Hays Banking - January 2010
Hotspots
Commercial and corporate bankers with solid track records in Asia will be a hotspot of demand for the foreseeable future. Those with experience in corporate banking products such as trade finance and cash management and who are well networked in this space are also in high demand.
With gradual stability returning to the market and companies now thinking about expansion and growth again, these bankers will be increasingly busy. Many banks recognise this trend and so are reinforcing their ranks, particularly within the local and large corporate space. Private equity and hedge funds have made a comeback in recent times. Many predicted this space would continue to have major difficulties, but local funds in particular are hiring at analyst and associate level. Global funds are also seeking candidates with a distinguished education and 1st tier investment banking experience.
The coming quarter
Market conditions will continue to gradually improve, resulting in some recruitment this quarter. There will be high demand for front office candidates at the end of the quarter as banks prepare for 2010. There will also continue to be demand for risk, compliance and credit candidates as the market improves.
Salaries
Following the recent downward trend of quarter one, an optimistic attitude to salaries across the banking sector should ensure they not only remain stable, but undergo a slight increase as we continue throughout the year.
Candidate trends
Candidates from the UK, US and Australasia continue to enter the local market. However without language skills there are little opportunities for these candidates. Employers typically request native Chinese speakers with perfect English language skills who have ideally been educated at top US schools.
