Merrill Lynch Appoints New Head Of Vietnam Business

by Stewart Douglas

Story link: Merrill Lynch Appoints New Head Of Vietnam Business

Investment bank Merrill Lynch has today announced a high profile appointment within its Vietnamese business to reflect is ongoing commitment to present investment opportunities at the forefront of capital investment markets.

The bank announced that it had appointed Khoi Phu Pham to the top position within its relatively new Vietnam division, which will see him working out of the Singapore office in managing investments and assets within the Vietnam market.

In his previous position Khoi worked with Standard Chartered Bank in Singapore with responsibilities including head of credit trading and fixed income investments from the regional division there, as well as working in the Asian division of Barclays Capital with a similar remit.

Speaking today on the appointment, Merrill Lynch have said they are delighted to see Khoi take up post within their Vietnamese division with his distinguished career to date thus far making him a more than suitable candidate.

The move comes amidst Merrill Lynch’s ongoing drive to establish regional operations across the world, particularly in what it described as the key markets of Vietnam and Singapore as economic development there begins to pick up momentum, with the potential to yield substantial return on initial asset holdings.

However it looks unlikely that Merrill Lynch will be allowed to capitalise without a fight, particularly considering that many of its rival investment banks have substantial resources already within the Vietnam market, awaiting its growth to potential over the coming decade.  JP Morgan, Credit Suisse and Deutsche Bank are among the several leading competitors that already have more established Vietnam operations than Merrill Lynch at present.

It has been forecast that the value of capital in the Vietnam market will reach $16 billion by the end of the decade, reflecting the extent of exposure investment banks are forecasting over the coming years as they attempt to jump on the economic bandwagon before it picks up speed.