Thanachart Capital Plc (TCAP) has announced Somjate Moosirilert as the company's new chief executive, effective Jan 1, 2019.

Mr Somjate will replace outgoing chief executive Suphadej Poonpipat, whose term will expire soon. The Bank of Thailand yesterday approved the appointment of Mr Somjate.

Mr Suphadej still sits as vice-chairman of the board of directors and chairman of the executive committee.

Thanachart Bank (TBank), a subsidiary of TCAP, said Praphan Anupongongarch, executive vice-president for automotive lending, will replace Mr Somjate as chief executive, president and director of TBank, effective Jan 1. Mr Praphan was also approved by the central bank.