Mr. Pham Phu Khoi takes office as Chairman of LPBS from September 26, 2024
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LPBS convened an extraordinary 2024 General Meeting of Shareholders on September 26, resulting in the election of Mr. Pham Phu Khoi as a member of the Board of Directors for the term 2023 – 2028. Immediately after the meeting, the Board of Directors met and voted to appoint Mr. Khoi as Chairman of the Board, effective September 26.
In contrast, the meeting approved the dismissal of Mr.
Currently, the LPBS Board consists of six members.
LPBS to Appoint New Chairman: A Strategic Move for Sustainable Growth and Market Competitiveness
According to LPBS’s website update on September 27, the addition of Mr. Khoi to the Board marks a significant step in strengthening the company’s leadership. It is also aligned with LPBS’s strategy for sustainable and efficient development.
As the new Chairman, Mr. Khoi is expected to play a pivotal role in implementing innovative financial solutions and diversifying the company’s securities portfolio. Additionally, he will focus on building and solidifying strategic partnerships to expand LPBS’s market share and enhance its competitive position in the Vietnamese and international securities markets.
Mr. Khoi currently serves as Chairman of the Board of Directors of Vietnam Investment Rating Joint Stock Company (VIS Rating). He also holds the position of Vice Chairman and instructor at the Vietnam Bond Market Association (VBMA). He is a member of the Board of Managers and legal representative of Sagittarican LLC. Mr. Khoi is also associated with the Vietnam Selected Stocks Fund (VFMVSF) and the Voluntary Supplementary Retirement Fund (Thinh An) under Dragon Capital.
Notably, on September 26, in addition to his appointment as Chairman of LPBS, Mr. Khoi was also selected as a Senior Advisor to the Executive Board of LPBank (listed on HOSE: LPB), which directly owns 5.5% of LPBS’s capital and is one of its four major shareholders as of June 30, 2024.
Prior to this, on September 23, the LPBank Board of Directors passed a resolution approving the comprehensive cooperation between LPBank and LPBS.
LPBank’s leadership poses for a photo with Mr. Pham Phu Khoi (center) during his appointment ceremony
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LPBS’s business performance for the first half of 2024 demonstrated positive growth, with operating revenue reaching nearly VND 31 billion, a 207% increase compared to the same period last year, and a net profit of over VND 13 billion, marking a significant 419% surge.
According to LPBS, the successful capital increase to VND 3,888 billion, along with the expansion of activities such as securities brokerage for listed securities, margin lending, pre-lending, and proprietary trading, contributed to the substantial revenue growth.
The increase in total expenses by 95% was attributed to the company’s business expansion, including hiring additional personnel, opening new branches, and investing in machinery, equipment, and software. However, LPBS’s net profit accelerated as the rate of expense growth was lower than that of revenue.
| LPBS’s Semi-Annual Profit Surges in 2024 |
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Mr. Pham Phu Khoi, born in 1963, holds a Master of Business Administration with a concentration in Finance from the Wharton School, University of Pennsylvania, USA. He also earned a Master of Economics in Aviation from the Riga Civil Aviation University in Latvia (formerly part of the Soviet Union). Additionally, Mr. Khoi completed the International Executive Program at INSEAD Business School in Fontainebleau, France. With over 37 years of experience in finance in Vietnam, Mr. Khoi’s career includes prominent positions such as Deputy General Director and Head of the Financial Markets Division at VPBank Asset Management Center, as well as Chairman of VPBank Securities (VPBS); General Director of ACB Securities (ACBS); Head of Merrill Lynch’s Singapore office; Head of Emerging Markets Credit Trading for Standard Chartered Bank in Singapore and Vietnam; Manager of Barclays Capital Asia’s corporate bond investment portfolio in Hong Kong; and Head of Northeast Asia for Vietnam Airlines Corporation (Vietnam Airlines)… |
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## LPBank Postpones Extraordinary General Meeting, A Range of Important Matters Awaiting Discussion
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The upcoming Extraordinary General Meeting of LPBank’s shareholders is scheduled for November 15, 2024. This pivotal gathering will be a significant milestone for the bank, setting the tone for its future trajectory and strategic direction. With a comprehensive agenda covering critical topics, the meeting promises to be a cornerstone event, shaping LPBank’s path ahead.
