BFIT Securities' image in recent years was negative following problems with the Stock Exchange of Thailand concerning the recruitment of marketing traders, but the company has proved that it did not break any SET rules, he said.

"Our poor image has started to improve and a larger number of people understand us. We now require the recruitment of only marketing traders who have a good record in previous jobs," said Prasit.

The Administrative Court last year ruled that the SET had to pay damages of Bt40,000 each plus 7.5-per-cent interest per annum to four securities traders who had filed a lawsuit against the bourse for suspending their trading rights after they transferred from Seamico Securities to BFIT Securities.

The SET had accused them of transferring to a new company without receiving approval from their previous employer.

Prasit was promoted to chief executive officer of BFIT Securities on January 1, after joining the company as deputy CEO last year. The brokerage now has 322 employees.

He said his promotion had not been too fast.

"Going fast or slow in career advancement depends on ourselves. We have to pay attention to work and love it. My working philosophy is understanding, accessibility,

development, integrity, and giving a chance to others," he said.

Prasit earned his first degree from Rajamangala Institute of Technology, Southern Campus, Songkhla, before gaining a master's in political science at Chulalongkorn University and a PhD at the University of Hawaii.

He started working at the Hat Yai branch of the now-defunct Yuanta Securities and moved to Trinity Securities, also in Hat Yai.

During his 10-year working stint in Hat Yai, he managed client portfolios worth a combined Bt10 billion.

Prasit was later assistant manager at United Securities, before moving to Finansa Securities and then joining BFIT Securities.

"The CEO position is a challenging job because the CEO must take responsibility for stakeholders. I have to offer returns to shareholders and happiness to employees under my leadership. Even though it is a tough task, we have to do our best," he said.

He added that his responsibility covered generating income for the front office and controlling costs for the back office. BFIT Securities' costs average 0.12 per cent, below the industry average of 0.18 per cent.

"In the brokerage business, the main income derives from commission fees. Amid strong competition and political uncertainty, the industry is in the doldrums. The stock market would rebound if the political situation improved. As for liberalisation, we have to closely monitor it and prepare for the competition," he said.

Prasit also said he had set a target to upgrade BFIT Securities as one of the top 10 brokers.

The company has a market share of 3 per cent with 5,500-6,000 accounts, of which 1,500-1,800 are active.

Eighty per cent of its customers are retail.

Siriporn Chanjindamanee

The Nation