8 top executives of Vietnam securities companies step down in 6 weeks

The Hochiminh Stock Exchange’s announcements showed that as many as 8 Deputy CEOs and CEOs of branch managers of 8 securities companies have stepped down in the past 6 weeks.

Bui Lan Anh, deputy CEO of Trang An Securities company ended her working contract with the company from Nov 11, 2011 under her personal request.

Cao Thi Hong, deputy CEO of Vietnam International Securities company was approved to resign on the same day.

Nguyen Ngoc Tuoi, deputy CEO of Orient Securities Corporation left office from September 30, 2011 on personal request.

Vu Quoc Khanh, deputy CEO of Wall Street Securities company was dismissed from October 11, 2011.

Nguyen Huu Long, deputy CEO cum manager of Hanoi branch of An Thanh Securities company quit his position from October 13, 2011.

Pham Duc Thang, CEO of Kenanga VN Securities company was sacked from October 17, 2011.

Ha Thi Thanh Chau, deputy CEO of Maritime Bank securities company was dismissed from October 15, 2011.

Ngo Duc Trung quit his position as manager of Thanh Hoa branch of PetroVietnam Securities Incorporated (PSI) from October 25, 2011.

Staff turnover, even for top executives, is normal especially in the market downtrend, but the above mentioned frequency and popularity, investors could not help questioning the possibility of “leaving the responsibility behind” with huge bad debts and loss making investment portfolios, analyst with Vietnam News Agency raised concerns.

Source Crimson, StoxPlus

Tags: vietnam stock, Vietnam stock market, VNindex