Following a relatively stagnant hiring market in previous months, a further slowdown has been seen in May with some headhunters observing that fewer banks are hiring while others warn that RMs need to “beware of salary bump offers”. “A lot of the banks are slowing down their hiring and, in some cases, there have been hiring freezes. Further consolidation within […]

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The competition for asset management talent in Singapore has intensified as UHNW investors increasingly establish family offices, according to a report released by Randstad Singapore. “Singapore is an attractive location because of its market stability, favourable tax laws as well as availability of talent pool for financial investors who are looking to tap on global opportunities to grow their assets,” […]

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In the wake of discretionary bonus announcements, March saw bankers choose between staying put or seeing if the grass really is greener despite concerns over whether or not the talent war is drawing to a close. While a number of recruiters hold a positive outlook on 2019’s private banking job market given the year-to-date rally, others are less optimistic. “All […]

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As China undergoes the largest intergenerational wealth transfer in its history, private banks in Hong Kong and Singapore are offering significant salary hikes to wealth planners in a bid to capitalise on the opportunity, according to recruitment firm Selby Jennings. “In relation to wealth transfer in China, a huge chunk of wealth is moving out from China and towards Hong […]

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The Private Wealth Management Association’s (PWMA) apprenticeship programme has received positive feedback from all key stakeholders, including private banks which say the scheme has provided unique access to top talent from local universities. The Pilot Apprenticeship Programme for Private Wealth Management was founded by the PWMA and the Hong Kong Monetary Authority (HKMA) in 2017, with an initial intake of 29 […]

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Bank of Singapore turned to artificial intelligence to help scour through applications for its management and technology associate programmes in a bid to improve the efficiency and fairness of the selection process, according to the bank’s head of human resources. As of January 2019, more than 450 fresh graduates and final-year undergraduates had applied for Bank of Singapore’s Management Associate […]

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The hiring drive amongst private banks in Singapore and Hong Kong will continue in 2019, resulting in “significant salary increments” for in-demand front office and compliance talent, according to Hays. The recruitment firm believes that front office hiring at private banks in Hong Kong will remain active throughout the year following the talent war of 2018. Relationship managers “at director level […]

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Amid robust competition for private banking talent, Mandarin proficiency is fast becoming a much sought-after skill for the front office in Hong Kong as banks ramp up efforts to recruit high-performing relationship managers to service China’s burgeoning high net worth market, according to Morgan McKinley’s 2019 Hong Kong Salary Guide. “While English remains the dominant language for financial markets, banks […]

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Asset and wealth management executive search firm Huddleston Jones has added a new managing partner in a bid to bolster its Greater China coverage. Jonathan Hollands, former managing director of Carraway Group, has joined the new firm as its Greater China managing partner effective Monday. When contacted, founding partner Danny Jones called the appointment a “breakthrough”, cementing the firm as […]

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Asia’s private banks, including some “usually quiet” players, have been hiring up a storm with heightened demand in the Greater China market. Beyond the recent flurry of hires seen at regional majors, including Credit Suisse, Julius Baer, and Bank of Singapore, headhunters have told Asian Private Banker that a number of typically less-active banks are also moving to bulk up frontlines, adding to the […]

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Demand for relationship managers from European financial institutions including private banks is strengthening amidst widespread optimism over market performance and wealth creation in Asia, recruiters tell Asian Private Banker. “Hiring [in 2018] continues to tick upwards as banks’ sentiment is strong on the back of the continuous growth of wealth within the region,” according to Jonathan Shiu, section manager at Hays. Shiu […]

The post PB hiring picks up but wage growth to stagnate in 2018, says Hays appeared first on Asian Private Banker.

The private banking industry has performed “unexpectedly well” in the job market after a slower year in 2016, with a strong uptick in the number of hires of product specialists, largely to cater to Chinese HNWIs and their increasingly intricate needs. According to Matthew Bennett, managing director, Greater China of Robert Walters, a global recruitment consultancy, the job market in […]

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Cyber security professionals are a hot commodity, as institutions across Hong Kong – including private banks – place a greater emphasis on erecting stronger defences against cyber-attacks. According to recruitment firm, Hays, banks are setting aside bigger budgets to increase headcounts during Q1 and are seeking cyber security talent to “bolster their defences against attacks on data integrity big data systems and […]

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2016 was a relatively lacklustre year for hiring in Asia’s private banking industry, as evidenced by widespread cuts of non-performers and relationship managers managing relatively small accounts; and global recruitment firm, Robert Walter, expects 2017 to deliver more of the same. “Private banks have been intensively analysing how much bang for the buck they can get from each client,” comments John […]

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