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The trend of bringing family members into the leadership of private banks in Vietnam is becoming increasingly evident. In particular, many banks popularize the "model" of father/older brother as chairman, son/younger brother as Vice Chairman.
TPBank: You are the Chairman, I am the Vice Chairman
In 2008, Tien Phong Bank (TPBank) was established. Mr. Do Minh Phu (born in 1953), the current Chairman of the Board of Directors, is also a founding member of this bank.
Before establishing TPBank, Mr. Phu was the founder of Doji Gold and Gemstone Group JSC. Currently, he represents Doji and owns nearly 94 million TPB shares, equivalent to 5.93% of the bank's charter capital. Based on TPB's current market price, these shares are worth about VND2,200 billion.
Meanwhile, Mr. Phu's younger brother, Do Anh Tu, was elected Vice Chairman of TPBank's Board of Directors in 2012.
Mr. Tu owns more than 58.6 million TPB shares (3.7%), worth about 1,138 billion VND.
In addition, Mr. Tu's wife and children and Mr. Phu's two children all own tens of millions of TPB shares.
The total amount of TPB shares held by the two brothers Do Minh Phu, Do Minh Tu and their relatives is up to nearly 290.5 million shares, equivalent to about 6,800 billion VND.
TPBank Chairman Do Minh Phu (left) and Vice Chairman Do Anh Tu
SHB: Father as Chairman, son as Vice Chairman
Mr. Do Quang Hien (Bau Hien) is known as the founder of Saigon-Hanoi Commercial Joint Stock Bank (SHB) as Chairman of the Board of Directors.
In recent years, the generational transition of Mr. Hien has been clearly demonstrated through the appointment of his eldest son, Do Quang Vinh, as Deputy General Director of the bank since October 2021. The 2021 SHB Shareholders' Meeting officially elected Mr. Vinh as a member of the Board of Directors. In April 2023, Mr. Do Quang Vinh was elected Vice Chairman of the Board of Directors.
At SHB, Mr. Do Quang Hien directly holds 78 million shares (2.54%). Meanwhile, Mr. Do Quang Vinh directly holds only 736,000 shares (0.024%).
However, Mr. Vinh's younger brother, Do Vinh Quang, currently holds more than 84 million SHB shares. In total, Mr. Hien and his two sons own shares worth about VND2,000 billion.
SHB Chairman Do Quang Hien and Vice Chairman Do Quang Vinh.
Techcombank: You are the Chairman, I am the Vice Chairman
Two years ago, Techcombank, with Mr. Ho Hung Anh as Chairman of the Board of Directors, also added a Vice Chairman of the Board of Directors, Mr. Ho Anh Ngoc, Mr. Ho Hung Anh's younger brother.
Businessman Ho Anh Ngoc (born in 1982) was elected to the Board of Directors of Techcombank for the 2019-2024 term at the 2021 Shareholders' Meeting. Mr. Ngoc has held important positions at Techcombank since 2007.
Mr. Ngoc is also known as Chairman of the Board of Directors of One Mount Group, Chairman of the Board of Directors of 1MG Housing JSC, Chairman of the Board of Directors of One Distribution JSC.
At Techcombank, Mr. Ho Anh Ngoc does not directly own any shares, while Mr. Hung Anh holds 39.3 million shares (1.1%).
Mr. Ho Hung Anh (left) and Mr. Ho Anh Ngoc (second from right) on the day Mr. Ngoc was elected to the Board of Directors of Techcombank. (Photo: TCB).
ACB: Son is Chairman, mother is member of Board of Directors
In 2012, Mr. Tran Hung Huy (born in 1978) succeeded his father (Mr. Tran Mong Hung) as Chairman of the Board of Directors of ACB Bank. At that time, Mr. Huy was the youngest chairman of a bank at the age of 34. To date, no one has broken Mr. Huy's record of being the youngest person elected as chairman of a bank.
Chairman Tran Hung Huy is holding 115.73 million shares, worth around 2,900 billion VND.
Mr. Tran Mong Hung is no longer a member of the Board of Directors of ACB. However, Ms. Dang Thu Thuy (born in 1955, Mr. Hung's wife) has been a member of the Board of Directors of this bank since 2011. Ms. Thuy owns 40.34 million ACB shares, worth about 1,000 billion VND.
ACB Chairman Tran Hung Huy and his mother, Ms. Dang Thu Thuy, Member of ACB Board of Directors
It is known that Ms. Dang Thu Thuy has worked at ACB since its establishment, holding the positions of Chief of Office and Human Resources Director. Currently, she is a member of the Founding Council and a member of the Board of Directors of ACB.
The Chairman of ACB has shared pictures and expressed his love for his mother many times on his personal Facebook page. He has always received admiration from the online community, especially those working in the banking industry.
LPBank: You are the Chairman, I am a member of the Board of Directors.
In 2021, businessman Nguyen Duc Thuy (born in 1976) was elected to the Board of Directors of Lienvietpostbank (now LPBank). At the end of 2022, the businessman from Ninh Binh was officially elected as Chairman of the Board of Directors of this bank, replacing Mr. Huynh Ngoc Huy who resigned according to his personal wishes.
At the 2023 Shareholders' Meeting, Mr. Nguyen Van Thuy (born in 1981, Mr. Thuy's younger brother) was elected to the Board of Directors for the 2023-2028 term. Mr. Thuy is one of four new members, joining LPBank's Board of Directors for the first time.
LPBank Chairman Nguyen Duc Thuy currently directly owns more than 47.8 million LPB shares, equivalent to 2.76% of the bank's charter capital. Based on the current market price, the value of the shares Mr. Thuy is holding is about 670 billion VND.
Meanwhile, Mr. Nguyen Van Thuy is not on the list of shareholders of LPBank.
LPBank Board of Directors for the 2023-2028 term. Mr. Nguyen Duc Thuy (standing in the middle) and Mr. Nguyen Van Thuy (second from right). Photo: LPB.
In addition to the above couples, the banking industry has witnessed an uncle-niece couple at VietA Bank.
In 2021, Mr. Phuong Huu Viet left the position of Chairman of the Board of Directors of VietA Bank, and his nephew, Phuong Thanh Long, replaced Mr. Viet. However, although Mr. Viet left the position of Chairman of the Board of Directors, he remained a member of the Board of Directors of VietA Bank until the 2023 Shareholders' Meeting when he officially withdrew completely.
According to Vietnamnet
