Retail and Private Banking Relationship Managers – Retail banks are currently aggressively hiring for their front lines in a push to increase revenue. Meanwhile private banks are investing in staff as they see upside in the region for private banking products. Private banks are competing harder than ever to recruit Relationship Managers as they aim to capture some of the newly created wealth in the region.
Bancassurrance Salespeople – Retail banks are seeing the benefits of the Bancassurance model and are looking to increase the size of their sales force. Banks are offering insurance products in addition to their traditional banking products.
Risk Managers – As regulations change or new ones are created, there continues to be high demand for Risk Managers who can help banks keep on top of the latest regulatory developments.
Equities Sales and Sales Trading – Experienced candidates who can bring an active client base are sought by smaller regional and Chinese firms. Skills in Delta One and Algorithmic trading are in demand as employers continue to require high speed and low cost trading options.
Transaction Banking specialists – Demand has been especially high for trade, cash and factoring sales. These are product specialists who work alongside Relationship Managers to promote cash, trade, structured financing and other customised solutions products to increase cross selling opportunities.
Local market expertise – Candidates from abroad are finding it increasingly difficult to secure a position locally as employers are looking for candidates with Mandarin and Cantonese language skills coupled with recent work experience in China.
The outlook for the Hong Kong and Chinese equities markets remains upbeat and there has been hiring in this space. However, fixed income remains subdued.
Candidate supply continues to be low despite the high demand from employers. Senior candidates are less likely to move at present as they are tied to bonus agreements.