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Subhak, 52, was president and CEO of TMB Bank from 2003 to July 2008. He has also been president of TMB Asset Management Co and recently sat on the board of directors of the Export-Import Bank of Thailand.

He holds a PhD in econometrics and monetary econometrics from the University of Pennsylvania in the US.

He also earned his masters in law and diplomacy from Tufts University, and bachelors in English literature and economics from Georgetown University, in the US.

The new CEO was appointed following the increase in the stake of Malaysia-based CIMB Group, the new major shareholder of BankThai.

CIMB said recently that it aims to keep the Thai bank as its regional franchise.

The group last June agreed with the Financial Institutions Development Fund, BankThai's former major shareholder, to acquire 42.13 per cent in the bank for Bt5.9 billion.

It later completed a tender offer for the remaining 57.8 per cent of the bank's shares, in which it received 49.91 per cent of shares from existing shareholders.

Now CIMB controls 92.04 per cent of BankThai.