiatives and has made the most significant changes to TMB and the Thai banking industry. His key achievements includes reorganization of TMB to be a customer-centric organization, establishing a strong organizational culture, building strong Bank’s financial performance, prudentially managing risk, increasing organization efficiency and agility to better serve customers, developing TMB workforce, creating the overall TMB strength and enhancing TMB potential to provide customers with the products and services which serve their real needs. Several TMB products and services have created new norms in the Thai banking industry. Khun Boontuck has made TMB a bank with strong capability and high potential in serving the needs of all stakeholders, including customers, shareholders, employees and the society as a whole.”
Mr. Boontuck remarks, “I would like to thank our customers, TMB Board of Directors and employees, who have been together on our “Make THE Difference” journey. With the strength in all areas and long-term strategic business plan to answer to customer needs, highly-efficient organization with its readiness for the digital age, good corporate governance, quality human resources, I strongly believe that TMB will further thrive and leap forward at a faster pace in the digital age. TMB will be the need-based and simple & easy bank that customer advocates and our customer base will be expanded continually.”
Mr. Boontuck has been appointed as CEO of TMB on July 14m 2008 and has led TMB and turned the Bank which had an accumulated losses of over 100 billion baht into a profitable bank which could pay dividend to shareholders for the 2010 performance year. It was TMB’s first dividend payment in 14 years. He has initiated “Make THE Difference” TMB’s brand ethos and, ever since, has built a strong TMB brand, restructured TMB to be a customer-centric organization, and increased the Bank’s efficiency, making TMB become the first Thai Bank to use “LEAN” for organization efficiency improvement. He has led the Bank to introduce new concepts in banking i.e. categorizing deposit accounts into two categories – transactional accounts such as TMB All Free and savings accounts such as TMB No Fixed – which provide customers with new thinking in managing their bank accounts for more benefits. Under Mr. Boontuck’s leadership, TMB has set a new norm in the Thai banking industry with the elimination of inter-region banking fee. All of these have been launched with in-depth studies and understanding of customer insights. The Bank has also launched ME by TMB, the digital banking account, which offers depositors with higher interest rate than the regular bank accounts. The Bank also created a new mutual fund service offering aimed for all groups of customers for the first time in the Thai banking industry, titled “TMB Open Architecture”, of which TMB has gone beyond the limitation of working with only one asset management company which is its subsidiary. In this regards, TMB has joined hands with eight fund houses to provide quality mutual fund products to customers via all TMB branches nationwide, creating more opportunity for customers to gain more from their investment. The service has been recently taken to another level with “TMB Advisory” which provides customers with investment advice and asset allocation. Understanding the significance of SME role in economic development, Mr. Boontuck also initiated the LEAN Supply Chain development program for SMEs in the supply chains of major business corporations in different industrial segments. The development course is offered to SME free of charge, with an aim to instill the LEAN knowledge and skills among the Thai SMEs to improve their work process and develop their business to ensure their success and enhance their sustainable competitiveness.
Under the leadership of Mr. Piti, TMB will continue its business directions under the rolling 5-year strategic business plan. The Bank will provide customers with the products and services which serve the real needs of customers under the need-based and simple & easy concepts. TMB will continue to offer customers with the best transactional banking service which can effectively serve the needs of customers in the digital age so that customers choose to use TMB as their main banks and become TMB advocates, aiming to be the most progressive bank in Thailand.
Re-disseminated by The Asian Banker from Thehindu.com
