This is the first strategic partnership between the longest-established and largest financial institution by assets in Vietnam and a leading conviction-driven investment house with a long-standing operation in Europe and multinational presence in banking, wealth management and development.

Representatives of BIDV and Edmond de Rothschild sign agreement

The strategic partnership has laid a solid foundation for Edmond de Rothschild to support BIDV in training and improving capacity to offer private banking services following international standards. It is a key driver for promoting robust transformation in banking and financial services in Vietnam. At the same time, the cooperation of the two major brands helps develop specialized investment products and smart, effective and safe service solutions for Vietnamese private banking customers.

Mr. Phan Duc Tu – Chairman of the Board of Directors of BIDV said:

As a developing country, Vietnam is featured by a dynamic economy and rising affluent year after year. Recent trends in consumption, investment and assets are posing a huge demand for personal financial services. Through the strategic partnership with Edmond de Rothschild, for the first time, Vietnam’s financial market welcomes the presence of a global leader in wealth management for private banking customers. This cooperation opens a promising opportunity for BIDV’s private banking customers to access specialized investment products, to connect with global elites and to experience Edmond de Rothschild’s unique ecosystem in Europe. Customers are also served by a team of professional and dedicated wealth managers, who are well-trained under the quintessential and high standards of Swiss banking services.

Ms. Ariane de Rothschild - CEO of Edmond de Rothschild Group shared:

I am enthusiastic about this strategic partnership with BIDV. It represents a shared vision to cater the needs of Vietnamese entrepreneurs. Expanding our presence in this country is proof of our pioneering approach and our conviction of the spectacular development and attractiveness of Vietnam. This country represents a clear opportunity for us to widen our horizons by combining our expertise with BIDV’s excellent track-record and presence in the area.

Christophe Caspar, Global CEO, Asset Management, Edmond de Rothschild, emphasized:

This strategic partnership with BIDV, an industry leader in Vietnam, is a significant step in Edmond de Rothschild’s growth plan to access high potential markets that are in line with our global market approach and unique positioning. Relying on 250 years of entrepreneurial history of the Rothschild’s family in banking and finance, we are excited to share our expertise with BIDV and help them reach new milestones to become the number one private bank in the country.

The partnership started in April 2023 with a memorandum of understanding to raise Private Banking standards in Vietnam. This is considered a perfect piece in the chain of comprehensive banking products and services for customer segments at BIDV, affirming BIDV’s position as the bank with the leading digital platform in Vietnam, aiming to become a leading financial institution in Southeast Asia and Top 100 largest banks in Asia by 2030.