UOB Thailand Appoints Richard Maloney as New Chief Executive Officer

Outgoing UOB Thailand CEO Mr Tan Choon Hin will take on new role as Deputy Head of Group Governance, Risk and Compliance

UOB Thailand announced today that Mr Richard Maloney has been appointed as its new Chief Executive Officer, effective 1 July 2024. He will succeed Mr Tan Choon Hin, who will relinquish the position after leading UOB Thailand since 2016. Mr Tan will return to Singapore and take on a new role as Deputy Head of Group Governance, Risk and Compliance. Ms Vira-Anong C Phutrakul will be appointed as Head, Wholesale Banking and Deputy CEO of UOB Thailand.

Mr Maloney is a veteran in the banking industry with 40 years of experience in Wholesale Banking, Capital Markets and Retail Banking. He has held the position of Chief Operating Officer (COO), Group Wholesale Banking, since joining UOB in 2014. Prior to UOB, Mr Maloney was Chief Operating Officer for ASEAN 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, Mr 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, data monetisation efforts among others. In his new role, Mr 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.

Mr Wee Ee Cheong, Deputy Chairman and Chief Executive Officer, UOB, said, “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.”

Mr 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. Mr 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, Mr Tan will be responsible for enhancing the Bank’s risk management approach to strengthen governance and the risk culture across the organisation. 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.

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

A key market in the Bank’s regional franchise, UOB has been operating in Thailand for more than 20 years. In November 2022, UOB announced the completion of the acquisition of Citigroup’s consumer banking businesses in Thailand. 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.