VNDirect Securities appoints first new chairman in 17 years

VNDirect Securities Corporation has appointed a new chairman after former chairwoman Pham Minh Huong became the firm’s CEO and legal representative.

The firm, listed on the Ho Chi Minh Stock Exchange as VND, announced Nguyen Vu Long, who resigned from the position of acting general director, as its new chairman from Tuesday.

Long, born 1987, graduated with a master's degree from the University of New South Wales, majoring in economics and has more than nine years of experience in the field of investment and finance.

He has been with VNDirect for more than seven years and has held many important positions in the company, including head of currency, director of finance, and acting CEO.

VNDirect said the change would improve the legal conditions for the company's operations. VNDirect now has three legal representatives including Nguyen Vu Long, Pham Minh Huong and Vu Nam Huong, its finance director.

This was the first time VNDirect changed its chairperson. Huong, born in 1966, with a master's degree in information systems, has been chairwoman of VNDirect's board of directors since the firm’s establishment in 2006.

According to the company's governance report, Huong personally holds VND35.92 million shares or 2.95% of VNDirect's charter capital.

She is also a board member of I.P.A Investment Group Joint Stock Company, chairwoman of H&H Investment Management Company Limited, and chairwoman of HomeFood Joint Stock Company.

In the first quarter of 2023, VNDirect Securities reported a profit after tax of VND140 billion ($6.08 million), down 82% over the same period last year. The firm’s assets by the end of March 2023 reached more than VND37 trillion ($1.6 billion).