KTB gets new president

Finance Permanent Secretary Somchai Sujjapongse, as chairman of the board, said Payong was the only applicant for the bank’s top job.

Payong, 47, will succeed Vorapak Tanyawong whose term will end on November 8. Payong’s appointment will take effect on November 9.

The board will further carry out the negotiation on his remuneration soon, said Somchai.

Payong has extensive experience in the capital markets. Before joining KTB in January 2015, he was the managing director and head of Global Markets & Country Treasurer at Citibank Thailand.

KTB is the country's largest state-owned banks with assets worth over Bt1 trillion.