Thai Military Bank Plc (TMB) named Somjin Sornpaisal, an asset management veteran, as its affiliate TMB Asset Management Co., Ltd. (TMBAM)’s new managing director to succeed Chotika Savananont, who left the company for Siam Commercial Asset Management Plc.

Mr. Somjin will take office on September 1 2009.

Prior to joining TMBAM, he was a managing director at One Asset Management Limited.

One Asset Management has market capital of 39.8 million baht and ranked 10th in term of market share for individual investment fund.

The company does not yet name his successor.

TMB president Boontak Wangcharoen said he is gladded to welcome Mr. Somjin joining the company to push forward organization growth and development.

TMBAM specializes in business development and asset management under management policy of the Thai Military Bank.