The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) and Edmond de Rothschild recently signed a strategic cooperation agreement, with the two parties to cooperate to provide high-net-worth individuals in Vietnam with access to global-class financial services.

The strategic cooperation agreement lays the foundation for Edmond de Rothschild to help BIDV in training and enhancing its capabilities to deliver internationally-standardized private banking services, contributing significantly to the transformative changes in Vietnam’s banking and financial services sector. The cooperation between the two major brands aims to develop specialized investment products, and intelligent, efficient, and secure financial service solutions for high-net-worth clients in Vietnam.

At the signing ceremony, Mr. Phan Duc Tu, Chairman of the Board of Directors at BIDV, expressed the significance of the strategic cooperation agreement, which marks the initial presence of a leading global financial institution specializing in high-net-worth asset management in Vietnam’s financial market.

“Through this collaboration, BIDV Private Banking customers will have the opportunity to access specialized investment products, intelligent and secure financial service solutions, connect with the global elite, and experience the unique ecosystem of Edmond de Rothschild in Europe,” he said. “Customers will also be served by a team of professionally-trained Asset Management Directors following Swiss banking service standards.”

Ms. Ariane de Rothschild, CEO of the Edmond de Rothschild Group, shared her enthusiasm for the strategic cooperation with BIDV. She emphasized that this represents a shared vision to meet the needs of Vietnamese entrepreneurs. Expanding their presence in Vietnam is evidence of their pioneering approach and confidence in the remarkable growth and attractiveness of the Vietnamese market in Southeast Asia.

Mr. Christophe Caspar, Global CEO of Asset Management at the Edmond de Rothschild Group, added that the strategic cooperation with BIDV is a crucial step in Edmond de Rothschild’s development plan to access potential markets aligned with their global direction and unique positioning. “We are delighted to share our experience with BIDV and together achieve new milestones to become the number one private banking bank in Vietnam,” he said.

Previously, in April 2023, the two parties initiated cooperation with an MoU to elevate private banking services in Vietnam, marking a perfect addition to BIDV’s comprehensive banking service offerings for various customer segments and reinforcing its position as the leading bank with the best digital foundation in Vietnam. BIDV aims to become the top financial institution in Southeast Asia and one of the top 100 banks in Asia by 2030.