Here, the second generation (F2) is no longer just “heirs” but has begun to directly participate in power structures, from share ownership to executive management. A quiet yet profound transition is underway.

Beyond inheriting shares, many F2 figures now hold key positions in governance, even taking on roles such as chairman or executive leadership. This means they are not merely “inheriting assets” but also bearing responsibility for operating financial systems worth hundreds of trillions of dong.

This is no longer a formal transfer story but a true handover of power, accompanied by pressure and systemic risks.

One typical example is Tran Hung Huy, Chair of ACB. Born to a banking family, he is the son of Tran Mong Hung, who laid the foundation for ACB since the early years of the joint-stock commercial banking system in Vietnam. However, Huy's takeover process did not take place in a favorable context.

After the incidents in 2012, ACB entered a period of deep restructuring. The withdrawal of the founding generation was seen as a necessary step to stabilize the system, and it was also the time when F2 had to step forward.

Rather than remaining in the shadow of his family, Tran Hung Huy directly engaged in management, gradually restoring operations and rebuilding market trust. By the end of 2025, he held more than 176 million ACB shares (about 3.43 percent), while his mother, Dang Thu Thuy, owned 1.94 percent.

The ACB case illustrates a clear model: F2 must not only inherit but also pass the “harsh test” of the financial market. While ACB represents a model where F2 takes direct control, other banks show different approaches.

At VPBank (VPB), the family of chair Ngo Chi Dung has begun to appear in the ownership structure. His son, Ngo Chi Trung Johnny, drew attention after purchasing 70 million VPB shares in late 2023, while his daughter, Ngo Minh Phuong, held 10.8 million shares by the end of 2025.

However, F2 at VPBank has not yet joined the board of directors or executive management. The bank maintains a highly professional governance model with experienced financial leaders.

This reflects a different strategy: placing F2 into the ownership structure first, but not rushing to grant executive power.

Meanwhile, at TPBank (TPB), the family imprint is more clearly visible. Associated with Do Minh Phu, this bank has the participation of many family members in the shareholder structure, from children to relatives and related businesses like DOJI Group.

Phu's two children, Do Minh Duc and Do Vu Phuong Anh, each owned 1.11 percent of TPB shares (30.9 million shares) by the end of 2025, while his younger brother Do Minh Tu held 3.71 percent. The related company, DOJI Gold & Gems Group JSC, held nearly 165 million TPB shares, equivalent to 5.93 percent.

In this case, F2 does not yet need to hold the highest executive position but has "planted a flag" in the ownership structure, a move showing long-term preparation for power.

Another model is seen at Techcombank (TCB). The two children of Chairman Ho Hung Anh - Ho Thuy Anh and Ho Anh Minh - each own nearly 4.9 percent of the charter capital, with asset values reaching tens of trillions of VND.

However, executive power at the bank has not yet shown signs of transfer. This shows a different approach: transferring assets first, power later.

In contrast, SHB and SeABank are cases where F2 has participated directly in the management apparatus. At SHB, Do Quang Vinh not only holds shares but also assumes the roles of Vice Chairman and Deputy General Director of SHB, while at SeABank (SSB), Le Thu Thuy is one of the key personnel associated with the founding family.

It is no coincidence that the banking industry has become a "hot spot" for the generational transfer process. This is a field subject to close supervision, with high requirements for risk management and financial transparency. Mere experience is no longer enough; instead, there are international standards such as Basel II and Basel III.

Banking is also increasingly taking on the appearance of a technology industry. The development of digital banking, fintech, and artificial intelligence requires a new mindset, something the F2 generation, with international educational backgrounds, often has an advantage.

Manh Ha