Banks are simultaneously changing their senior management.

Never before have there been such a flurry of senior personnel changes at banks as during this year's annual general meeting (AGM) season.

At the General Shareholders' Meeting on the morning of April 19th, the HSBC representative withdrew from Techcombank's leadership board, replaced by Nguyen Doan Hung, former Vice Chairman of the State Securities Commission.

Meanwhile, at Saigon-Hanoi Bank (SHB), Mr. Do Quang Huy, currently working at T&T Group, was elected as an additional member of the Board of Directors for the 2012-2017 term. Along with nominating Mr. Huy, the Board of Directors proposed the removal of Ms. Dam Ngoc Bich and Mr. Pham Hong Thai from their positions as members of the Board of Directors. Prior to Mr. Huy's nomination as a member of the SHB Board of Directors, T&T Group had registered to purchase an additional 36.3 million SHB shares.

The wave of high-level personnel changes at banks continues as, at the Dong A Bank Annual General Meeting on April 26th, Mr. Pham Van Bu will step down as Chairman of Dong A Bank due to reaching retirement age and no longer representing the Ho Chi Minh City Party Committee's capital contribution in Dong A Bank. Previously, Mr. Dang Phuoc Dua, a member of the Board of Directors of Dong A Bank and representing the capital contribution of Rexco Technical Materials Import-Export Company in Dong A Bank, also resigned. Therefore, at the upcoming Annual General Meeting, Dong A Bank will have to elect two additional members to the Board of Directors to replace them.

Eximbank has also just announced that it is seeking shareholder approval to elect three additional members to its Board of Directors at the General Meeting of Shareholders scheduled for April 28th. The three candidates are Mr. Le Hung Dung, Mr. Pham Huu Phu, and Mr. Dang Phuoc Dua. Mr. Le Hung Dung, currently the Chairman of the Board of Directors of Eximbank, was nominated by four shareholders representing 10.4% of the shares. Mr. Pham Huu Phu was nominated by eight shareholders representing 11.3% of the voting shares. Mr. Dang Phuoc Dua was nominated by fifteen shareholders (including one legal entity) representing 10.6% of the shares. Both Mr. Phu and Mr. Dua are familiar faces. Mr. Phu recently left his position as Chairman of the Board of Directors of Sacombank, and Mr. Dua recently left his position as a member of the Board of Directors of Dong A Bank.

Recently, the General Meeting of Shareholders of Kien Long Bank approved the resignation of Mr. Tran Phat Minh from the Board of Directors and elected two additional members to the Board of Directors for the 2013-2017 term: Mr. Vo Van Chau and Ms. Nguyen Thuy Quynh Huong. Mr. Dang Minh Quan was also elected as a member of the Supervisory Board. Previously, on March 31st, Mr. Minh had submitted his resignation from the Board of Directors for personal reasons. Currently, Mr. Minh is a major individual shareholder in two banks: Kien Long Bank and Sacombank.

At the 2014 Annual General Meeting of NamA Bank, held at the end of March, the bank's shareholders also approved the resignation of the Chairwoman of the Board of Directors, Ms. Nguyen Thi Xuan Loan, Vice Chairwoman Huynh Thanh Chung, and Board Member Tran Anh Tuan. They were replaced by Mr. Nguyen Quoc Toan and Mr. Tran Ngo Phuc Vu.

Previously, a series of CEOs and Deputy CEOs of major banks also resigned "for personal reasons" or moved to new positions at other banks or other organizations. However, the most significant reason is the strong wave of mergers and acquisitions currently taking place in the banking industry. In recent times, after mergers and consolidations, key positions in the Board of Directors and the Executive Board of banks have been changed, with replacements coming from the organizations that invested in the banks.

According to VOV