Key changes in top personnel as bank restructuring gains momentum

September 27, 2016 | 09:33

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During the recent six months, Vietnam has seen the most exciting changes in high personnel at domestic banks, showing that the bank restructuring process is gaining momentum, according to newswire Cafef.vn.

Notably, Nam A Bank replaced both its general director and CEO for personnel reasons in 2015. Nguyen Quoc Toan, who was removed from the position of chairman of the board of directors in July 2015, was reappointed in April this year to replace Phan Dinh Tan.

In the same month, Le Van Quyet was elected as CEO of Eximbank. Accordingly, Quyet will join the board in the 2015-2020 period. Previously, Tran Tan Loc was elected as acting CEO since Pham Huu Phu’s end of term in October 2015.

However, the personnel problems at Eximbank are far from settled. The power struggle has become even more violent as accusations of election fraud surfaced. This newest episode to the bank’s odyssey was the reason behind the two failed shareholders’ meetings in 2016.

The bank recently decided to hold a shareholders’ meeting for the third time in August. However, the meeting has been postponed without a final decision on the number of board members to appoint.

Just in the course of last year, Viet A Bank dismissed six deputy CEOs. In May, the bank dismissed CEO Phuong Thanh Nhung and appointed her deputy chair of the board of directors instead. The bank also decided to appoint Nguyen Van Hao to the post of deputy CEO on May 6, 2016.

The winds of change did not stay away from VIB, which appointed Vuong Thi Huyen, previously director of corporate banking, and Godfrey Swain, director of retail banking, as deputy CEOs. With the appointment, VIB’s board of directors now has seven members, a CEO and six deputies.

BIDV's management board elected Tran Anh Tuan, a member since 2012, to be in charge of the board's operations from September 1, replacing Tran Bac Ha who retired in early September.

At Techcombank, Nguyen Le Quoc Anh has become general director on September 23. Previously, the bank appointed Nguyen Le Quoc Anh as its new deputy general director to maintain the bank's business activities after CEO Murat Yuldashev’s resignation on March 1.