Leadership

Board of Directors
Dr. Marc FaberChairman
Peter R. RyderDirector
Raymond BurghardtDirector
Michael W. MichalakDirector
Thuy Bich LeDirector
Michael Paul PiroDirector
Harukazu YamaguchiDirector
Executive Committee
Peter R. RyderChief Executive Officer
Michael Paul PiroChief Operating Officer
Hoa TruongChief Financial Officer
Tuan BuiDirector, Finance and Investment
Diep NguyenDirector, Equities

Dr. Marc Faber

Chairman

A well-known economist, author, and investment advisor, Dr. Faber is noted for his contrarian investment approach. He is associated with a large number of funds and financial institutions around the world, including the Iconoclastic International Fund, Baring Chrysalis Fund, Overlook Partner’s Fund, and the Income Partners Global Strategy Fund. Dr. Faber publishes a widely read monthly newsletter – The Gloom Boom & Doom Report. Additionally, he is the author of several books, including Tomorrow’s Gold which was a 2002 bestseller. He has been a member of the board and Indochina Capital’s Chairman since 2005.

Peter R. Ryder

Director

Peter arrived in Vietnam in January 1992. Prior to founding Indochina Capital, Peter was a partner from 1992-1998 in two New York-based investment companies, active in investing in Vietnam across various sectors, including real estate, construction, IT, consumer services and products, banking, and education. Earlier, from 1983-1992, Peter was a Director at Salomon Brothers in their real estate finance group. As Director of the Asia-Pacific region in Tokyo (1987-1990), he was responsible for US$3 billion of investment in office, retail, residential and hotel projects. Peter is a former Chairman of the Hanoi Chapter of the American Chamber of Commerce and played a key role in the conclusion of the 1991 US-Vietnam Trade Agreement. He received a Masters of Arts degree in Anthropology from the University of Pennsylvania in 1983 and a Bachelor of Arts degree in Anthropology from Beloit College in 1977.

Raymond Burghardt

Director

Ambassador Burghardt joined Indochina Capital’s board of directors in 2005. From 2001-2004, he served as U.S. Ambassador to Vietnam. Ambassador Burghardt is also the Director of East-West Seminars at the East-West Center, and he was formerly the Director of the American Institute in Taiwan. Previously, he served in diplomatic posts in China, the Philippines, and South Korea. Ambassador Burghardt’s former diplomatic assignments also include the role of Special Assistant to President Reagan and Senior Director of Latin American Affairs on the National Security Council staff.

Michael W. Michalak

Director

Michael W. Michalak joined Indochina Capital’s board in 2012. He is a career Foreign Service Officer with extensive knowledge and experience in Asia, served as the U.S. Ambassador to Vietnam between August 2007 and February 2011. Prior to his position in Vietnam, Ambassador Michalak served as the U.S. Senior Official to APEC, Bureau of East Asia Pacific Affairs. He holds a B.A. and M.A. in Physics from Oakland University in Rochester, Michigan, and Catholic University of America in Washington, D.C., respectively. He received a second Master’s degree in Public Administration from the John F. Kennedy School of Government at Harvard University. He speaks fluent Japanese.

Thuy Bich Le

Director

Ms. Le Thi Bich Thuy is the founder and CEO of Bich Thuy & Company Ltd. (BTC), a company she established in 1996. BTC is the exclusive distributor of various high end cosmetics and professional hair and skin care products from Italy and France, including Rolland and Gernétic and retailer of Estée Lauder Companies in Hanoi, HCM City and Haiphong. BTC also owns flagship cosmetic stores and hair – beauty spas in Hanoi and HCM City. At the same time, Thuy was also on the Board of Directors/Supervisors of VPBank (1998 – 2003), WACO (Water & Environmental Corporation 2002-2007); additionally, she was the Vice Chairperson (Board of Directors) of Dai A Bank (2004-2009) and is currently the Vice Chairperson of Daiviet Security Company (from 2005-present). In 2003, she was awarded with a Certificate of Appreciation by the US Department of Commerce for her contributions to the development of US trade in Vietnam when the Director of the US Foreign Commercial Department visited. She holds degrees from the University of Foreign Studies and Foreign Trade University of Vietnam. Thuy has and continues to play a key role as Indochina Capital’s senior government relationship manager and has been active in all of the company’s major initiatives and projects.

Michael Paul Piro

Director

Michael Piro is a well-rounded real estate professional, who brings 10 years of property sales, marketing and development experience in both North America and Asia to his role as Indochina Capital’s COO. Michael has directly overseen the sale and leasing of over US$260 million worth of high-end Vietnamese properties, while also being actively involved in the planning and development of nearly US$1 billion worth of high-end real estate development in Vietnam for ICC. Mr. Piro is an Executive Committee Member of the Canadian Chamber of Commerce, where he focuses on working with the relevant state bodies to endorse reforms as it relates to foreign real estate investment in Vietnam. Michael holds an Urban Land Economics degree from the University of British Columbia and a Technology in Commercial Real Estate degree from the British Columbia Institute of Technology. He became a board member in 2016.

Harukazu Yamaguchi

Director

Mr. Yamaguchi is the Executive Officer and Deputy Head of Global Business Headquarters of ORIX Corporation, overseeing general operations, new businesses, and real estate businesses of ORIX Corporation group companies in Southeast Asia and Australia. Mr. Yamaguchi has extensive knowledge and over 20 years of experience in global business, with a particular focus on various types of investment. He has served as ORIX’s representative on the Indochina Capital board in 2011 to 2012 and again since 2016.

Peter R. Ryder

Chief Executive Officer

Peter arrived in Vietnam in January 1992. Prior to founding Indochina Capital, Peter was a partner from 1992-1998 in two New York-based investment companies, active in investing in Vietnam across various sectors, including real estate, construction, IT, consumer services and products, banking, and education. Earlier, from 1983-1992, Peter was a Director at Salomon Brothers in their real estate finance group. As Director of the Asia-Pacific region in Tokyo (1987-1990), he was responsible for US$3 billion of investment in office, retail, residential and hotel projects. Peter is a former Chairman of the Hanoi Chapter of the American Chamber of Commerce and played a key role in the conclusion of the 1991 US-Vietnam Trade Agreement. He received a Masters of Arts degree in Anthropology from the University of Pennsylvania in 1983 and a Bachelor of Arts degree in Anthropology from Beloit College in 1977.

Michael Paul Piro

Chief Operating Officer

Michael Piro is a well-rounded real estate professional, who brings 10 years of property sales, marketing and development experience in both North America and Asia to his role as Indochina Capital’s COO. Michael has directly overseen the sale and leasing of over US$260 million worth of high-end Vietnamese properties, while also being actively involved in the planning and development of nearly US$1 billion worth of high-end real estate development in Vietnam for ICC. Mr. Piro is an Executive Committee Member of the Canadian Chamber of Commerce, where he focuses on working with the relevant state bodies to endorse reforms as it relates to foreign real estate investment in Vietnam. Michael holds an Urban Land Economics degree from the University of British Columbia and a Technology in Commercial Real Estate degree from the British Columbia Institute of Technology. He became a board member in 2016.

Hoa Truong

Chief Financial Officer

Hoa Truong joined Indochina Capital in January 2007, and is now a director and member of the Executive Committee. Hoa is a seasoned accounting professional, and as Chief Financial Officer, she oversees the company’s accounting and financial reporting. Besides providing the team with her expertise in accounting, financial reporting, taxation and M&A due diligence, Hoa is also responsible for the company’s Human Resources and Administration activities. She is responsible for ensuring that the company diligently complies with current local and international tax regulations and for spearheading all internal and external auditing activities. She regularly interacts with investors regarding questions about the company’s financials. Hoa has a Bachelor’s degree in Accounting from Cal Poly Pomona, and an MBA from the University of Hawaii. She also is a Certified Public Accountant in Australia.

Tuan Bui

Director, Finance and Investment

Tuan joined Indochina Capital in 2007, specializing in real estate finance and is responsible for raising a total credit commitment of $200 million for ICC’s projects. In addition, he jointly spearheads ICC’s provision of feasibility studies, financial planning, operator selection and development advisory services to its clients. In 2016, he became the General Director of ICC-Kajima, the joint venture between Indochina Capital and Kajima Corporation, which focuses on investing and developing a chain of urban business hotels, boutique serviced apartment and residential properties in the major cities of Vietnam. Previously, Tuan worked for four years at Ernst & Young Vietnam, acting as a senior auditor in statutory and group audit engagements with a wide range of companies and industries. His experience also extends to corporate diagnostic review and full-scope accounting service projects. Tuan graduated from the Foreign Trade University, Hanoi and obtained an M.B.A. from Ritsumeikan Asia Pacific University, Japan. He is also a member of the Association of Charter Certified Accountants (UK).

Diep Nguyen

Director, Equities

Diep is the Portfolio Manager of the Equities Division at ICC. She joined the company in 2007 as an equities analyst. Besides managing investments in listed securities, she was also in charge of monitoring and liquidating private equity investments in the LSE listed fund, Indochina Capital Vietnam Holding Limited during 2008 and 2009. Prior to working at Indochina Capital, Diep was an Audit Assistant Manager at KPMG where she managed audit engagements under the Vietnamese Accounting Standards and International Financial and Reporting Standards for multi-national clients. She has a B.A. in Accounting from HCMC University of Economics. Diep is an ACCA member and a CFA charter holder

Our management team includes some of the most distinguished professionals in the industry, ensuring that we deliver superior value to our stakeholders.