Deutsche Bank Vietnam and Techcombank have appointed a Vietnamese and a foreigner respectively as their new CEOs.
The Vietnamese subsidiary of Deutsche Bank has appointed Huynh Buu Quang, former CEO of Maritime Bank (MSB), as its acting CEO. The German bank is awaiting approval from the State Bank of Vietnam to finalize the appointment.
Quang had served as the CEO of MSB, a private Vietnamese bank, for four years before moving up to its deputy chairman position earlier this year. He has 25 years of experience in the banking and financial sector and had held senior positions in HSBC earlier.
Deutsche Bank had earlier this year announced that it would increase investment in Vietnam to boost the E.U.-Vietnam trade as the EU-Vietnam Free Trade Agreement took effect starting this month.
Techcombank, meanwhile, has appointed German Jens Lottner as is new CEO starting Tuesday, replacing Nguyen Le Quoc Anh, who had served in the position for five years.
Lottner has 28 years of experience in the financial world and has served in companies like McKinsey and Boston Consulting Group. His last position was the chief financial officer of Thailand’s Siam Commercial Bank.
Techcombank posted pre-tax profits of VND6.7 trillion ($290 million) in the first six months of the year, up 19 percent year-on-year, second behind state-owned lender Vietcombank.
The article was originally published in Vnexpress