HDBank elects Korean banker as new chairman

Wednesday, May 04, 2022 11:06

Kim Byoungho, new chairman of HDBank. — Photo courtesy of the bank

HDBank has announced a resolution by its Board of Directors to elect Kim Byoungho, an independent member, as chairman with effect from April 29 with a plan to help take the bank into a new stage of development and stronger integration.

The appointment of Kim, who used to be chairman and CEO, the highest managerial positions at Hana Bank and Hana Financial Group, as chairman of HDBank’s BOD shows its desire to bring international vision and best standards into its governance, transforming it in its new development stage and enabling international integration.

The veteran Korean banker is expected to direct the acceleration of HDBank's strategic programmes, expansion of international cooperation and realisation of its targets of high and sustainable growth both in scale and quality.

Kim said, “It is my great honour and excitement to have this valuable opportunity to participate in the development of HDBank and Vietnamese banking industry as the new chairman of the bank.“

“I hope that my experience and expertise in the financial market would contribute to the diversity and open culture of the bank and help enhance its agility and resistance amid the rapid transformation revolution, and become the best bank.”

Kim, 61, has over 30 years of experience in the financial and banking industry.

He used to be CFO and CEO of Hana Bank (the second largest lender in Korea) and vice chairman of Hana Financial Group.

During his three-decade tenure at Hana, he led the bank's robust expansion and transformation to become one of the largest in Korea and with an international reputation.

At Hana Financial Group, he was the one who led the merger between Hana Bank and Seoul Bank in 2002 and the acquisition of Korea Exchange Bank from the US private equity firm Lone Star in 2015, thus raising Hana Bank’s total assets to over US$240 billion and making it Korea's No. 1 bank in terms of international market presence with 137 branches in 24 countries.

The new chairman of HDBank has strong understanding of the Vietnamese market as he led the negotiation process for Hana Bank’s acquisition of a 15 per cent stake worth nearly $1 billion in the Joint Stock Commercial Bank for Investment Development of Vietnam (BIDV) in 2019 as a strategic shareholder, contributing to the reform of one of the largest State-owned banks in Viet Nam.

After leaving Hana in 2019, he was invited by many reputable financial institutions to serve as an advisor and is currently an independent member of the board of directors of SK Inc., one of the largest corporations in Korea.

In addition to Kim, the HDBank's board for the 2022-27 term also has Le Manh Dung, an independent member with more than 25 years of experience in the banking and finance sector.

He works at DEG, an investment arm of German state-owned development bank KFW, which recently invested in HDBank's international privately issued bonds.

The remaining five members of the board are all experienced and reputed leaders in the banking and financial industry. The bank also established an advisory board headed by former chairwoman Le Thi Bang Tam.

The results of the election of the board with the new chairman being an independent foreign board member coming from major international institutions promise to bring HDBank into a new growth phase as envisaged in its strategy of integration and development of both scale and quality of business. — VNS

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