Sacombank (STB) Names Chairman Duong Cong Minh Legal Representative, Kieu Anh Acting CEO

Overview

Sacombank (STB), listed on HOSE, disclosed a senior leadership reshuffle under three board resolutions dated 2/11/2026: Chairman Duong Cong Minh added the legal representative role, and Deputy CEO Nguyen Thi Kieu Anh became acting CEO. The change follows the exit of CEO Loic Faussier, who held the post for roughly four months and now serves as senior board advisor.

Key Facts

• Three board resolutions were issued on the same date, 2/11/2026, covering the leadership changes.
• Duong Cong Minh, Chairman of the Board, became the bank’s legal representative effective 2/11/2026.
• Loic Faussier (born 1972, France) stepped down as CEO and was appointed senior advisor to the board, also effective 2/11/2026.
• Nguyen Thi Kieu Anh, previously Deputy CEO, was named acting CEO (Quyền Tổng giám đốc) from the same date.
• Faussier joined Sacombank on 27/3/2026 as Deputy CEO for risk management, legal and compliance; he became acting CEO on 22/4 and official CEO from 10/7/2026 after State Bank of Vietnam approval.
• Kieu Anh joined Sacombank as Deputy CEO in late 2025 and has served as corporate governance officer and authorized disclosure representative since March 2026.
• Under Sacombank’s charter, the legal representative is either the chairman or the CEO, which the board selects for each period.

What Happened

Sacombank published the changes through board resolutions dated 2/11/2026. The board agreed to make Chairman Duong Cong Minh the bank’s legal representative from that date. Separately, Loic Faussier ceased to be CEO and was appointed senior advisor to the board, a role the filing does not describe in detail.

To avoid disruption to day-to-day operations, the board appointed Nguyen Thi Kieu Anh, a Deputy CEO, as acting CEO from the same date. The bank noted that its charter allows a single legal representative, either the chairman or the CEO, and that the board decides which title carries that authority in each period. The arrangement of a chairman as legal representative alongside an acting CEO is therefore consistent with the charter. The disclosure does not state the reason for Faussier’s move or the terms of his advisory role.

Market Context

STB closed at VND 66 on 2/11/2026, down 1.06% on volume of about 2.39 million shares, a modest move that suggests the market did not treat the announcement as a major shock. Sacombank trades on HOSE and is one of the larger private joint-stock banks by assets, with a restructuring history that has kept governance and leadership turnover in focus for investors. The bank has now changed its top executive twice within roughly seven months, from the acting appointment in April to the formal CEO role in July and now to an acting CEO again.

Strategic Significance

The key structural point is the separation of legal authority from executive management. By vesting the legal representative role in the chairman while the CEO seat is only acting, Sacombank keeps signing authority with Duong Cong Minh during a transitional period, which can speed decision-making but also concentrates formal power at the board level. For long-term holders, the durability of the arrangement depends on whether Kieu Anh is confirmed as permanent CEO with State Bank approval, and on whether Faussier’s advisory role retains any influence over risk and compliance strategy he was hired to strengthen.

What to Watch

• State Bank of Vietnam approval, or its absence, of a permanent CEO appointment for Nguyen Thi Kieu Anh.
• Any further board resolutions clarifying Faussier’s advisory mandate or the duration of the acting CEO arrangement.
• Sacombank’s next quarterly earnings disclosure for signs of continuity in credit growth and provisioning.
• Regulatory filings on the legal representative registration with the national business registration portal.
• Commentary at the 2027 annual general meeting on leadership stability and the bank’s restructuring roadmap.