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BIDV, Fairfax Financial name directors to BIDV's insurance arm

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BIDV, Fairfax Financial name directors to BIDV's insurance arm

Bank forInvestment & Development of Vietnam Insurance Joint StockCorp., or BIC, said March 30 that , or BIDV, and nominated directors to the insurer's board of directors and board ofsupervisors.

Fairfax Financial, a strategic investor that owns a 35% stake in BIC,nominated Ramaswamy Athappan, chairman of Fairfax Asia Ltd., as vice chairman,and Gobinath Athappan, deputy chairman of Fairfax Asia, as a director at theinsurance arm. Fairfax also nominated Zainul Abidin Rasheed and Osith Ramanathanas members of BIC's board of supervisors.

Meanwhile, BIDV nominated Pham Thi Van Khanh, director ofthe bank's customer division for small and medium-sized enterprises, as adirector at BIC who will replace Nguyen Thi Quynh Giao.

BIDV said its shareholders authorized the board to considerand decide moving BIC's headquarters to Ho Chi Minh City.