Charamporn takes the post of Thai bourse’s president
Former senior executive vice president of Siam Commercial Bank Plc, Charamporn Jotikasthira, yesterday became the new president of the Stock Exchange of Thailand (SET), succeeding Patareeya Benjapolchai whose tenure ends on May 31.
Charamporn, selected by SET’s board of governors in March, will serve his four-year term as the Thai bourse’s eleventh president until May 31, 2014.
Charamporn, 53, earned his bachelor’s degree in Electrical Engineering and Computer Science from the Massachusetts Institutes of Technology and an MBA from Harvard Graduate School of Business Administration, USA.
He joined the Siam Commercial Bank Plc (SCB) in 1985 by working with the bank’s IT department and later rose to several key positions until became the managing director of SCB Asset Management and president and the chief executive officer of SCB Securities.
In addition to the position of SCB’s senior executive vice president, Charamporn was also the bank’s chief information officer.
Regarding the appointment of Charamporn, SET chairman Sompol Kiatphaibool recently disclosed that the bourse’s board of governors had appointed Charamporn on the basis of his experiences in both the financial and capital markets, which are considered to be of significant value in leading the organization and carrying on SET’s strategies to achieve its goals and follow the Capital Market Development Plan of the government.
According to the Capital Market Development Plan approved by the Thai cabinet,
SET’s four main strategies are to enhance market quality and integrity, to increase liquidity, to build a foundation for strong and sustainable development, and to prepare for the SET’s demutualization.
The strategies will help enhance the SET to be a major mechanism in harnessing, allocating and maintaining the effective usage of economic resources, helping Thailand to be competitive, said the Plan.
The SET board of governors is comprised of a maximum of eleven people, five of whom are appointed by the Securities and Exchange Commission (SEC), the other five elected by SET members and the SET president, appointed by the Board, is an ex-officio member of the board.
The board of governors is also responsible for formulating the SET policies and supervising the Exchange’s operations as certain rules and regulations prescribed by the board however must be approved by the SEC.
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