Foreign banks look local for CEOs

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Pham Hong Hai has been appointed the new CEO of HSBC Bank (Vietnam) Ltd., after being approved from the State Bank of Vietnam (SBV) and the HSBC Group. Hai has replaced Sumit Dutta, HSBC’s former CEO in Vietnam who moved to HSBC Indonesia.

ANZ Bank (Vietnam) Ltd. also recently selected Phan Thi Thanh Binh as ANZ’s acting CEO in Vietnam, replacing Tareq Muhmood in October. However this wasn’t ANZ’s first Vietnamese appointment. Dam Bich Thuy previously held the ANZ Vietnam CEO position for an extended period of time.

Hong Leong Bank Vietnam Ltd. also replaced its foreign CEO after Le Minh Tam took the position earlier in the year.

Local banks have preferred foreign CEOs. Techcombank nomitated Simon Morris as the bank’s CEO in January 2012. However, after two years heading operations, Morris left and Do Anh Tuan, member of the management board, has been acting CEO ever since.

Atul Malik and Tay Han Chong still hold positions at Mekong Development Bank but may fall victim to the merger with Maritime Bank in the near future.

Besides the CEO position, local and overseas banks also offer many foreign specialists key roles in their operations, especially as local banks have put great focus on promoting their retail banking and plan to establish financial companies.

VPBank offered former ANZ and Citibank veteran Kalidas Goshe the acting deputy general director position. Goshe was in charge of the personal banking division and is currently CEO for FE Credit - VPBank Finance Company Ltd.

At Vietnam International Bank (VIB), Rahn Wood has been head of retail banking since 2013. Wood is well-known worldwide with 26 years working in the retail and commercial banking, investment banking and eBusiness. In 10 years with HSBC, Wood held executive roles in Singapore, Vietnam, Hong Kong, Saudi Arabia and Australia.