CIMB Thai picks Chakramon Phasukvanich as chairman

KUALA LUMPUR: CIMB Group's CIMB Thai has appointed Chakramon Phasukvanich, who had served on the Economic Advisory Team of the Thai Prime Minister’s Office, as chairman of the board with effect from Jan 1.

He takes over from Datuk Robert Cheim Dau Meng, who was the acting chairman since Tawee Butsuntorn completed his office term on April 28, 2009.

CIMB Thai president and chief executive officer Subhak Siwaraksa said Chakramon had a wealth of knowledge and experience, especially in the
fields of economics and finance.

“Chakramon’s credentials are rare and invaluable, as he has not only served as permanent secretary of the Ministry of Industry, but also as secretary general of both the National Economic and Social Development Board and the Board of Investment (BOI),” he said.

The group chief executive of CIMB Group, Datuk Seri Nazir Razak said he was confident Chakramon’s abilities and insight would add tremendous value to the management team at CIMB Thai.

"His appointment is also a reaffirmation of CIMB Group’s commitment to strong growth for our franchise in Thailand,” said Nazir.

Chakramon, 61, graduated with a master’s degree in economics from Chulalongkorn University. At present, he is a member of the Monetary Policy Committee of the Bank of Thailand and the Judicial Council of Thailand. He also serves as chairman of the Office of the Civil Service Commission and is a director of PTT Public Co., Ltd.

His previous appointments include being a member of the National Legislative Assembly and Chairman of the Small and Medium Enterprise Development Bank of Thailand.

CIMB Thai has 147 branches. Formerly known as BankThai, it became a part of CIMB Group in 2009, when CIMB Group acquired 93.15% of its shares.