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The increasing presence of international executives on the boards and management teams of Vietnamese banks reflects a shift in the industry’s development mindset—from pursuing scale to prioritizing governance quality. The appointments also aim to combine global vision with an understanding of local identity to strengthen Vietnam’s standing in the international financial arena.
Several banks have appointed foreign executives to top positions and key governance roles. OCB, for example, appointed Chris Shayan as Acting CEO from June 1, 2026. The bank said it expects the appointment of an AI and technology expert to accelerate digital transformation, improve risk governance, and enhance customer experience, with a focus on data platforms and digital infrastructure.
OCB’s board also includes two Japanese members, Yoshizawa Toshiki and Segawa Mitsuhiro, who represent 15% of the bank’s capital from Aozora Bank.
The trend has also appeared at major institutions. Techcombank appointed Jens Lottner as CEO in 2020, with a second appointment scheduled for 2025-2030. Its leadership team includes foreign directors Saurabh Narayan Agarwal and Eugene Keith Gilbraith, and CFO Alexandre Charles Emmanuel Macaire.
At HDBank, Kim Byoungho was appointed Chairman in 2022 to bring international governance standards. At ABBank, Syed Ahmad Taufik Albar serves as a board member representing strategic shareholder Malayan Banking Berhad.
The recruitment of international expertise is not limited to private banks. BIDV has Kim Sang Soo on its board and Ham Jin Sik on the executive team, representing strategic partner KEB Hana Bank. VietinBank’s governance structure includes Japanese shareholder representatives from MUFG Bank, including Koji Iriguchi and Takeo Shimotsu. Vietcombank has maintained a Japanese board member, Kohei Matsuoka from Mizuho Bank, to support governance.
Nguyen Quang Huy, CEO of the Financial Department at Vietnam Banking University, said Vietnam’s high openness makes these movements normal as capital, technology, knowledge, and high-caliber human resources flow more easily into the market.
He noted that the change is not simply foreign shareholders imposing Western models. Instead, it reflects a shift by major shareholders that own Vietnamese banks—from expanding assets to improving governance quality, strengthening innovation capability, and building long-term competitiveness.
Mr. Huy emphasized that foreign appointments do not mean copying external models. Each country has its own culture, consumer behavior, and legal system, so the path forward should be a fusion of global thinking with a deep understanding of Vietnam’s identity.
The roles assigned to international leaders—digital transformation, data analytics, risk governance, and sustainable finance—align with sector priorities. Mr. Huy said markets abroad have advanced these areas by about 1-2 decades compared with Vietnam.
Mr. Huy said attracting specialists who built advanced models can shorten learning time, reduce trial costs, and accelerate transformation. He added that this is not a replacement of local talent, but an opportunity for Vietnamese professionals to learn directly and upgrade capabilities. Over the long run, he said the main value is raising the technical proficiency of domestic human resources to international standards.
From a macro perspective, international personnel may also support Vietnam’s stock market upgrade efforts. Global funds evaluate governance transparency, risk controls, minority shareholder protections, and accountability—not only profits. International staff are expected to push banks to raise governance standards to meet the highest market expectations, though Mr. Huy said high-quality capital ultimately depends on genuine internal changes within each bank.
Looking ahead 3-5 years, Mr. Nguyen Quang Huy expects the trend to continue but evolve into a deeper form—moving from integration to co-creation. The focus, he said, will shift from the number of foreign CEOs to building leadership models that blend Vietnamese and international leaders, share knowledge, and create value.
He described this as a two-way integration: as Vietnam’s economy strengthens and banks improve governance and human capital quality, the goal could extend beyond current international standards, with Vietnam contributing to setting new regional standards in areas where it has strengths.
Overall, the convergence of international talent is presented as a knowledge and aspiration-driven process—aimed at building modern, transparent, and safe financial institutions with global competitiveness, while developing a Vietnamese workforce to international standards.
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