RBS hires Charly Madan as new Thai country chief

Madan replaces Plakorn Wanglee, who left to join Standard Chartered and is said to have taken four other Thai coverage bankers with him.

Royal Bank of Scotland has appointed Charly Madan as its new country executive and head of international banking for Thailand. Madan, who joined the bank on December 1, is responsible for the overall management of RBS’s businesses in Thailand and in ensuring that it is compliant with regulatory requirements. He reports to Madan Menon, RBS’s head of international banking for Asia-Pacific.

Madan was previously the head of corporate banking at Bank of Ayudhya (known as, Krungsri), one of the biggest and oldest banks in Thailand. In addition, he was also the chairman of Krungsri Factoring and on the board of directors for Krungsri Securities. He assumed those roles in January 2010.

He has more than 25 years of banking experience in Asia, including leadership positions in corporate and consumer banking. Before joining Krungsri, he was the country officer for Citibank Vietnam for five years and worked in Citibank Thailand as head of the global relationship and financial services group for nine years. He was also with Standard Chartered in Thailand for five years.

He replaces Plakorn Wanglee, who left to join Standard Chartered, as a senior executive vice-president and head of origination and client coverage for Thailand, effective November 29.

According to a press release put out by Standard Chartered, Plakorn has more than 19 years of experience in the banking and finance industry and he has contributed to several high profile mergers and acquisitions, as well as debt, equity and markets transactions for Thai and international corporations. In his new role, he will be leading the bank in strengthening its relationships with corporates and financial institutions.

Wanglee left RBS about two months ago and took along four other core members of RBS’s Thai coverage team. The team was said to have left RBS because it is no longer focused on M&A and equities — having sold off that business in Asia. A spokeswoman for Standard Chartered said she was unable to comment on whether the four bankers had joined the firm.

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