With effect from 1 July 2024, Richard Maloney has been named as UOB Thailand’s new CEO. He will take over for Tan Choon Hin, who has been in charge of UOB Thailand since 2016.

Hin will head back to Singapore to take up a new position as deputy head of group governance, risk, and compliance, while Vira-Anong C Phutrakul will be hired as head of wholesale banking and deputy CEO of UOB Thailand.

UOB expanded to rank among the top three card issuers and as the second-largest international bank during Hin’s direction.

In order to encourage foreign direct investment in Thailand and assist regional clients in expanding into new markets, he also oversaw strategic initiatives.

In his capacity as deputy head of group governance, risk, and compliance, Hin will be in charge of improving the bank’s risk management strategy in order to fortify corporate governance and the risk culture.

Tan Choon Hin. Source: UOB

In addition to functional oversight of the secretariat, group risk management, group compliance, group legal, and other transactional credit approval groups, Hin will also be in charge of asset recovery management.

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Meanwhile, Phutrakul was UOB Thailand’s former head of retail and brand. She joined UOB in 2022 to spearhead the merger of the Citigroup consumer business into UOB Thailand, having previously held key executive roles in Citibank Thailand’s retail and wholesale banking divisions.

Moreover, with four decades of expertise in capital markets, retail banking, and wholesale banking, Maloney is a seasoned veteran of the financial sector.

Since joining UOB in 2014, he has served as group wholesale banking’s chief operating officer (COO) and was the chief operating officer for ASEAN at a multinational bank before joining UOB.

After working in finance positions in New York to start his career, Maloney has subsequently work in London, Hong Kong, and Singapore.

In his capacity as group wholesale banking’s COO, Maloney has played a key role in advancing the Bank’s commercial expansion by creating and carrying out strategic initiatives.

He oversaw a variety of business support tasks, such as the implementation of deals and client services, infrastructure and product development projects, operations against financial crime, and data monetisation initiatives.

In his new position, Maloney will take the lead in advancing UOB Thailand’s digital capabilities, broadening its range of products, and introducing clients to market prospects in Thailand and within the regional network of UOB Group.

Wee Ee Cheong, deputy chairman and chief executive officer, UOB, stated: “UOB is committed to investing in our regional franchise for sustainable growth, especially in an important market like Thailand. As a seasoned banker, Richard is well placed to lead the next phase of growth in our Thailand franchise along with Vira-Anong, also an industry veteran. We welcome Choon Hin back to the head office, where he will drive efforts in governance, risk, and compliance across the Group.”