CIMB Thai appoints Phasukvanich as Chairman

Chakramon Phasukvanich takes over from Dato’ Robert Cheim Dau Meng as Chairman of the Board of Directors of CIMB Thai with effect from 1 January 2010.

Meng has been Acting Chairman since Mr. Tawee Butsuntorn completed his office term on 28 April 2009.

"It is a great honor for us to have Chakramon as Chairman of CIMB Thai, as he brings with him a wealth of knowledge and experience, especially in the fields of economics and finance," said Subhak Siwaraksa, President and CEO of CIMB Thai. "Chakramon’s credentials are rare and invaluable, as he has not only served as Permanent Secretary of the Ministry of Industry, but also as Secretary General of both the National Economic and Social Development Board and the Board of Investment (BOI)," he explained.

Dato’ Sri Nazir Razak, Group Chief Executive of CIMB Group, CIMB Thai's major shareholder, said: "We are confident that Mr. Chakramon’s abilities and insight will add tremendous value to the management team at CIMB Thai. His appointment is also a reaffirmation of CIMB Group's commitment to strong growth for our franchise in Thailand."

Chakramon, 61, graduated with a Master's Degree in Economics from Chulalongkorn University and has amassed considerable experience from working in the public and private sector. At present, he is a member of the Monetary Policy Committee of the Bank of Thailand, the Judicial Council of Thailand and the Economic Advisory Team of the Prime Minister's Office. He also serves as chairman of the Office of the Civil Service Commission and is a director of PTT Public Co., Ltd.

His previous appointments include being a member of the National Legislative Assembly and Chairman of the Small and Medium Enterprise Development Bank of Thailand.