Myanmar’s largest privately-owned bank, KBZ Bank, appoints Mike DeNoma as Special Advisor to the Chairman

Myanmar’s largest privately-owned bank, KBZ Bank, appoints Mike DeNoma as Special Advisor to the Chairman

Mr. DeNoma to be supported by newly appointed Deputy CEOs of KBZ Bank Aung Kyaw Myo, Nang Lang Kham and Nang Kham Noung

KBZ Bank, Myanmar’s largest privately owned bank, has announced the appointment of Mike DeNoma as Special Advisor to the Chairman. American-born DeNoma has held senior executive roles across the globe, managing operations across North America, Asia, Africa, Europe and the Middle East. Mr. DeNoma brings to KBZ Bank his considerable experience of the emerging markets banking sector, having previously served as the CEO and Chairman of Taiwan’s Chinatrust Commercial Bank (CTBC Bank), during which time CTBC grew rapidly and became further established in ten countries around the world.

In parallel to this appointment, KBZ has announced the promotion of Senior Managing Director Aung Kyaw Myo, Executive Director Nang Lang Kham and Executive Director Nang Kham Noung to become Deputy CEOs of the Bank.

Mr. DeNoma joins KBZ Bank from GLH Hotels in the UK, where as CEO he managed the rebrand and transformation of London’s largest hotel owner-operator. Mr. DeNoma was also CEO of GLH Hotel’s parent company GuocoLeisure or GL, which is listed in Singapore and has investments in the leisure, energy and property sectors. Prior to serving as the Chairman and CEO of CTBC Bank in Taiwan, Mr. DeNoma had a distinguished career at Standard Chartered, one of the world’s leading emerging markets banks, where he led the company’s global consumer banking business and the expansion of services across Asia, Africa and the Middle East. During this time, he served as a Main Board Director, Global CEO of Standard Chartered’s Consumer Bank and Vice Chairman of Asia while based in Singapore.

Mr. DeNoma’s experience of the Asian market goes back to the 1980s when he became Citibank’s Senior Vice President for marketing and sales for Asia in Singapore. He later moved to Hutchison Whampoa Limited in Hong Kong as the company’s chief marketing and operations officer, before founding Asia Foods Limited,a group of foreign-owned food technology companies, during the 1990s. Under his leadership, the company expanded across China, before being sold in 1999.

Mr. DeNoma’s appointment comes at an important moment for KBZ Bank as reforms open up Myanmar to foreign investment with the country’s banking sector forecast to create over 120,000 jobs by 2025, up from less than 50,000 in 2015. KBZ is at the forefront of developments in the sector, building on its trusted heritage as Myanmar’s largest private bank, while utilizing the experience of its local and international talent to embrace the best of banking innovation.

Commenting on Mr. DeNoma’s appointment, Mr Aung Ko Win, Chairman of KBZ Group said: “The high-level and wide-ranging experience that Mr. DeNoma brings from his diverse career is a strong asset to KBZ Bank, combining domestic and international banking expertise with the highest levels of customer service and innovation.We also particularly value the experience Mr. DeNoma brings from having worked with another family-owned bank, through which he has shown a track record of driving growth and success, while retaining strong family principles.”

DeNoma added, “I am delighted to be taking on this role at this important moment of growth for KBZ Bank and the Myanmar economy. Our collective ambition is to expand upon KBZ’s position as the leading bank in the country, bringing new services to our existing customers; providing new help to the current unbanked; building a new cadre of next-generation bankers; and expanding our international partnerships. I look forward to helping the Board of Directors to deliver on this strategy, working with colleagues as we move ahead with these exciting developments, and nurturing the next generation of leaders at KBZ Bank.”