Sacombank (STB) Replaces CEO Loic Faussier With Nguyen Thi Kieu Anh

Overview

Sacombank (ticker STB, HOSE) has replaced General Director Loic Faussier with Nguyen Thi Kieu Anh, the bank’s fourth chief executive change in just over a year. The Saigon Thuong Tin Commercial Joint Stock Bank said the senior personnel change is intended to accelerate completion of its restructuring plan (Đề án tái cơ cấu) and to keep the bank within regulatory safety ratios.

Key Facts

• Nguyen Thi Kieu Anh, born 1983, holds an MBA from the Banking Academy and has more than 20 years of finance and banking experience.
• She previously worked at VPBank and LPBank, holding roles including branch director, regional director, assistant to the board chairman and deputy general director.
• Loic Faussier steps down as general director but remains with Sacombank as a senior advisor to the board of directors (HĐQT).
• Faussier was appointed acting general director on 22 April 2026, the day of the annual general meeting, and became official general director on 10 July 2026; he stepped down after just over three months in the role.
• The preceding CEO, Nguyen Duc Thuy, was approved by the State Bank of Vietnam on 3 March 2026 and left the post on 22 April 2026 to become permanent deputy chairman of the board.
• Nguyen Thanh Nhung served as acting general director from 27 May 2025 until 23 December 2025.
• The announcement did not disclose the effective date of Kieu Anh’s appointment or any compensation terms.

What Happened

Sacombank announced the leadership change in a company statement, saying the board had appointed Nguyen Thi Kieu Anh as general director while Loic Faussier relinquished the post. The bank said Faussier will continue alongside Sacombank as a senior advisor to the board, a arrangement it described as preserving continuity and retaining his international banking experience.

The statement framed the reshuffle as a deliberate step to speed up the restructuring plan, optimise resources and comply with prudential safety ratios. It did not specify the exact date Kieu Anh took office or whether the State Bank of Vietnam has formally approved the appointment, a standard requirement for bank chief executives in Vietnam. The bank highlighted Kieu Anh’s management experience at VPBank and LPBank as the basis for her new role.

Market Context

STB closed at VND 66,000 on 2 November 2026, down 0.45% on volume of about 2.1 million shares. The stock trades on HOSE, where Sacombank is one of the larger listed banks by assets. The rapid CEO turnover comes as Vietnamese banks broadly work through legacy bad debt and cross-ownership issues, and as the sector awaits clearer guidance on credit growth quotas and Basel II/III adoption. Frequent leadership changes at a single institution can weigh on valuation multiples until a stable management team is established.

Strategic Significance

Sacombank’s restructuring plan has been the central investment thesis for STB for years, tied to resolving legacy assets and completing a long-delayed share issuance. A fourth CEO in barely a year signals that the board is still searching for the right executive to close out that process, and the appointment of a domestic banker with retail and regional management experience suggests a shift toward operational execution over international advisory input. Faussier’s retention as a board advisor softens the transition but does not remove the governance question of why the previous CEO lasted only three months.

What to Watch

• State Bank of Vietnam confirmation of Nguyen Thi Kieu Anh’s appointment as general director.
• Any disclosure on the timeline for completing the restructuring plan and the pending share issuance.
• Third-quarter 2026 earnings and any update on non-performing loan and provisioning trends.
• Board resolutions or filings detailing Faussier’s advisory mandate and remuneration.
• Further senior management changes, given the pattern of short CEO tenures.