Rapee Sucharitakul, a member of the State Enterprises Policy Commission or superboard and a former chairman of Kasikorn Asset Management Co, has been appointed by the cabinet to replace Vorapol Socatiyanurak as head of the Securities and Exchange Commission (SEC).
The appointment will take effect on Friday, the day after Mr Vorapol's term expires.
Mr Rapee won the race, in which SEC deputy secretary-general Tipsuda Thavaramara also reportedly joined.
A brokerage industry source said Mr Rapee was appointed to head the SEC due to his extensive experience as an executive of private firms and regulators.
He worked at the securities watchdog for more than a decade before resigning to become chairman of Kasikorn Securities Plc for three years to 2008.
His last position at the SEC was as senior assistant secretary-general, and he was director of several departments including Capital Market Development and Market Intermediaries Supervision.
In the meantime, a committee set up by Finance Minister Sommai Phasee to nominate the Bank of Thailand's new governor has picked former Stock Exchange of Thailand chairman Sompol Kiatpaiboon as its chairman, the ministry said in a statement.
Applications for central bank governor are expected to be accepted from early next month. The four-year term of incumbent governor Prasarn Trairatvorakul will expire on Sept 30.