In an interview, ANZ’s head of Asia-Pacific, Europe and America Alex Thursby said that the bulk of any hiring will likely be in China and Vietnam, as ANZ’s wealth-management business is expected to grow 15%-25% per year during the period.
Thursby, who was attending a China strategy conference of the Australian Institute of Company Directors, said ANZ will raise its stake in Malaysian group AMMB to 49% cent if the government increases the cap on foreign ownership.
In March, Prime Minister Datuk Seri Najib Tun Najib Razak told Reuters that he would consider allowing ANZ to raise its stake in AMMB to 49% from 24%.
Currently, ANZ has more established wealth-management operations in Hong Kong, Indonesia, Singapore and Taiwan.
