Australia and New Zealand Banking Group (ANZ) is planning to increase its headcount by 25% in Singapore over the period of next 12 months, reported Reuters.

The decision comes on the heels of ANZ’s acquisition of retail banking operation of RBS in Singapore.

Reuters quoted Bill Foo, CEO of ANZ Singapore, as saying: “ANZ plans to hire 500 or more people across its operation and possibly some more for its Asian commodities team. We currently have more than 2,000 people. We do plan to grow in the next 12 month, so our estimate is to add 500 people or more in the next 12 month.

“The new recruits would be for its private and retail banking operation as well as commercial, corporate banking and support staff.”