Relationship Managers – For commercial and corporate banking, these revenue generating candidates are in high demand. The recruitment of these positions will affect whether there is a further need for mid-to-back office hires. There were new headcounts created in almost all banks for Local Mid-Cap Relationship Managers in the past few years in Hong Kong creating a huge mismatch in supply and demand. While banks are trying to grow, they are also being very selective in their hiring as they raise their standards of recruitment. Special emphasis is placed on the immediate client connections a candidate can bring. Relationship Managers with four to ten years of experience are in most demand.
Credit Analysts – Credit Analysts with local experience are favoured over foreign candidates to complement relationship management hiring. Employers are looking for candidates with between five and 15 years of experience.
Local/Greater China exposure – Global banking transactions have slowed down over the past few years and resources and headcount has focused instead on growing the local mid-cap or China corporate sectors. Many banks have identified these segments as possessing the highest growth potential. Candidates with five to ten years of experience are the most sought after. But for the China sector most banks prefer internal transfers from China as opposed to local hires.
Institutional Sales/Business Developers – Many Investment Managers are looking at growing their Greater China and regional business, which has increased demand for candidates with strong institutional sales networks and other distribution channels.
Investment Banking Analysts/Associates – Banks are looking to grow their cross border deal flow and are consequently seeking individuals with strong financial modelling skills with exposure to ECM and DCM. Their focus is on experience working on M&A and IPO deals.
We have seen a slight increase in the number of newly created jobs. There is still a steady flow of candidates in most areas due to previous redundancies and reorganisation plans.