Krung Thai Bank's board of directors on Thursday officially announced that Vorapak Tanyawong would become the bank's new president.
Vorapak started his work immediately today, following the completion of Apisak Tantivorawong's second term yesterday.
The bank said that the decision has won the Bank of Thailand's approval.
Vorapak is chairman and CEO of Finansa Securities.
Vorapak was among several potential candidates including Soros Sakornvisava, former president of SME Bank; and Chaipatr Srivisarvacha, managing director of KT Zmico Securities.
Vorapak has extensive experience in capital markets and investment banking. Before taking the job at Finansa Securities, Vorapak was a senior executive vice president at Siam Commercial Bank and held a senior management position with JPMorgan Chase and Deutsche Bank. He was also Bank of America’s manager for Thailand.
Krung Thai Bank, the second-largest bank by assets, has been a major tool in financing government-supported projects, including the rice-pledging scheme and infrastructure projects.