NEW TMBAM CHIEF OUTLINES APPROACH

       Somjin Sornpaisarn, the new CEO of TMB Asset Management, said yesterday that a new approach to boosting provident funds and greater cooperation with TMB Bank would help drive growth of his company.On September 1 Somjin replaced Jotika Savanananda, who recently resigned as CEO of TMBAM to join SCB Asset Management.
       Somjin said he would retain the operating standards of the company with the strong point of a "passive investment" strategy to support him.
       "TMBAM has been a prominent organisation particular in passive investment. Other services include 'extra cash card' and a call centre. The company's focus has been on unit holders. So the new funds that we'll launch will depend on market demand and will be done along with market education," he said.
       Provident fund management would get most of his attention. By providing the employees of its clients a range of investment choices that fit their risk profiles, TMBAM could boost this business.
       TMBAM offers up to seven choices for provident fund customers. Altogether 329 companies have entrusted TMBAM to manage their provident funds with more than 46,000 members, more than half of which can choose from a menu of investment products.
       TMBAM would provide services and products via crossselling with its parent, TMB Bank, which has both corporate and retail customers.
       The market has speculated that TMBAM would be folded into ING Funds (Thailand) Co, a subsidiary of ING Group, which is a major shareholder of TMB Bank.
       Somjin said he would welcome any change.
       "Whether it (TMBAM) would be merged or not, I don't know. But both asset management companies have different characters," he said.
       329 companies with 46,000 members have entrusted TMBAM to manage their funds.