Although the Annual general Meeting (AGM) season of banks is about to pass, the hot seats at many banks are still vacant. However, as talents in banking sector are rare, owners of the above hot seats same to have been foretold.
At the AGM of Export Import Commercial Joint Stock Bank (Eximbank) held on April 27th, former general director of Nam A Commercial Joint Stock Bank (NamABank) Luong Thi Cam Tu was elected to Eximbank’s Board of directors (BOD). It is known that the State Bank of Vietnam (SBV) only accepts one of the four candidates listed for Eximbank’s BOD election this time.
Meanwhile, general director of Eximbank Le Van Quyet said that there are opinions on finding a new general director to match the bank’s development strategy in the near future.
Previously, Nguyen Canh Vinh was appointed as Eximbank’s Permanent general director. Vinh is the former director of the Transaction Centre, former Regional Sales manager and later deputy general director of Vietnam Technological and Commercial Joint Stock Bank (Techcombank). According to a reliable source, Vinh is likely to take the general director position at Eximbank in the near future.
At the AGM of Commercial Joint Stock Bank for Investment and Development of Vietnam (BIDV) held recently, senior management was also an important contents for discussion. Accordingly, BIDV’s BOD submitted shareholders for approval the dismissal of the title of BOD’s member of Nguyen Huy Tua and Le Thi Kim Khuyen, at the same time additionally electing Pham Quang Tung (former Chair of BOD of Vietnam Development Bank VDB) to BIDV’s BOD for the term 2017-2022.
Answering the question of shareholders of BIDV’s Chair position which has been vacant for almost two years, the bank’s general director Phan Duc Tu said that, according to regulations, the AGM will additionally appoint a member for the BOD (Pham Quang Tung, raising the number of BOD members to nine persons) and will elect one person to be the Acting Chair.
After the retirement of Tran Anh Tuan, BOD member in charge of operating BIDV’s BOD, the Acting Chair position will be selected. BIDV will disclose specific information at that time.
Thus, it can be seen that the chair of BIDV’s BOD will remain empty at least for the time being.
At its 2018 AGM, the BOD of Kien Long Commercial Joint Stock Bank (Kienlongbank) agreed to appoint eight members to the BOD and three members to the bank’s Board of Supervisory (BOS) for the new term of 2018-2022, including Tran Tuan Anh, Le Khac Gia Bao, Bui Thanh Hai, Nguyen Thuy Quynh Huong, Pham Tran Duy Huyen, Mai Huu Tin, Tran Van Trong, and Le Trung Viet (BOD members); and Nguyen Cao Cuong, Nguyen Thanh Minh and Dang Minh Quan (BOS members).
Accordingly, Kienlongbank’s BOD members agreed to elect Le Khac Gia Bao as the bank’s Chair of BID in the new term, replacing Vo Quoc Thang who resigned from the post.
After Thang, Vu Van Tien from An Binh Commercial Joint Stock Bank (ABBank) was the one who did not choose bank and preferred his company. Specifically, at the 2018 AGM, Tien announced his resignation as Chair of ABBank’s BOD for the new term, despite being elected. Instead, Dao Manh Khang, the bank’s vice Chair was elected to replace Tien.
Under the revised Law on Credit Institutions which took effect from January 15th 2018, Chair of BOD, general director, deputy general director of a bank should not hold equivalent titles at other enterprises; which means that a bank owner can only choose the bank or the enterprise.
To comply with this regulation, in the recent time, many businesspeople decided to leave the businesses where they have made their names to choose banks, such as Duong Cong Minh leaving Him Lam to be Chair of Saigon Thuong Tin Commercial Joint Stock Bank’s BOD or Do Quang Hien leaving T&T Group to be Chair of Saigon Hanoi Commercial Joint Stock Bank’s BOD, etc. In contrast, some others decided to leave banks such as Vu Van Tien who prioritised Geleximco, and Vo Quoc Thang who preferred Dong Tam Group, etc.
Up to now, the revised Law on Credit Institutions has been in effect for over three months but many people are still at the same time being bank leaders and business leaders, such as Le Thi Bang Tam, who is concurrently Chairwoman of Hochiminh city Development Commercial Joint Stock Bank (HDBank) and Vietnam Dairy Joint Stock Company; Nguyen Thi Phuong Thao, who is concurrently HDBank’s vice Chairwoman and general director of Vietjet Air Joint Stock Company; and Nguyen Thi Nga, who is concurrently Chairwoman of Southeast Asia Commercial Joint Stock Bank (SeABank) and BRG Group, etc.
Therefore, in the near future, the market will continue to witness many changes in banks and enterprises’ management personnel.
According to experts, in the context when the banking sector is promoting restructuring process, the senior management personnel of the sector can hardly be stable. As per Dr Nguyen Tri Hieu, a finance and banking expert, the demand for high-level human resource of the sector always exists, but is not easy to be met, because the operation of this field is always risky.
