Eastspring Investments has appointed Adisorn Sermchaiwong as its Thailand chief, effective 10 September.
He is now the CEO for both TMBAM Eastspring (TMBAM ES) and Thanachart Fund Eastspring (TFUND ES), according to a statement. He will report to Wai-Kwong Seck, Eastspring’s CEO.
Sermchaiwong replaced both CEOs of each firm. TMBAM’s Somjin Sornpaisarn retired after spending 11 years with the firm, while TFUND’s Boonchai Kiattanavith left the firm to pursue other interests, the statement said.
TMBAM Eastspring was created after Eastspring acquired 65% of Bangkok-based TMB Asset Management from TMB Bank in 2018, while TFUND ES was established after Eastspring completed the acquisition of 50.1% of Thanachart Fund Management.
Sermchaiwong will be responsible for overseeing the integration of the two entities, according to the statement. In an announcement in December, both TMB and Eastspring said they plan to merge TMBAM ES and TFUND ES by 2021.
TMBAM ES and TFUND ES have combined assets of THB 370bn ($12bn) as of the end of June, making Eastspring the fifth largest asset manager in Thailand with a market share of 8%, according to the statement.
Before joining Eastspring, Sermchaiwong was the president and CEO at CIMB Thai Bank. Having worked with the bank since 2012, he held a number of roles, including deputy CEO and head of retail banking. He also held senior positions at UOB Thai Bank and Siam Commercial Bank, and was president of SCB Asset Management, the statement added.