By Thiwari Werayasobprasong
Dr. Prasarn Trairatvorakul, AIT’s distinguished alumnus, was appointed as the new Chairman of the Stock Exchange of Thailand’s (SET) Board of Governors with effect from February 5, 2021.
“I feel honored to be, once again, part of the development of the Thai Capital Market, and of the facilitation of the country’s savings and investments,” said Dr. Prasarn.
Despite having to take the post in challenging times, Dr. Prasarn is confident with the growth and development of the Thai capital market. He views what happened due to Covid-19 crisis, a few activations of circuit breaker last year, as an adjustment of the market to the global crisis.
Through the downs and ups again of the stock prices and trading volumes, he points to the depth and resilience of the Thai stock market, and a reflection of investors’ confidence.
The challenge for Dr. Prasarn is how to cope with new forms of market and financial products, partly as a result of advancement in Technology. “There are demands for us to welcome new kinds of products and trading. We certainly don’t want to obstruct any useful innovation, whilst always have to be mindful of market integrity and adequate investors’ protection.”
A former Governor of the Bank of Thailand, former Secretary-General at the Securities and Exchange Commission, and former President of Kasikorn Bank – one of the largest commercial banks in the country, Dr. Prasarn is now the 17th Chairman of the Stock Exchange of Thailand, whose term will end on February 4, 2024. He is also currently serving as the Chair of Equitable Education Fund’s Board of Governance, and as the Chairman of the Council of Trustees and Board of Directors of Thailand Development Research Institute.
Having served in various high-profile positions in banking and financial sectors, Dr. Prasarn had in fact obtained his bachelor’s degree in engineering from Chulalongkorn University, and a master’s degree in industrial engineering and management of Asian Institute of Technology, before he completed MBA and PhD in Business and Administration from Harvard University.
Speaking of his time at AIT, the new Chairman of SET’s Board of Governors reflected, “AIT introduced me to the important roles of Technology in Economic and Social Development. I had a very good experience there, meeting students and faculty members from many different countries, which had expanded my horizons. The classes were not too big, so I got the opportunity to get to know my classmates, especially from Asian countries, very well.”
From a young graduate whose early exposure to the international community was through his affiliation with AIT, Dr. Prasarn went on to make significant contribution to the enhancement of Thailand’s economic reputation. He is widely recognized and in 2011 he was awarded the Central Bank Governor of the Year Award by the Emerging Markets magazine.
Trusted with steady hands to steer Thailand through turbulent times — as the Governor of the Bank of Thailand, during a crucial period in the aftermath of the global financial crisis, and now as the Chairman of SET’s Board of Governors, during the Covid crisis, Dr. Prasarn is certainly the pride of AIT.