Banking legacies and family ties shaping commercial banks in Vietnam

ACB's chairman Tran Hung Huy and his mother Dang Thu Thuy

In the realm of Vietnam's privately owned banks, a hidden tapestry of family connections weaves its way through the corridors of power, bringing an air of intrigue and familiarity to the country's financial institutions. Dynamic relationships exist within prominent banks such as Techcombank, TPBank, LPBank, OCB, SHB, ACB, and SeABank, where the ties that bind extend far beyond professional alliances.

Techcombank, a powerhouse in the banking sector, finds its leadership imbued with familial bonds. At the helm stands Ho Hung Anh, a seasoned veteran born in 1970, who serves as chairman of the Board of Directors (BoD).

By his side is his younger brother, Ho Anh Ngoc, a talent in his own right, as vice chairman of the BoD. With an impressive academic background, Ngoc obtained a bachelor's degree in Commerce-Accounting and a master's degree in Economics from the Macquarie University in Sydney, Australia. His over 14 years of dedication to Techcombank and its subsidiaries have paved the way for his ascent to the position of vice chairman, where he continues to leave an indelible mark.

TPBank, another prominent player in the domestic banking system, boasts a lineage of leadership within its ranks. Do Minh Phu, an industry luminary born in 1953, reigns as the chairman of the BoD. His younger brother Do Anh Tu shares the limelight as vice chairman of the BoD, simultaneously holding a similar role at Diana Corporation, a subsidiary of the illustrious Unicharm Group in Japan. Together, their collective vision and expertise have propelled TPBank to new heights since its inception in 2008.

LPBank witnessed a changing of the guard with the appointment of Nguyen Duc Thuy as chairman of the BoD in late 2022. Hailing from the picturesque province of Ninh Binh, Thuy took the reins from the outgoing Huynh Ngoc Huy, who graciously stepped down to pursue personal endeavours. LPBank's annual meeting in 2023 brought another fresh face into the fold. Nguyen Van Thuy, the younger brother of Nguyen Duc Thuy, emerged as a new member of the BoD, igniting speculation about his potential contribution.

At SHB, the father-son duo of Do Quang Hien and Do Quang Vinh reigns supreme. Do Quang Hien, an experienced financier born in 1962, holds the mantle of chairman of the BoD, while his eldest son Vinh a young and dynamic force, proudly sits in the position of vice chairman.

Armed with a master's degree in finance and management from the esteemed University of East Anglia in the United Kingdom, and enriched by 12 years of financial and banking experience, Vinh spearheads the bank's comprehensive transformation strategy, including digitalisation and virtual banking.

Ho Chi Minh City's OCB has carved its own path by embracing family ties within its leadership. Trinh Van Tuan, born in 1965, serves as chairman of the BoD, while his daughter Trinh Thi Mai Anh, born in 1992, assumes the role of a BoD member. The inclusion of Mai Anh, the sole female member of OCB's BoD, marks a progressive step for the bank.

With a wealth of experience garnered from her tenure at institutions such as HSBC London, Vietnam International Securities JSC, VinaCapital Group, and Temasek Holdings in Singapore, she brings a unique perspective to the table.

ACB, one of Vietnam's leading banks based in the south, showcases a tale of generational transition. In a symbolic passing of the torch, Tran Hung Huy, born in 1978, assumed the mantle of chairman of the BoD, succeeding his father Tran Mong Hung. At present, Hung may have stepped away from ACB's leadership, but the story does not end there. Dang Thu Thuy, Hung's wife, graces the BoD as a member, ensuring that the family legacy endures.

SeABank, known for its dynamic nature, witnessed a captivating shift in leadership. Nguyen Thi Nga, a remarkable woman born in 1955, initially assumed the role of chairwoman before adhering to the revised regulations of the Credit Institutions Law in 2018.

Following this transition, she chose to take on the role of chairwoman of the BoD at BRG Group, marking a new chapter in her distinguished career. Adding to the family narrative, Nga's daughter Le Thu Thuy brings her own expertise as vice chairwoman of SeABank. With a wealth of experience gained from international financial organisations and a series of pivotal roles within the bank, Thuy represents a dynamic force in the financial realm.

Peering into the intricate tapestry of Vietnam's private banks, it becomes evident that familial bonds intertwine with professional aspirations, shaping the country's financial landscape in profound ways.

These captivating family connections, embedded within the corridors of power, add a touch of intrigue and familiarity to the world of finance, ensuring that legacy and influence continue to echo through the generations.

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