VietNamNet Bridge – While the Chief Executive Officer of the Asia Commercial Bank (ACB), Mr. Ly Xuan Hai, is busy to “cooperate for investigation” with police after Nguyen Duc Kien was arrested, Vice CEO Do Minh Toan will temporarily replace Hai.

Kien arrest stirs up the public, vibrates stock market

ACB's CEO Ly Xuan Hai.

ACB’s Vice CEO Nguyen Thanh Toai told VNExpress online newswire that the bank boards of directors has authorized Toan to run the bank when Hai is absent.

Toai said ACB officials could still contact with Hai but he did not know how long Hai would have to work with the police.

He also said that ACB was not informed of the contents of exchange between Hai and investigators.

ACB’s Vice CEO Do Minh Toan was born in 1971 in Phu Yen province. He got an MA of Business Administration at the Columbia Southern (USA). He is also a bachelor of law (HCM City University of Law), a bachelor of economics (HCM City University of Economics) and a bachelor of banking and finance (HCM City Banking University).

According to ACB, Toan has worked for over 14 years in the finance and banking sector and used to hold significant positions at ACB and the ACB Securities Company.

After Kien’s arrest, the central bank has given timely support to ACB so the bank’s liquidity is still good, Toai told VNexpress.

Compiled by Le Ha