Deutsche Bank Appoints Head of Thailand
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The German lender hires a new head from Siam Commercial Bank to fill the position left vacant since 2018. Deutsche Bank (DB) will get a new head for its Thailand operations in May, with the appointment of Pimolpa Suntichok as chief country officer and head of the financing and solutions group for Thailand, according to people close to the matter.
Suntichok fills a position left by Phumchai Kambhato, who left the bank in 2018. She will report to Werner Steinmueller in her country management capacity and to Sreenivasan Iyer for her FSG responsibilities.
Suntichok was previously the Senior Executive Vice President serving as the Head of Commercial Banking Solutions at Siam Commericial Bank, Thailand’s largest commercial bank. She brings over 20 years of experience in banking, having worked at Bangkok Bank, Jardine Fleming Thanakom Securities, Fitch Ratings (Thailand), and Standard Chartered Bank (Thailand). She joined SCB in 2008 to lead the structured finance practice for the Capital Markets Division and became the Head of Corporate Segment in 2015 and the Head of MultiCorporate Segment in 2016, according to SCB’s website.
Future Uncertainty
Deutsche Bank in recent months has seen a raft of departures in Asia, including Southeast Asia Vice Chairman Philip Lee, Jakarta-based managing director Kunardy Lie, and North Asia COO
Katherine Lai.
DB, on its third CEO in four years, has in recent years scaled down its Asian operations as its focus has shifted towards Europe amid difficulties in the region. However, Thailand remains an important market for DB in Asia-Pacific, with the bank having a 40-year history in the country.
The bank is currently in the midst of merger discussions with Commerzbank, which has cast uncertainty over Deutsche’s general strategy for the future.
Questions & Answers
Q.What is Pimolpa Suntichok's new role at Deutsche Bank?
What is Pimolpa Suntichok's new role at Deutsche Bank?
Pimolpa Suntichok will be the chief country officer and head of the financing and solutions group for Thailand. She will assume this position in May, filling a vacancy that has existed since 2018.
Q.What is known about Pimolpa Suntichok's professional background?
What is known about Pimolpa Suntichok's professional background?
She was previously the Senior Executive Vice President and Head of Commercial Banking Solutions at Siam Commercial Bank. Suntichok brings over 20 years of banking experience, having also worked at Bangkok Bank, Jardine Fleming Thanakom Securities, Fitch Ratings, and Standard Chartered Bank.
Q.Does Deutsche Bank's appointment in Thailand indicate a change in its wider Asian strategy?
Does Deutsche Bank's appointment in Thailand indicate a change in its wider Asian strategy?
The article states Deutsche Bank has scaled down Asian operations recently, with numerous departures and a shift in focus towards Europe. However, Thailand remains an important market with a 40-year history.
Q.Who will Pimolpa Suntichok report to in her new roles?
Who will Pimolpa Suntichok report to in her new roles?
She will report to Werner Steinmueller in her capacity as country management. For her responsibilities regarding the financing and solutions group, Suntichok will report to Sreenivasan Iyer.