Two candidates have been shortlisted for the top job at the the Bank of Thailand when Prasarn Triratvorakul steps down on Sept 30.
The selection committee for the new central bank said the names of the two had been picked from among five applicants and forwarded to Finance Minister Sommai Phasee for the final selection, committee chairman Sompol Kiatphaibool said. He did not name the two shortlisted candidates.
Veerathai Santiprabhob, a member of the Bank of Thailand's board and Monetary Policy Committee, Paiboon Kittisrikangwan, a deputy governor, and Tongurai Limpiti, another deputy governor who is responsible for financial institutions' stability, were originally tipped to be on the shortlist.
Mr Veerathai is believed to be backed by Somkid Jatusripitak, a foreign affairs adviser to the National Council for Peace and Order and a former finance minister, while Deputy Prime Minister MR Pridiyathorn Devakula supports any of the bank insiders.
Mr Veerathai, who would become the youngest central bank governor if picked to take over the post, has diverse experience in financial and capital markets.
After earning his doctorate in economics from Harvard University, he began his career as an economist at the International Monetary Fund and was involved in the commercial banking sector as an executive vice-president and head of strategic planning at Siam Commercial Bank.
He was also appointed as an executive vice-president and chief strategy officer at the Stock Exchange of Thailand, supervising overall strategic initiatives, capital market research and Thailand's Capital Market Development Plan.
Moreover, Mr Veerathai is presently a member of the State Enterprises Policy Commission or superboard chaired by Prime Minister Prayut Chan-o-cha.
Mr Paiboon's strength is his 30 years' experience as a veteran central banker, with professional experience in all core central banking areas — financial institutions, monetary policy and foreign exchange.
He was part of the team that defended the baht before the central bank decided to adopt the managed-float regime to replace the US-dollar-pegged system in July 1997.
He now oversees corporate support services and banknote management.
Mr Paiboon was a recipient of a central bank scholarship, with which he earned his bachelor's degree from the London School of Economics and master's from the University of Chicago.
Mrs Tongurai would be the second female governor after Tarisa Watanagase if she is chosen.
All five candidates, who met qualification criteria of the selection committee, yesterday made 30-minute closed-door presentations to the committee, with Mr Paiboon going first after drawing lots.
None of them gave an interview to the media regarding details of their presentation, however.
Also running in the race are Supavud Saicheua, managing director of Phatra Securities and a former adviser to Mr Somkid when he was finance minister in the Thaksin Shinawatra government, and Kiatchai Sophastienphong, a former director of monetary policy at the Bank of Thailand.
The two-person shortlist was forwarded yesterday to Mr Sommai, said Krisada Chinavicharana, director-general of the Fiscal Policy Office and secretary of the selection committee.
Mr Krisada declined to specify any names.
The finance minister will now pick one candidate and submit that person's name for final cabinet approval.
The 23rd central bank governor will be officially appointed no later than July 2.
Bank of Thailand governors serve five-year terms.