ANZ hires in Vietnam, profits fall in Aus

Despite announcing its first fall in profits in ten years, ANZ is gearing up to double its headcount in Vietnam. And there will be jobs for Aussies willing to relocate.

ANZ has posted an overall net profit for the year ended September 30 of AU$3.319bn, down 21% from fiscal 2007. But the bank is pressing ahead with its so-called ìsuper regionalî strategy of expansion in Asia, with profits in that region actually up by 53% following its investments in AMMB Holdings Berhad, Shanghai Rural Commercial Bank and PT Bank Pan Indonesia.

Vietnam is also key to this Asian growth. ANZ plans to open a new headquarters in Sun City, Hanoi, in addition to at least four branches in Hanoi and Ho Chi Minh City, according to Kimberley Reid, general manager human resources, Asia Pacific. The firm employs about 450 people in Vietnam and, pending regulatory approval of these new offices, expects to increase headcount to more than 1,000 by the end of 2009.

Reid tells eFinancialCareers: ìWith growth planned across our retail, relationship banking, trade, global markets and support businesses, typical hiring will be primarily focused on attracting tellers, branch managers, sales officers and relationship managers initially.î

Employment for Australians

ANZ recruiters are targeting Vietnamese nationals working in Australia and around the world, who may be keen to return home. ìIn addition, experienced Australian bankers with expertise either in developing retail products and new customer channels, institutional product experience or with skills particularly across functions such as technology and risk are sought to work on a project basis,î says Reid.

Vietnamís allure as a destination for Aussie finance professionals is on the up partly thanks to the financial crisis, says Richard Mills, chairman of search agency Chalr Associates, which specialises in emerging Asian markets. ìLuckily for ANZ and other banks, the slowdown is making candidates more open to moving to wherever the jobs are.î

Retail and consumer opportunities dominate the market as investment banking is in its infancy, says Mills. But he warns that career development in Vietnam is largely based on business growth, rather than learning new technical skills. ìYou need to make sure youíre working in a bank which is growing fast, otherwise youíll get bored after about 18 months.î

Reid reckons Vietnam is ìa fascinating experience for any Australian seeking to take up the challenge of working in a fast-paced emerging market. The banking financial service industry is booming, creating many new businesses and job opportunities for professionals with the right skills.î After 14 years in Vietnam, ANZ won a licence this month to open a fully-owned bank there. HSBC and Standard Chartered are the only other foreign banks to be granted permits.