Bangkok on Tuesday picked Prasarn Trairatvorakul, the chief executive of Thailand's fourth biggest lender, to replace Tarisa Watanagase as the governor of the central bank when her term ends in September.

Thailand's cabinet named Prasarn, who was considered the frontrunner for the post, at a meeting on Tuesday morning. His appointment must now be formally approved by King Bhumibol Adulyadej, the country's monarch. Abhisit Vejjajiva, the country's prime minister, told reporters in Bangkok that he