Banks in Vietnam seeking to bolster their operations are confronted by an unusual challenge: they can't find enough bankers.
A shortage of senior banking professionals and digital banking experts is curbing growth in Vietnam's financial sector, according to a report by the country's English language news outlet «Vietnam News». Thousands of jobs are waiting to be taken up.
Making the situation worse for the domestic Vietnamese banks is the desire for bankers to ply their trade with a foreign bank. According to a recent report conducted by Navigos Group, a recruitment company in Vietnam, 50 percent of those questioned favored working for an overseas bank.
Wealth Management Outsourced
Candidates cited higher salaries, quicker promotion opportunities and the use of English as main pull factors. For the banks uncompetitive wages and remuneration remain the biggest obstacle to recruitment.
Global private banks hoping to tap into the growing seam of wealth in the country get around the scarcity of wealth management expertise by forming partnerships with local players. Lombard Odier is said to be looking at Vietnam to add to its already established Thai and Philippine unions.
