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

Global Capital Markets Group was set up as a new business division by Vorapak Tanyawong, who will step down as KTB president on November 8, to expand its non-interest income and increase its market share of private clients.

Somchai, who is also chairman of KTB’s board of directors, said that although only one candidate applied for the position, the nomination and remuneration committee is going ahead with the selection process.

Even though only one candidate has come forward, the selection process is proceeding because if the applicant is deemed unsuitable, we will have to continue the search, he said. A KTB executive, who declined to be named, said that even though Payong is 47 years old, he has made great efforts to make |KTB’s Global Capital Markets Group known to major corporations.

“Vorapak is KTB president at 48, so age is not important and even though Payong’s experience is mainly in capital markets, the bank’s management has expertise in many sectors so we have |executives who are able to help support top management,” he said.