The tide is turning for a new generation of PB relationship managers in Asia’s twin financial hubs, with talent being recruited locally in significantly larger numbers than a decade ago. A decade ago — when the industry was on the cusp of rapid expansion — quite a number of private bankers were hired from other parts of the financial services […]

The post More next generation private bankers in Hong Kong and Singapore recruited locally appeared first on Asian Private Banker.

After stalling momentarily on the hiring front last year, private banks in Asia are ready to ramp up activities to meet headcount targets, with many zeroing in on high performers with megabooks. The momentum already showed signs of picking up in 4Q20, and recruiters concurred that private banks were building up the pipeline, even during the worst days of the […]

The post PBs build up hiring pipelines for 2021 but expect fewer openings; bonuses mostly flat appeared first on Asian Private Banker.

After a fairly quiet August on the private banking hiring front, bankers may expect bonus cuts as banks’ revenue thinned, but recruiters observed that the hiring momentum seems to have shifted slightly towards the family office (FO) and external asset manager (EAM) side. “Private banks’ business revenue seems mixed this year, as the large firms’ investment banking divisions are suffering […]

The post Movers & Shakers – August 2020 appeared first on Asian Private Banker.

Several private banks have recorded high-level management changes as of late, though hiring overall has slowed — as is to be expected near the end of the year. Meanwhile, recruitment professionals across Asia expect private banking hiring to regain momentum after the bonus pay-outs in 1Q20. Even so, hiring specialists are maintaining conversations with senior bankers in Hong Kong and […]

The post Movers & Shakers – November 2019 appeared first on Asian Private Banker.

In a restless month coloured by a prevailing sense of uncertainty over Hong Kong’s controversial extradition bill, Asia’s private banking industry saw a marked decline in talent movement as hiring managers and candidates alike adopted a cautionary wait-and-see stance. “I was on business in Hong Kong when the movement in Admiralty started on Wednesday 12th; my phone had never been […]

The post Movers & Shakers – June 2019 appeared first on Asian Private Banker.

The recent sales of Barclays’ Asia wealth business and Coutts International have provided competitors with a window of opportunity to hire aggressively, a number of private banking market heads and recruiters tell Asian Private Banker. “Hiring one relationship manager (RM) after another is too slow in an environment where private banks are already spread so thin,” says one regional market head based […]

The post Competitors using recent PB acquisitions to lure front line talent appeared first on Asian Private Banker.

In the wake of disappointing year-end results marked by low profits and high operating costs, private banks have been forced to slash bonuses for 2015, though salaries are expected to rise 8-10% on average over 2016, Asian Private Banker has learnt. The shallow private banking talent pool across Asia is perhaps the main impetus behind rising wages, despite turmoil market conditions […]

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