Sacombank (STB) Appoints Foreign Acting CEO Loic Faussier, Reshuffles Leadership

Overview

Sacombank (STB) has announced a major leadership reshuffle, appointing Nguyen Duc Thuy as Permanent Vice Chairman of the Board of Directors and Loic Faussier as Acting CEO. The moves are designed to accelerate the bank’s restructuring, enhance corporate governance, and prepare for a new phase of sustainable growth. Faussier, a French national with over 27 years of experience in global finance, becomes the first foreigner to hold the top executive role at STB.

Key Facts

• Nguyen Duc Thuy, previously CEO, is appointed Permanent Vice Chairman of the Board of Directors, effective immediately after the shareholders’ meeting.
• Loic Faussier, a French national born in 1972, is appointed Acting CEO, responsible for day-to-day operations.
• Faussier holds master’s degrees in finance from Paris Dauphine University and in business law from Sciences Po Paris.
• He has 27+ years of experience at HSBC (Vietnam, Japan), VIB, SeABank, and LPBank.
• The appointments aim to accelerate STB’s restructuring plan and improve risk management and compliance.
• STB closed at VND 64 on April 15, 2026, down 2.57% with volume of 6.58 million shares.

What Happened

Sacombank (STB) held a board meeting immediately following its annual general shareholders’ meeting to approve key leadership changes. The board appointed Nguyen Duc Thuy, who had served as CEO, to the newly created role of Permanent Vice Chairman of the Board. In this capacity, Thuy will oversee strategic direction, high-level governance, and long-term development planning.

Simultaneously, the board appointed Loic Faussier as Acting CEO, entrusting him with the operational management of the bank. Faussier, a French national with extensive international banking experience, previously held senior roles at HSBC Vietnam, HSBC Japan, VIB, SeABank, and most recently as Senior Advisor to the Executive Board at LPBank. The bank stated that the appointment reflects its consistent strategy to attract top international talent, particularly in risk management and compliance.

Market Context

STB shares closed at VND 64 on April 15, 2026, down 2.57% on volume of 6.58 million shares. The stock has been under pressure amid the broader banking sector’s consolidation and ongoing restructuring efforts at Sacombank. The bank, listed on HOSE, has been executing a long-term restructuring plan approved by the State Bank of Vietnam, focusing on resolving legacy issues and improving operational efficiency.

Strategic Significance

The appointment of a foreign CEO marks a significant step in Sacombank’s efforts to internationalize its management and align with global best practices in risk governance. By moving Nguyen Duc Thuy to the board, the bank separates strategic oversight from day-to-day execution, a common corporate governance standard. Faussier’s deep experience in risk and compliance suggests a priority on strengthening the bank’s balance sheet and regulatory standing, which are critical for completing the restructuring plan and potentially attracting foreign investment.

What to Watch

• Q1 2026 earnings release for STB, expected in late April, to gauge initial impact of new leadership.
• Any updates on the bank’s restructuring milestones, particularly resolution of legacy bad debts.
• Potential changes in foreign ownership limits or strategic partnerships following the internationalization of management.
• STB’s stock price reaction and trading volume in the coming weeks as the market digests the leadership change.
• Regulatory approvals and any further board or management appointments in the next quarter.