Dennis Hussey, the current chief executive officer (CEO) of Citibank Vietnam, will become the new CEO of ANZ Vietnam Bank from March next year as announced by ANZ Group.

Dennis Hussey, CEO of Citibank Vietnam (2nd, L), is seen at a ceremony in Hanoi last month.

The appointment is unprecedented when the CEO of a foreign bank in Vietnam will take up the same post at one of its rivals when his/her office term has not ended.

Hussey took office at Citibank Vietnam on January 1, 2014 and will leave on March 11 next year, according to a source close to the Daily.

ANZ Vietnam said in a statement on December 16 that Hussey has over 19 years’ experience in individual and corporate finance, and used to work in Vietnam between 2000 and 2002. The new CEO will be responsible for developing services and products for ANZ Vietnam, and enhancing the bank’s operations in this market.

The appointment will need regulatory approval from the State Bank of Vietnam.

Phan Thi Thanh Binh, director of the finance market at ANZ, will continue to serve as acting CEO at ANZ Vietnam until Hussey comes.

Former CEO of ANZ Vietnam Tareq Muhmood has moved to Singapore to work as ANZ’s Global Head of Diversified Industries.

HSBC Vietnam Bank, another foreign bank in the country, early this month picked Pham Hong Hai as its new CEO. His predecessor Sumit Dutta moved to HSBC Indonesia before ending his term of office.

SGT/VNN