Chatchai is new chief for GSB Thailand

By Team DealStreetAsia

October 31, 2014

KBank’s executive vice-president Chatchai Payuhanaveechai has been appointed the 16th president of the Government Savings Bank (GSB).

He will replace Worawit Chailimpamontri, who resigned from GSB in March, following the bank’s controversial decision to extend a 5-billion-baht ($156.25-million) loan to the Bank for Agriculture and Agricultural Cooperatives (BAAC).

The loan, which was earmarked to finance overdue payments to farmers under the rice-pledging scheme, triggered strong public outcry and a temporary deposit run of 110 billion baht ($3.437 billion) at the GSB.

The GSB’s selection committee nominated a 54-year-old Chatchai as the sole candidate for the bank’s top post.

Of the eight applicants, the bank’ s board interviewed four before finalising Chatchai.

The other three,who were running for the top post included GSB’s acting president and first senior executive vice-president Tachaphol Kanjanakul, GSB’s senior executive vice-president Pisit Serewiwattana and Krungthai’s senior executive vice-president Parinya Patanaphakdee.

According to Somchai Sujjapongse, chairman of the board, GSB, they nominated Chatchai because of his leadership skills and outstanding vision.

Chatchai will talk to GSB’s remuneration committee today about his salary and benefits. After that, they will submit the details to the Finance Ministry for final approval. The bank expects him to join the post mid of November, Somchai added.

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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