Bualuang Securities has appointed two key managing directors as it regroups to deal with fiercer competi¬tion when the industry opens up in a couple of years.
"This restructuring will prepare us for full liberal¬isation in 2012," Pichet SithiAmnuai, president of Bualuang Securities, said yesterday.
Bannarong Pichayakorn will be in charge of sales and trading and Vararatana Jutimitta of investment banking.
"As our revenue structure will change, the brokerage business will be expanded to cover more individual clients. And this needs support in terms of product development as well as research and investment plus an arbitrage strategy," he said.
The investmentbanking department will also be enlarged to cover advisory, underwriting and invest¬ment services.
"We'll offer a full range of services as we aim to be a premium broker. This will answer various client requirements. This should push us into the top three in three to five years," he said.
The share of Bualuang Securities in the broking business stood at 4.8 per cent in the first half, ranked fourth, and is expected to rise to 5 per cent at the end of this year with the backing of its parent Bangkok Bank.
Overseas roadshows cohosted by Morgan Stanley will also help build up its client base.
Bualuang has more than 30,000 trading accounts, up 10 per cent year on year, of which 30 per cent are active.
Bannarong said cooperation with Bangkok Bank and IT development should increase the number of clients. Institutional investors account for 70 per cent of its broking business, which now contributes 70 per cent of its total revenue, against 90 per cent last year.
Vararatana said the investment banking business has shown steady progress. Its contribution to total revenue will jump to 30 per cent this year from 10 per cent last year.
Early next year, a private equity service will be offered to high networth individuals for investment in listed and nonlisted companies, domestic or overseas.
Fuelling the department's growth are some initial public offerings, with one company expected to list this year. Bualuang Securities is now advising on at least five mergers and acquisitions involving Thai companies investing overseas to leverage the strong baht.