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Investor protests aside, here’s another very persuasive argument against generous banker pay
Executive pay isn’t all that it’s cut out to be, if a recent joint study by PricewaterhouseCoopers and the London School of Economics is anything to go by. Making executive pay work: The psychology of incentives, surveyed 1,106 executives across 43 countries. Ironically it found that highly complex compensation packages with deferred bonuses – beloved [...]
Wing Lung Bank is hiring account managers for its new private wealth management centre in Hong Kong
China Merchants Bank (CMB) has established its first overseas wealth management centre through its Hong Kong subsidiary Wing Lung Bank in a bid to tap into the growing demand for private banking services from PRC nationals in the territory. And it wants to recruit more account managers. Speaking about hiring for the new centre, a [...]
Goldman’s global head of growth markets succinctly explains how investment bankers can ensure they’re never without work in future
Goldman Sachs has been making videos and placing them on YouTube. They don’t appear particularly popular: some only have a handful of hits. Some appear to have none at all. However, this one, featuring J. Michael Evans, its global head of ‘Growth Markets’, deserves some attention. In it, J. Michael volunteers a perspective on what [...]
Guest Comment: Why firms in China should focus their retention efforts on professional development
Professional development has many benefits for an organisation, which extend beyond the career progression of individual staff. This applies to the financial services sector as much as to other industries. So where’s development needed? Financial leasing companies and the life insurance sector continue to remain buoyant in Chinaand there is a big shortage of accountancy [...]
Banks in Hong Kong admit they face a clear and present danger: staff attrition to the corporate sector
It seems slightly counter intuitive, given that a lack of vacancies is forcing some workers to stay in their roles without any encouragement from their employers, but banks in Asia are facing a serious retention threat. An increasing number of people are leaving financial services this year for roles in other sectors, according to the [...]
Q&A: Mike Connarty, director of international investments at Standard Life, advocates learning Mandarin if you want to get ahead
Mike Connarty is based in Edinburgh but he’s an international figure in financial services. As director of international investments, Mike manages Standard Life’s fast-growing joint venture investments in India and China. If you want to work for him, you’ll need a genuinely international outlook – and ideally the capacity to speak Mandarin. Q: How long [...]
State Bank of India eyes up China
Despite cautious hiring from large global banks in China, Asia’s regional banks are actively seeking opportunities. State Bank of India (SBI), India’s largest state-owned commercial bank, intends to expand its profile in China and plans to open two new branches in Tianjin and Guangzhou. Growth China CEO Dinesh Sharma says that once SBI gets approval from the [...]
The big picture: A look at 2011 bonuses for China’s finance professionals
In this latest post, we examine the results of the recent eFinancialCareers bonus survey in China. Here’s our take on the plausible reasons behind those figures, the trends and our predictions on post-bonus movement. To get the low-down, please click here to view the report.
Job rotation is key to recruitment and retention as DBS expands in China, says the bank’s HR head
DBS says it will inject another 2.3bn yuan into its Chinese subsidiary to accelerate expansion in the mainland. In 2011 its China business contributed 30 per cent of total profit growth, and earlier this year the Singaporean bank opened a new branch in Chongqing. Unsurprisingly, this is all leading to more hiring. Janice Foo, DBS [...]
Tell us: Would you gladly give up your cosy cubicle for an “officeless office”?
Bid farewell to your own desk along with its comforting clutter – communal work stations, or hot desking, could be coming your way soon, if a recent Wall Street Journal report is anything to go by. Unassigned work areas seem to be a growing phenomenon as companies seek to cut costs. American Express is one [...]
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