CAPITAL MARKETS
Mr.Veerathai has a doctorate in economics from Harvard University and was an Eisenhower Fellow in 2013. He returned to Thailand to lead the Policy Research Institute of the Ministry of Finance during the Asian financial crisis, and is credited with driving the development of the country's capital markets and the integration of Southeast Asian capital markets during his tenure as chief strategy officer at the Stock Exchange of Thailand (SET).
The incoming governor is familiar with some of the challenges of the role, through his position on the central bank's seven-member Monetary Policy Committee (MPC), which sets the Bank of Thailand's benchmark interest rate [policy interest rate]. The committee voted unanimously last month to keep the key rate at 1.5% after two consecutive cuts, and said borrowing costs were already supporting a gradual economic recovery.
Mr. Veerathai is also a member of the junta's so-called "super board," which Gen Prayut tasked with supervising Thailand's state enterprises last year. Gen Prayut heads the 17-member board, which also includes present governor Prasarn.
EXPERIENCED OUTSIDER
The incoming governor's experience outside the central bank will be an asset, said Kongkiat Opaswongkarn, chief executive officer of Bangkok-based brokerage Asia Plus Group Holdings.
"I think people from inside don't actually understand what the real business world is, " Mr. Kongkiat said. "I think people from outside, at least they can bring in the expertiseand knowledge that they gained from working in different organisations outside the Bank of Thailand and try to blend that with the culture and philosophy within."