"At a large bank it's almost impossible for a CEO to keep in touch with all the crucial issues. There's a need for a helping hand," a prominent banker said recently.

Amid the current cut-throat competition, smaller banks will find it difficult to survive. Just a difference of 25-50 basis points in the cost of funds means much more these days than in the past, he said.

CEOs, theoretically, look at the big picture of their bank's business to ensure that everything goes according to the bank's policies. They are also supposed to support the bank's president, who is in charge of day-to-day operations, but not all the duos in the banking industry can tango together.

Siam Commercial Bank's CEO and president Khunying Jada Wattanasiritham is resigning at the end of this month. She replaced Olarn Chaiprawat in the wake of the 1997 financial crisis. The bank has since survived and thrived, posting record high net profits recently.

However, since Vichit Suraphongchai was appointed as executive chairman seven years ago, many are convinced that the real CEO of the country's third largest bank is in fact him. He has reportedly deferred to Jada as CEO and president, but he has also spearheaded many of the bank's critical initiatives over the past few years. He has been dominant in many areas from the bank's restructuring process under the universal banking model to the financing facility for the Shin Corp share sale to Singapore's Temasek Holdings. Jada seems to be acting in a supportive role rather than the leading one as the bank's chief executive.

In February Kannikar Chalitaporn, a marketer-turned-banker, will succeed Jada as the bank's president, while the CEO position will this time be reserved for Vichit. He was the one who invited Kannikar, who has an extensive background in the consumer business, to help the bank become a major contender in retail banking. However, there's no doubt who will call the shots later on.

Bangkok Bank recently appointed Singh Tangtatswas, who has a wealth of experience in accounting, as its managing director, a new position. Singh's job is to take some of the heavy workload off of the bank's president, Chartsiri Sophonpanich, who has been overloaded with both day-to-day operations and nitty-gritty matters concerning upcoming regulations, including International Accounting Standard 39 and the international banking standard Basel II. Singh is supposed to assist Chartsiri particularly in these new standards, but it seems that all day-to-day operations still fall on Chartsiri, who reportedly burns the midnight oil at his office almost every day.

The reins of the bank are actually still in the hands of old veterans including Chatri Sophonpanich, the bank's chairman and major shareholder as well as Chartsiri's father. The Sophonpanich group is still fully in charge at the country's largest bank.

The situation is almost the same at Bank of Ayudhya. No matter who becomes the bank's president, the real decision-maker will always be Krit Ratanarak, who is both chairman and major shareholder of the sixth largest bank.

Somchai Sakulsurarat, Praphaisith Tankeyura, Jamlong Atikul and Pongpinit Tejagupta seemed to be only proxy presidents under the shadow of the bank's major shareholder.

Charlotte Dhonavanik, first senior executive vice president of BAY, has assumed a very active, high-profile role. She's credited with helping to upgrade the bank's image from a dull conservative institution to a bright, aggressive player, particularly in retail banking, but she's only a senior executive of the bank.

Krit has resigned from the bank's executive chairmanship in response to the Bank of Thailand's call for good corporate governance. Krit has recently allowed US giant GE Money to take a majority stake in his bank, marking the first time that he has loosened his tight grip on the business.

Banthoon Lamsam, who admitted long ago that Kasikornbank's majority stake did not belong to his family any more, has handed over his presidency to Prasarn Trairatvorakul, an ex-central banker and former secretary-general of the Securities and Exchange Commission. Banthoon made himself the CEO.

It appears that the two have successfully divided duties between themselves in directing the bank's business. While Prasarn has been given a free hand to supervise all day-to-day activities and technical operations, Banthoon handles only human resources, public and investor relations, and the China business. It has been reported that Prasarn gets good backing from Banthoon, who was the one who invited him to take his position.

Over at Krung Thai Bank, an expert in fengshui, the ancient Chinese belief that environmental factors influence human destiny, has said the position of the president is cursed as the Vayupak, the sacred bird which is the bank's logo, has devoured everything.

Few presidents of the bank have survived without being sacrificed over political issues. Tamjai Kampato, Sirin Nimanahaeminda and Viroj Nualkhair seem to have learned their lesson.

The bank's logo may have to be changed.

Siam City Bank has been busy seeking a new president, but one banker said Siam City Bank didn't need one and seemed to be doing quite well with just a strong chairman.

Jiwamol Kanoksilp

The Nation