Former HSBC, Citibank exec joins Vietnam’s LPBank as senior advisor

Hanoi-based LPBank has appointed French national Loic Faussier, former executive of HSBC and Citibank, as a senior advisor to its executive board.

The appointment is part of the bank’s plan to enhance corporate governance and build up its senior personnel, the bank said in a statement on Monday.

In his role, Faussier is expected to advise the bank on corporate governance, risk management, credit approval, and debt recovery, and propose strategic initiatives.

Faussier, 52, holds two master’s degrees in finance and business law. He has held executive positions in financial institutions and major banks in France, Hong Kong, Japan, and Vietnam. Among them, he was director of risk management at HSBC Vietnam, and deputy director at HSBC Japan.

He was deputy general director at Vietnam International Bank (VIB), and CEO of SeABank, both headquartered in Hanoi. Faussier used to work for the French embassy in Beijing and Citibank in Paris.

LPBank last month had its name changed from Lien Viet Post Joint Stock Commercial Bank to Loc Phat Vietnam Joint Stock Commercial Bank.

The bank has a charter capital of VND25,576 billion ($1.02 billion), with state-owned VNPost Express JSC holding a 6.54% stake. Its chairman Nguyen Duc Thuy owns 2.76%.

Shares of LPBank, listed on the Ho Chi Minh Stock Exchange under ticker LPB, closed up 2.77% at VND27,850 ($1.11) apiece on Tuesday.