HK
Recruiters beware: Cost-conscious banks are in the mood to do more of their own hiring
Many international financial institutions in China are on a drive to do more direct sourcing and become less reliant on recruitment agencies, according to delegates at yesterday’s eFinancialCareers roundtable in Shanghai, which was attended by 19 HR professionals. Although foreign firms in the mainland lag behind those in Hong Kong when it comes to in-house [...]
Daily Dispatches: It’s confirmed – 70 RBS staff will lose their jobs in Asia
RBS’s cash equities division in Singapore and Indonesia as well as its South Korean cash equities, ECM and corporate finance teams will not be part of the CIMB sale. The firm’s spokesman says 70 employees will be affected by the closure of these units. (Reuters) J.P. Morgan continues to boost its presence in China. The [...]
Wells Fargo set to give private bankers in Singapore yet another employment option
There have been some positive developments recently in Asian wealth management. Firms which have either made important hires and/or announced recruitment plans this year include VP Bank ,DBS Private Bank and UOB. The latest we’ve heard? Wells Fargo, which already has a corporate banking presence in Singapore, will set up its private bank in the [...]
Daily Dispatches: A senior banker turns down Deutsche’s Asia Pacific CEO role; AllianceBernstein hires
Loh Boon Chye, Deutsche’s head of corporate and investment banking, was said to have been offered the prime CEO seat for Asia Pacific, however he has decided to leave the firm after 17 years. Loh is taking the time out to “think about broader career options, including those outside of banking”. Instead, Gunit Chadha, CEO [...]
Do banks need to Google up their workplaces?
It’s no surprise that technology and creative companies have the snazziest offices. A cursory search online of the world’s best workplaces will throw up the usual suspects like Google, Facebook and Twitter. Given that financial firms rarely make an appearance on these lists – and with bonuses shrinking everywhere – perhaps they should create environments [...]
Daily Dispatches: UBS bonuses are predictably smaller; Citigroup does some Asian hiring
UBS cuts its overall bonus pool by 40 per cent; investment banking bonuses were hit especially hard – down by 60 per cent. (The Australian) Citigroup hires James Boyle from Citadel to head up its equity derivatives trading desk in Asia. Asia equities trading chief Joseph Chan says: “We continue to grow our Asian trading [...]
JPMorgan’s analysts have produced another report full of essential information for anyone with a career in global banking. This is what it says
Intermittently, the banking team at JPMorgan will produce an exceptional report on the state of the industry. They did it in November and they did it in February.They’ve just done it again. Their report is huge, at 232 pages. This is what you need to know. 1. Revenues are stagnating. FICC is still crucial. M&A [...]
The possible risk of a brain drain when CIMB buys RBS’ Asian assets
Earlier this month we heard about how Malaysia’s CIMB had reached a preliminary agreement to buy RBS’ Asian assets. As reported, the sale of some of these unprofitable businesses is likely to save hundreds of jobs, particularly in cash equities, equity capital markets and corporate finance. While that’s positive news on the employment front, it’s [...]
If you know enough wealthy people in China, you could end up being a private banker
It’s no secret that relationship managers are sought after in the mainland, but now banks in Hong Kong and the UAE are trying to lure them into jobs offshore. Oliver Draper, director, Consult Group Asia Pacific, says it’s been a “unique” start to the year and his firm is currently recruiting more Chinese RMs into [...]
Daily Dispatches: Advice for Goldman Sachs aspirants; DBS Private Bank hires yet again from a Chinese firm
An ode from Bloomberg’s editors to Greg Smith, the former Goldman Sachs executive director, who left the firm in a very public manner: “We have some advice for Smith, as well as the thousands of college students who apply to work at Goldman Sachs each year: If you want to dedicate your life to serving [...]
Follow eFinancialCareers
What is RSS?
