Board of Directors

SDG 8

Mustafa Saydam
Mustafa SAYDAM
Chairman of the Board

Born in Ağrı in 1966, Mustafa SAYDAM graduated from Gazi University, Faculty of Economics and Administrative Sciences, Department of Business Administration in 1990. He started his career at VakıfBank in 1993 as Assistant Auditor. After serving as an Auditor from 1996 to 1999, he served as an Assistant Manager and Manager in various branches and units. He served at the Human Resources Department of VakıfBank between 2005 and 2010 and as the Chairman of the Audit Board between 2010 and 2013. In October 2013, Saydam was appointed as the Executive Vice President of VakıfBank and held this position until January 2019. Served as the Executive Vice President at Vakıf Emeklilik and Board Member at Vakıf Pazarlama, Mr. SAYDAM was elected as a Board Member on March 26, 2021, at He was elected as a Board Member at the 67th Ordinary General Assembly Meeting and continues to serve as the Chairman of the Board of Directors. Mustafa SAYDAM, married with two children, speaks English.

Dr. Cemil Ragıp ERTEM
Dr. Cemil Ragıp ERTEM
Deputy Chairman

Graduated from Faculty of Economy of Dokuz Eylül University, Dr. ERTEM has received his master’s degree and Ph.D. in finance and economics from Istanbul University, Faculty of Economics. He was a lecturer at Istanbul University and THK University on knowledge economy, economy-politics, alternative growth and money theory. Dr. ERTEM has authored many articles in the fields of economy-politics, economic policies, and monetary policies. For many years, he was a columnist and a TV commentator on economics in various media outlets and newspapers. He was rewarded 2011 “MÜSİAD Best Economics Writer” award. He has authored four books as “Bitişler ve Başlangıçlar,” “Yeni Dünya Düzeni-Wiki Leaks,” “Dünyayı Sarsan 60 Gün,” and “Yatağını Bulan Nehir” (Political Economy of the Erdogan Era). Dr. Ertem is currently the Chief Economic Advisor of President Recep Tayyip Erdoğan and a member of the Economic Policies Council. He was elected as a Board Member of VakıfBank on August 13, 2018. He has been serving as the Deputy Chairman of the Board of Directors since June 12, 2020.

Abdi Serdar ÜSTÜNSALİH
Abdi Serdar ÜSTÜNSALİH
General Manager - Executive Board Member

Born in 1963 in Trabzon, Abdi Serdar ÜSTÜNSALİH holds bachelor’s degrees in Business Administration and Physics and master’s degrees in Public Administration and Information Systems. Mr. ÜSTÜNSALİH, served as Manager, Chairman, and Executive Vice President at Vakıflar Bankası T.A.O., has been serving as General Manager and Executive Board Member since May 27, 2019. Abdi Serdar ÜSTÜNSALİH is also a Board Member at Türkiye Sınai ve Kalkınma Bankası A.Ş. and Deputy Chairman of the Board of Directors at the Banks’ Association of Türkiye. Actively engaging in numerous charitable foundations and associations, Mr. ÜSTÜNSALİH is married and has two children.

Abdülkadir AKSU
Abdülkadir AKSU
Independent Board Member

Born in 1944 in Diyarbakır, Abdülkadir Aksu completed his primary education at Diyarbakır Republican Primary School and his secondary education at Ziya Gökalp High School. He started his higher education at Ankara University, Faculty of Political Sciences in 1962. After his graduation, he started to work as Intern District Governor in Diyarbakır and then served in Ergani District Governorship, as District Director of Sinan in Bismil District, and as Deputy District Governor in districts such as Genç, Akçadağ, and Doğanşehir. He was appointed as the District Governor of Kınık in 1970. After his military service, he served as the District Governor of the Sarıkaya district of Yozgat, the Police Chief of Malatya, the Deputy Governor of Kahramanmaraş, the Central Police Chief, and the Deputy General Director of the General Directorate of Security, respectively, from 1973 to 1980. On August 29, 1980, he was appointed as the Governor of Rize and also held the offices of Governor and Mayor simultaneously for a short time. After serving as the Central Governor, he served as the Governor of Gaziantep between 1984 and 1987. Elected as the “Bureaucrat of the Year” in 1985, Aksu is also a statesman who has been granted the “Politician of the Year” award dozens of times.

On November 29, 1987, he was elected as the 18th term Diyarbakır Deputy from the Mainland Party and became Deputy Chairman of the Parliament Group of the Mainland Party in December 1987. He was appointed as the Minister of Interior in the 46th Government of the Republic on March 31, 1989; and continued this duty until June 23, 1991, in the 47th Government of the Republic. On December 24, 1995, he was elected as Deputy Chairman of the Mainland Party Parliament Group again, shortly after he entered the Parliament as a Diyarbakır Deputy from the same party. He was appointed as the State Minister position responsible for the South Eastern Anatolia Project in the 53rd Government of the Republic. Aksu joined the Welfare Party on August 16, 1996, and served as a member of the General Administrative Board and Vice President of this party. Mr. AKSU continued politics in the Virtue Party after the Welfare Party was dissolved by the Constitutional Court. Abdülkadir Aksu has been one of the founders of the AK Party by continuing his political life with new enthusiasm and new dreams with Recep Tayyip ERDOĞAN, with whom he has great confidence in politics. After serving as the Deputy President responsible for the Local Governments in this party, he was elected as a member of the parliament from Istanbul 3rd District in the elections held on November 3, 2002. He served as the Minister of Interior during the 58th and 59th Cabinets, and between 2009 and 2012, he served as the Deputy Chairman of the AK Party responsible for the Political and Legal Affairs.

Mr. Abdülkadir AKSU was elected as the Chairman of the Board of Directors of VakıfBank in May 2019 and served until March 2021, he further continues to serve as an Independent Board Member.

Dr. Adnan ERTEM
Dr. Adnan ERTEM
Board Member

Born in 1965, Dr. Adnan Ertem completed his secondary education in Erzurum. He graduated from Istanbul University, Faculty of Political Sciences and Department of Public Administration in 1987 and got his Ph.D. in the field of sociology in 1997. Beginning his career as an Assistant Auditor at the General Directorate of Foundations in 1988, Dr. Ertem was appointed as Auditor in 1991 and Chief Auditor in 2002. Between 2002 and 2007, he served as the Regional Director at the Istanbul Regional Directorate of Foundations. Between 2007 and 2010, he held the position of Deputy Undersecretary of the Turkish Prime Ministry, following this position, he served as the General Manager of the General Directorate of Foundations between October 14, 2010, and December 26, 2019. In December 2019, he was appointed as the Deputy Minister of Family, Labor and Social Services. On April 21, 2021, since the Ministry in question was divided into the Ministry of Family and Social Services and the Ministry of Labor and Social Security. Adnan ERTEM currently serves as Deputy Minister of Labor and Social Security. Currently serving as the Member of the Board of VakıfBank since October 27, 2010 and Associate Member of Remuneration and Committee and Loan Committee, Dr. Adnan ERTEM is married and father to two children.

Şahin UĞUR
Şahin UĞUR
Board Member

Şahin Uğur completed his primary and secondary education in Malatya and Erzurum and graduated from Atatürk University, Faculty of Business Administration, Department of Business Management in 1979. He started his career at VakıfBank in 1984 and served as Deputy Manager, Manager, and Head until 2004, and then served as Executive Vice President between 2004 and 2013. Following that, Mr. Uğur served as a Board Member at VakıfBank International AG Vienna, Güneş Sigorta, Taksim Otelcilik, Atakule Real Estate Investment Trust, Vakıf Menkul Kıymetler A.Ş., Vakıf GYO A.Ş. which are subsidiaries of VakıfBank. Şahin Uğur, who has been a member of the VakıfBank Board of Directors since June 9, 2017, is also a Member of the Loan Committee.

Halil ÇELİK
Halil ÇELİK
Independent Board Member

Born in 1956 in Akçaabat/Trabzon, Halil ÇELİK completed his primary, secondary, and high school education in Akçaabat and graduated from Eskişehir Academy of Economics and Commercial Sciences, Department of Economics in 1980. In 1982, he started to work as an Assistant Auditor at Ziraat Bank and continued his services as an Auditor and Chief Auditor. He served as Trabzon Regional Manager between 1995 and 1999 and Erzurum Regional Manager between 1999 and 2002 at the same bank. He served as Auditor at İlbank between 2002 and 2003, Executive Vice President at Halkbank between 2003 and 2010, and Board Member at Halk Yatırım. Between 2010 and 2012, he served as a Board Member at Ziraat Bank, Ziraat Leasing, Azer Türk Bank, Turkmen Turkish Bank, and Ziraat Insurance. Between 2019 and 2024, he served as Deputy Chairman of the Board of Directors at Vakıf Finansal Kiralama. At the 70th Ordinary General Assembly Meeting of VakıfBank held on June 6, 2024, he was elected as an Independent Board Member.

Haydar Kemal KURT
Haydar Kemal KURT
Independent Board Member

Haydar Kemal Kurt, who was born in 1963 in Isparta, graduated from Istanbul University’s Faculty of Law in 1984. He worked as a freelance lawyer from 1986 to 2007. He served as an Alderman in Istanbul Metropolitan Municipality and Güngören Municipality, and as the Chairman of the Law Commission of Istanbul Metropolitan Municipality from 2004 to 2007. In 2007, he was elected as the 23rd Term Isparta Deputy for the Turkish Grand National Assembly and worked as a member of the Constitution Commission. Haydar Kemal Kurt was appointed as an Independent Member of the Board of Directors at the VakıfBank Ordinary General Assembly Meeting held on March 25, 2022. Mr. Kurt is married with three children.

Sadık YAKUT
Sadık YAKUT
Board Member

Mr. Yakut was born in Kayseri/Büyükkaramanlı in February 3, 1956. He was graduated from Istanbul University, Faculty of Law. He served as a public prosecutor in Halfeti, Çamardı, Savaştepe and Giresun. He served as Investigative Judge and Head of Department within the Ministry of Justice General Directorate of Prisons and Detention Houses. He resigned and became a deputy candidate while he was working as the Ankara Public Prosecutor. He entered the parliament in the 1999 elections as Kayseri Deputy from the Nationalist Movement Party. He served as Group Board Member for his party and Constitutional Committee Member. He served as a Board Member of Gençlerbirliği Sports Club as well. Sadık Yakut, a Founding Member of the Justice and Development Party, served as the Vice President of this party. In the 22nd, 23rd, and 24th terms, he served as the Justice and Development Party Kayseri Deputy and Vice President of the Turkish Grand National Assembly. Mr. Yakut was elected as a Board Member of VakıfBank on May 27, 2019. He is also a member of the Corporate Governance Committee and Renumeration Committee. He is married with 3 children.

GRI 2-17, 405-1