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SET President Ms. Patareeya Benjapolchai elaborated that the SET Board approved the restructuring in its meeting of June 28. It has appointed Ms. Sopawadee Lertmanaschai to be President of TSD - its subsidiary with extensive business coverage offering comprehensive after-sales services for securities trading. The Board recognizes that Ms. Sopawadee has extensive experiences in working with personnel in capital markets. She thoroughly understands the needs of entrepreneurs as well as investors and the Board has full confidence that she would improve the Depository’s strengths. Work in the pipeline includes preparation for linkages between regional stock exchanges for straight through processing, shortening the settlement period to T+2, promoting Initial Public Offerings (IPOs) online, as well as handling securities borrowing and lending transactions.
“Given her recognized capabilities and potential as well as her proven ability to coordinate between exchange members and listed companies, the Board is confident that under her leadership, TSD will become Thailand’s largest center for securities clearing and settlements in the country and a prominent player in the region as well”, said Ms. Patareeya.
TSD consists of 3 divisions, i.e., depository and clearing, registration and services, and business support. Moreover, it has four wholly-owned subsidiaries, the main one being the Back Office Services Bureau. This provides clearing and settlement services for derivatives - a business which should see increasing interest due to the gaining popularity of derivatives. The Bureau works closely with other related authorities in the region to support and facilitate the expansion of derivatives. TSD’s other subsidiaries are Thai NVDR Co. Ltd., Siam DR Co. Ltd., and Thai Trust Management Co., Ltd. Ms. Sopawadee is already a director of three of the above subsidiaries, so the Board is confident that she will be able to carry out the work seamlessly.
Ms. Sopawadee, 52, has been with SET since 1977. She obtained her Master’s degree from the Faculty of Commerce and Accountancy, Thammasat University and is a graduate of the Wharton Advanced Management Program, University of Pennsylvania, USA. She has worked in several top executive capacities, including market regulations, listing and disclosure, enforcement, trading system, information technology and Market for Alternative Investment (mai). Her latest position is that of Chairman of SET Capital Market Opportunity Center
In addition, the SET Board appointed Ms. Nongram Wongwanich, currently President of TSD, to be Chief Operating Officer (COO) in charge of Corporate Operations. She is 54, joined SET in 1975, and has been top executive in many areas, including the Trading Room, Operations, Computers, Member Services, Securities Transfer. She became an EVP in 1994, before becoming President of TSD in 1995 until now. Her BBA is from the Commerce & Accountancy Faculty, Chulalongkorn University; and her MBA from Sasin Graduate Institute of Business Administration, Chulalongkorn University. She graduated from the Columbia Senior Executive Program 2002, Columbia Business School, USA.
As SET Chief Operating Officer, Ms. Nongram’s work includes being a director of all SET subsidiaries and coordinating between SET and its subsidiaries. She will also be in charge of all resources management, including Human Resources, Investment Management, and Planning & Budgeting.
In the third appointment of the day, the SET Board appointed SET EVP Mr. Vichate Tantiwanich to lead the expanding of the investor base and increasing the number of listed companies in accordance with SET targets and policies.
Mr.Vichate, 45, joined SET as Managing Director of Family Know-how Co., Ltd. in 2002. His BBA is from Faculty of Economics in Finance, Chulalongkorn University, and his MBA in Finance & Marketing is from University of Hartford, Connecticut, USA. He is expert in both capital and money markets, specializing in marketing. In addition, he still remains on mai’s Advisory Committee and now becomes the first CEO of Family Know-how Co.,Ltd.
“The Board agreed that this restructuring would enhance the management capability of both SET and its subsidiaries to be ready for ever-changing external environments. Besides, this will broaden and strengthen the experience to each top executive involved. The Board is fully confident that each person would bring his/her own strengths to successfully continue to play a key role in fulfilling SET’s mission”, concluded Ms. Patareeya.
