Six contenders vie for the position of Bank of Thailand Governor, with the final selection slated for July.

The Race to the Top: Contenders Fighting for the Position of Bank of Thailand's Governor

It's crunch time as the hunt for the next Governor of the Bank of Thailand (BOT) heats up. With Sethaput Suthiwartnarueput's term approaching its end on September 30, six hopefuls are gunning for the coveted position. The selection process is set to wrap up on June 4, under the watchful eye of the Finance Ministry's former Permanent Secretary, Sathit Limpongpan, overseeing the selection committee.

The stakes couldn't be higher, as the new governor will need to steer Thailand's economic ship through stormy waters, tackling challenges such as pushing long-term growth, infrastructure development, and structural economic issues. While swift results may not be guaranteed, addressing these concerns is essential for ensuring the country's competitive edge on the global stage and mending its economic shortcomings in the long run.

A Battle of Heavyweights

Sutapa Amornvivat

With a powerful pedigree and a truckload of experience, Sutapa Amornvivat stands as a strong contender. Hailing from a prominent political family, she recently called it quits as the CEO of Abacus Digital. Her impressive resume includes prestigious posts like Executive Vice President and Chief Economist at Siam Commercial Bank, spellbinding stints at the International Monetary Fund (IMF), and time at the Risk Management Division of ING Financial Group in the Netherlands. If chosen, Sutapa intends to collaborate with the government to fuel Thailand's economic engine, implementing both monetary and fiscal policies to fortify the country's economic health.

Sutapa shares a memorable family connection with Julapun Amornvivat, the current Deputy Finance Minister.

Related- Trump tariffs leave deep scars on Thai economy: BOT chief- Cabinet approves Somchai Sajjapongse as new BOT board chairman- BOT targets mule accounts with new digital fraud management rules

Wittaya Rattanakorn

Wittaya Rattanakorn is another force to be reckoned with, garnering support from high-ranking political figures like the Deputy Prime Minister from the Paetongtarn Shinawatra administration and ex-Prime Ministers from the Pheu Thai Party. Wittaya has been packing his bags as the Director of the Government Savings Bank (GSB) since July 1, 2020. He has led the Social Bank initiative, positioning the GSB as a mighty non-bank financial player, making low-interest loans more accessible to SMEs. Wittaya has also been instrumental in the government's bid to curb household debt, spearheading initiatives like the "Khun Suu Rao Chuay" debt relief program.

Rung Posayanon Mallikamas

Internal favorite, Rung Posayanon Mallikamas, boasts a wealth of banking sector experience and titanic support from the industry insiders who believe she'd be an astounding fit for the job. As Deputy Governor of Financial Stability at the BOT, Rung serves on several key committees, including the BOT Board of Directors, Financial Institution Policy Committee (FIPC), and the Payment Systems Committee (PSC). With over 20 years under her belt in the financial sector, Rung has also been a Board Member of the Monetary Policy Committee (MPC). Her significant contributions to Thailand's financial landscape include driving projects like Your Data, the establishment of Virtual Banks, and the enhancement of credit guarantee mechanisms.

Somprawin Manprasert

Supported by government advisors and allies linked to Banyong Pongpanich, Somprawin Manprasert brings a rich background in economics and finance to the table. He currently serves as a Board Member of the National Economic and Social Development Board and has previously held key roles as Chief Economist and Chief Strategy Officer at Siam Commercial Bank and Chief Economist at Bank of Ayudhya. Somprawin's deep understanding of Thailand's economic landscape and his knack for crafting solutions to complex problems make him a valuable asset.

Kobsak Pootrakool

Recognized for his expertise in international economics and Thailand's financial sector, Kobsak Pootrakool currently heads up Bangkok Bank (BBL) as an Executive Vice-President. With a background at the Bank of Thailand, Kobsak also has leadership roots in the Federation of Thai Capital Market Organisations (FETCO) and the Thai Listed Companies Association. In his former role as Assistant Minister to the Prime Minister's Office, he played a pivotal role in economic policy, financial governance, and capital market development, collaborating with the Bank of Thailand and the Stock Exchange of Thailand.

Anusorn TamajaiDodging the limelight yet again, Anusorn Tamajai is making another bid for the BOT governorship, having first applied in 2020. Known as a vocal economist with engaging ideas for improving Thailand's competitive edge, Anusorn is a cornerstone member of the Pridi Banomyong Institute and the Pridi Banomyong Foundation, championing social policies aimed at elevating the country's overall development. Anusorn's impressive resume includes Director of the Economic and Business Research Center at Rangsit University, Dean of the Faculty of Economics, and Board Member of the Bank of Thailand. He has also offered keen insights into public policy discussions, particularly Thailand's public debt management.

The Quest for a New Leader

The selection committee is set to convene on June 24 to debate the candidates' visions for Thailand's financial future. Once the slate is finalized, the decision will be submitted to the Minister of Finance on July 2, with Cabinet approval following suit. The new BOT Governor will then face the King, marking the end of this gripping process.

TAGS
Bank of Thailand
Governor
economy
finance
banking
Breaking News
Thai government approves measures to reform the Kingdom's energy industry
Thailand's consumer confidence holds steady amid political uncertainties
Government gears up to offer 5G spectrum licenses in August
Proposed cryptocurrency law in Thailand faces obstacles as regulators struggle to strike a balance between innovation and control
Thai government pledges support for domestic industries as trade tensions with the US escalate
The contenders vying for the Bank of Thailand's governorship are all well-equipped in economics, finance, and the banking sector, with experiences spanning international institutions and domestic policy-making.
Sutapa Amornvivat, with her extensive background at the International Monetary Fund and Siam Commercial Bank, aims to collaborate with the government to implement monetary and fiscal policies that strengthen Thailand's economic health.
Wittaya Rattanakorn, as the Director of the Government Savings Bank, has focused on making low-interest loans more accessible to SMEs and spearheading debt relief programs.
Rung Posayanon Mallikamas, a long-time BOT Deputy Governor, boasts significant contributions to Thailand's financial landscape through various committees and projects.
Somprawin Manprasert, supported by government advisors, brings a rich background in economics and finance, particularly in Thailand's economic policy and financial governance.
Kobsak Pootrakool, currently at Bangkok Bank, offers valuable insight into the Kingdom's financial sector and has played a crucial role in economic policy, financial governance, and capital market development.
Anusorn Tamajai, a vocal economist and member of the Pridi Banomyong Institute, is making another bid for the BOT governorship to improve Thailand's competitive edge and elevate the country's overall development.
The selection committee will convene on June 24 to discuss the candidates' visions for Thailand's financial future, with the new BOT Governor expected to face the King following Cabinet approval.