Hays Banking
January - March 2012
HONG KONG Hotspots
Despite a quieter market, there is still a very strong demand for both credit and market risk candidates. Due to the aftermath of the global financial crisis, financial institutions are being very cautious about how business is conducted so they are investing more heavily in this area.
Asset Management sales and distribution candidates, including Head of Asset Management and Asset Management Wholesale & Institutional Sales Managers are wanted to help attract cash-rich investors.
Overcoming skills shortages
Hong Kong has a very limited talent pool and the demand from multinational banks for overseas educated candidates is high. Therefore we advise employers to cast the net wider and consider candidates from other parts of Asia wherever possible.
The coming quarter
Historically this first quarter is always a busy one with new headcount added. This year however we are expecting a slow but gradual introduction of roles following Chinese New Year with long selection processes.
Employer trends
Chinese banks have been the more active recruiters and this will continue. Other global banks will increase their use of contract workers and will focus on key replacement roles of seniors with more junior candidates. Chinese language skills are more in demand than before.
Candidate trends
Top tier candidates are more willing to consider roles with smaller tier China banks. While a number of candidates are concerned about moving jobs during uncertain times, a growing number are looking to move into safer growth organisations to secure a position before the applicant pool begins to heat up.
