Siam Commercial Bank (SCB), the country's largest bank by assets, has named four new co-presidents to reshape its management structure as part of the bank's "Going Upside Down" transformation.
The four co-presidents are Arak Sutivong, former senior executive vice-president, chief financial officer and chief strategy officer; Orapong Thien-Ngern, former senior executive vice-president and chief digital transformation officer; Sarut Ruttanaporn, former senior executive vice-president and head of the retail segment and branch network; and Apiphan Charoenanusorn, former senior executive vice-president, head of retail lending products, head of retail payments and head of facility management.
The appointments took effect yesterday, SCB said.
Under the new management structure, Arthid Nanthawithaya remains the bank's chief executive with a mandate to drive the bank's long-term strategy.
Mr Arthid has been SCB's president and chief executive since July 1, 2016.
The bank wants to revamp long-term strategy, overhaul work processes and promote a new organisational culture.
Mr Arthid proposed splitting the president and CEO roles to push the transformation to completion by 2020 as planned, SCB said.
"The appointments are an endeavour to develop the bank into an agile organisation with the capabilities defined under the SCB Transformation programme," the statement said.
Adopted in early 2018, the Going Upside Down policy focuses on five issues: lean the bank, digital acquisition, data capabilities, new growth and bank as a platform. To achieve the mission, the change in work processes and roles at all levels must create an agile organisation and maximise the potential of invested technology.
The SCB Transformation programme, designed to sharpen competitiveness in the face of rapid changes in the global business from wide-scale disruption, will run through 2020.
Kasikornbank (KBank) has overhauled four business groups -- corporate strategy management division, SME business division, retail business division and corporate business division -- into four new divisions comprising distribution network division (DNW), strategy and analytics division (STA), transaction banking division (TBG) and credit products division (CPD).
KBank president Patchara Samalapa oversees DNW, senior executive vice-president Wirawat Panthawangkun is in charge of STA, senior executive vice-president Silawat Santivisat heads TBG and executive vice-president Surat Leelataviwat is responsible for CPD.
The new business divisions went into effect on Feb 1.
