Significant implications for the subsequent head of the central bank
Time's tickin' down for Governor Sethaput Suthiwartnarueput', as his term ends on the 30th of September. Amidst global instability, domestic fiscal pressure, and calls for monetary policy recalibration, finding his successor at Thailand's central bank has become one of the country's hottest topics in the financial sector.
The selection committee, led by former finance minister Sathit Limpongpan, is vetting candidates that promise a delicate balance between taming inflation, boosting economic recovery, and strengthening financial resilience in a volatile global environment.
Up against the odds is a fantastic lineup of seven powerhouses from academia, government, and the private financial sector. One prominent candidate is Sutapa Amornvivat, a 51-year-old whip-smart economist with a stunning resume that includes a Harvard bachelor's in Applied Mathematics and a PhD in Economics, Management, and Policy from the Massachusetts Institute of Technology (MIT).
Her credentials push the envelope, with work at the International Monetary Fund and ING Financial Group under her belt. After returning to Thailand, she joined the Fiscal Policy Office before skyrocketing to Deputy CEO and Chief Economist roles at the Siam Commercial Bank (SCB), where she headed the Economic Intelligence Center (EIC).
Another highlight is her pioneering of Abacus Digital – Thailand's first fintech spin-off under SCB – focusing on AI-based credit scoring and ethical lending practices. With Thailand grappling with fiscal and monetary challenges, Sutapa's analytical prowess, innovative heritage, and cross-sectoral mastery make her a promising frontrunner for the central bank's top job.
In addition to Sutapa, there are six other heavyweights in the race:
- Anusorn Tamajai, a 59-year-old professor at the University of the Thai Chamber of Commerce with experience on the Bank of Thailand's Monetary Policy Committee and in government service.
- Kobsak Pootrakool, a senior executive at Bangkok Bank with a doctorate from MIT and extensive public and private sector experience.
- Roong Mallikamas, a deputy governor at the Bank of Thailand, boasting policy expertise in financial institutions, markets, and monetary policy.
- Somprawin Manprasert, a former chief economist at Siam Commercial Bank and Bank of Ayudhya with a background in academia and government.
- Vitai Ratanakorn, the president of the state-owned Government Savings Bank.
- Unnamed candidates from the government and private sectors make up the last two contenders.
As the selection process moves forward, everyone eagerly awaits the announcement of the lucky challenger tasked with navigating Thailand's monetary policy through an era of heightened uncertainty. The clock's a-ticking – stay tuned!
The selection committee, led by former finance minister Sathit Limpongpan, is not only vetting candidates with a balance of taming inflation, boosting economic recovery, and strengthening financial resilience in the volatile global environment, but also those with a strong background in business and technology.
Among the seven powerhouses vying for the central bank's top job, Sutapa Amornvivat, a 51-year-old economist, stands out with her impressive credentials and innovative heritage in the field of technology, particularly in fintech.
