Techcombank foreign CEO leaves post

August 19, 2013 | 15:23

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Techcombank’s British CEO Simon Morris has resigned “for personal reasons” after almost two years at the commercial bank.

Board member Do Tuan Anh was named on August 13 as acting CEO.

Techcombank was the first Vietnamese bank to hire a foreign CEO. Morris previously held executive posts with the British-based Standard Chartered Bank in countries across Africa and Asia. In December 2011, he became CEO at Techcombank, where UK-based HSBC Holdings Plc currently holds a 20 per cent stake.

Techcombank chairman Ho Hung Anh said the Briton had helped strengthen his bank by improving the bank’s branches, developing staff skills and professionalism and human resources in line with the bank’s strategic direction.

He added his board of directors believed the acting CEO’s appointment would help the lender maintain its restructuring process and strategic direction of the bank’s growth.

Tuan Anh, the new head, was appointed to the board last December. Joining the bank in 2007, he had held a number of senior management positions within and outside Techcombank, including posts as head of the supervisory board and head of strategy. He also has governance experience in the banking industry having previously served as head of the banking supervision committee at the State Bank. The 40 year-old holds a Singaporean master degree in investment and property management.

The lender’s consolidated report for the first quarter of 2013 put the quarter’s pre-tax profits at VND397 billion ($18.9 million).

By By Tuong Thuy

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