Deutsche Bank said on Wednesday that it has named Phumchai Kambhato as chief country officer for Thailand, succeeding Frank Krings.
In addition to his new responsibilities as chief country officer, Kambhato will also hold the role of head of corporate finance for Thailand.
He will report into Gunit Chadha, Deutsche Bank's chief executive officer for the Asia-Pacific region, in his country management capacity and also to Richard Gibb and Simon Roue, co-heads of corporate finance, Asia Pacific. The appointment is effective immediately.
Krings is heading back to Frankfurt although his role has not been announced yet, according to a person familiar with the changeover.
At Deutsche Bank's annual press conference in Frankfurt on January 28 co-CEO Juergen Fitschen said that Deutsche Bank's Asia-Pacific revenues in 2015 exceeded €4 billion, which was up 14% on 2014.
He added that all of its businesses in the region grew by double-digit percentages on the previous year.
Despite posting a record loss for 2015, Fitschen said that Deutsche Bank would not reduce its focus on Asia or on any individual market there.
Prior to joining Deutsche Bank in 2013, Kambhato worked at UBS Securities, Bualuang Securities, Jardine Fleming, and Robert Fleming & Co.
He holds a BA in engineering, economics and management and a M.Phil in management studies from Oxford University.
