Credit Suisse is poaching a new head of wealth management in Thailand from Citigroup. The new hire replaces veteran Thai banker Thippa Praneeprachachon, who is retiring.
The Zurich-based bank named Natt Thanomsat as head of wealth management Thailand effective from March, Credit Suisse said in a statement. The banker replaces Thippa Praneeprachachon, who is retiring after more than 30 years in private banking.
The Swiss bank said assets in the country have risen more than tenfold, and it has doubled the size of its local wealth management team last year. Credit Suisse poached Thanomsat from Citigroup, where he is currently head of equities in Thailand and head of sales for the U.S. bank's Citicorp Securities arm.
He will be based in Bangkok and report to market group head of Thailand and Vietnam, Marcus Slöör, as well as to Chris Prasertsintanah, country manager of Thailand. Praneeprachachon will continue to work for Credit Suisse as a senior adviser to help develop business and client opportunities in Thailand, the bank said.
