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14 May 2019
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2 minutes

TMF Group acquires NVM Group’s payroll portfolio in Vietnam

Ho Chi Ming city

 TMF Group, a leading provider of high value business services to clients operating and investing globally, has completed the acquisition of NVM Group’s payroll portfolio in Vietnam. NVM Group is an award-winning HR and Payroll firm in Vietnam.

NVM Group was set up in 2003 to provide tailored HR administration and payroll services to small and medium sized companies in Vietnam. The team of 12 professionals specializing in HR and Payroll has earned a reputation for excellent service delivery in the local market.

As a professional business service provider, TMF Group has a global footprint to help clients in cross border business expansion. This acquisition marks an exciting milestone for our HR business and our expansion of business to other countries in the region. NVM Group’s expertise in HR and Payroll further enhances TMF Group’s offer in the sector where TMF Group has significant experience, which will help us continue to grow and better serve our customers in Vietnam.

Huynh Minh Quan, President and CEO of NVM Group

Vietnam is one of the fastest growing HR and Payroll markets in South East Asia. With the acquisition of NVM’s payroll portfolio, TMF Group is now one of the largest payroll service providers in Vietnam. NVM Group is highly complementary to TMF Group’s existing operations in Vietnam. NVM Group will enhance TMF Group’s ability to serve Vietnam based SMEs, and their clients will also benefit from the broader accounting, payroll and tax compliance expertise of TMF Group.

Paolo Tavolato, Head of Asia Pacific at TMF Group


About TMF Group

TMF Group is a leading provider of critical administrative services, helping clients invest and operate safely around the world. Our 11,000 experts and 125+ offices in 87 jurisdictions worldwide serve corporates, financial institutions, asset managers, private clients and family offices, providing the combination of accounting, tax, payroll, fund administration, compliance and entity management services essential to global business success.

We work with 60% of the Fortune Global 500 and FTSE 100, and almost half the top 300 private equity firms, covering sectors as diverse as capital markets, private equity, real estate, pharmaceuticals, energy and technology.

TMF Group – we make a complex world simple.

About NVM Group

NVM Group is the top and award-winning HR management service and solution provider based in Vietnam established in 2003. It manages approximately USD500,000 a year for a niche customer base operating in Vietnam. NVM Group enables its customers to achieve their business strategy and takes away part of the intensive workforce management demands and transactions which include payroll, leave, time and attendance, employee reimbursements and maintenance of HR and Payroll systems.


Media Contacts

TMF Group:
Antoni van Huissteden, Chief Marketing Officer 
T: +31 6 15 82 10 03