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Treasury & Capital Markets / On The Move
UOB Thailand names new CEO
Richard Maloney succeeds Tan Choon Hin, who takes on new role as deputy head of group governance, risk and compliance
The Asset 11 Jun 2024
Richard Maloney (left) and Tan Choon Hin
Richard Maloney (left) and Tan Choon Hin

UOB Thailand has appointed Richard Maloney as its new chief executive officer, effective July 1.

He will succeed Tan Choon Hin, who will relinquish the position after leading UOB Thailand since 2016. Tan will return to Singapore and take on a new role as deputy head of group governance, risk and compliance.

Vira-Anong C Phutrakul will be appointed as head, wholesale banking and deputy CEO of UOB Thailand.

Maloney has 40 years of experience in wholesale banking, capital markets and retail banking. He has held the position of chief operating officer, group wholesale banking, since joining UOB in 2014.

Prior to UOB, Maloney was chief operating officer for the Asean region at a global bank. He began his career with finance roles in New York and has since worked in London, Hong Kong and Singapore.

As COO for group wholesale banking, Maloney has been instrumental in driving business growth for the bank through the development and execution of strategic priorities. He led a portfolio of business support functions, including infrastructure and product development projects, client services and deal implementation, anti-financial crime operations, and data monetization efforts.

In his new role, Maloney will lead efforts to deepen UOB Thailand's digital capabilities, expand its product offerings, and connect clients to market opportunities in Thailand and across UOB Group’s regional network.

Tan joined UOB in 2012 as head of group credit (retail). He was also head of group business banking in 2016 before assuming the position of CEO of UOB Thailand. Under his leadership, UOB grew to become the second largest foreign bank and one of the top three card issuers. Tan also drove strategic priorities to facilitate foreign direct investment into Thailand and support regional clients to enter new markets.

As deputy head of group governance, risk and compliance, Tan will be responsible for enhancing the bank’s risk management approach to strengthen governance and the risk culture across the organization. He will have functional responsibilities over group risk management, group compliance, group legal and secretariat, and oversee various transactional credit approval groups and the management of asset recovery.

Vira-Anong C Phutrakul was previously the head of retail and brand at UOB Thailand. She held senior leadership positions in both retail and wholesale banking businesses at Citibank Thailand before joining UOB in 2022 to drive the integration of the Citigroup consumer business into UOB Thailand.

UOB has been operating in Thailand for more than 20 years. In November 2022, the bank announced the completion of the acquisition of Citigroup's consumer banking businesses in the country. With expanded touchpoints and more partner networks, UOB Thailand is now providing a wider range of products, services and benefits to its enlarged customer base.

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