Bank of Ayudhya (BAY), a Thailand-based bank, has appointed Mark Arnold as president and CEO, effective January 5, 2010, following regulatory approval. He succeeded BAY’s former president and CEO, Tan Kong Khoon, who stepped down from his role.
Mr Arnold has over 15 years experience in the financial services sector in management roles in Asia and Europe with GE. Prior to heading GE Capital Global Banking in Southeast Asia, he served as chairman and CEO of Budapest Bank, GE Money’s bank in Hungary from 2004 to 2008 and as CEO of GE Consumer Finance and GE Commercial Finance Fleet Services Portugal from 2001 to 2004.
Veraphan Teepsuwan, chairman of board of directors at BAY, said: “Mr Arnold’s appointment opens a new chapter in our strategic plan to significantly grow our market presence. His core focus will be on optimising opportunities to accelerate sustainable growth and development and I am confident that under his leadership, the bank will continue to strengthen its competitive advantage.”
Dmitri Stockton, president and CEO of GE Capital Global Banking, said: “The consolidation of our platforms into BAY, along with other recent acquisitions will help diversify the bank’s earnings power and accelerate organic growth in the years ahead. We are excited about BAY’s growth prospects and believe that the bank is well-positioned for the future.”
Mr Arnold said: “Now is an exciting time to be joining BAY. I look forward to working with the management team to maximise the synergies we see across the portfolio to create even greater value for BAY’s customers, employees and shareholders.”
