HK
Alternative investors’ ever-expanding appetite for bankers
Hedge funds and private equity funds are keener than ever to poach junior to mid-ranking investment bankers. They tend to have fairly specific requirements. “Hedge funds are currently looking for clever junior bankers with a leveraged finance background, but in addition, they have to have excellent statistical modelling skills and preferably Mandarin,” says Phil Pemberton [...]
Chinese derivatives jobs market to boom
Derivatives jobs related to China’s financial markets are set to boom this year, spurred on by the country’s new interest rate benchmark mechanism and the expected launch of China’s first index futures contract. As the Chinese derivatives market develops, expertise is likely to be drawn from Hong Kong and Singapore. Dennis Koh, managing partner of [...]
Fireworks in leveraged finance
Hong Kong’s leveraged finance market is exploding, with JPMorgan the most recent player to engage in pyrotechnics. “The leveraged finance market has been seeing strong growth since the second half of last year,” says Mark Jones, managing director at search firm the Laurus Group in Hong Kong. “Given it’s post-bonus season, there’s plenty of activity [...]
The new breed of asset manager
In pursuit of yield, asset management divisions of banks are behaving like hedge funds. They’re attracting a new type of banker as a result. Over the past year, the likes of Deutsche Asset Management (DAM) and Barclays Global Investors have recruited staff almost as quickly as they’ve increased assets under management. The asset management (AM) [...]
Anyone know any structurers?
It’s a great time to be a structurer: Asian banks are upgrading derivatives platforms and there’s not enough talent to go around. With increasing growth across Asia in the derivatives space, including structured interest rate products, structured credit, exotic foreign exchange, equity and commodity derivatives, banks are investing heavily to meet the opportunities. John Jessen, [...]
Citigroup’s Arctic blast to bypass Asia?
Look west, and a chill wind is coming from the direction of Citigroup. But in Asia the temperature at the bank still feels remarkably balmy. Financial News reported last week that Citi had put a halt on hiring for the next 18 months while it ‘reviews its structure’. And the Financial Times reported at the [...]
Guest comment: How to play a lower-than-expected bonus
Guy Day, managing director for Asia at recruitment firm Ambition, advises how to react if your bonus doesn’t measure up to expectations. The discussion of bonus is an extremely contentious subject. It’s also an emotional one and quite rightly so. The prestige of working in high-profile financial institutions comes at a price – intensive hours, [...]
Creaky service from private banks
Talent shortages mean private banking is showing signs of strain in both Singapore and Hong Kong, says Christopher Sykes, managing director of Greater China at executive search firm Edward W. Kelley & Partners. “There is increasingly a mismatch between important clients and the bankers who are serving them – often bankers in their 30s who [...]
Market growing for hedge fund marketers
As Hong Kong hedge funds grow, talent is becoming as scarce as gold dust – and as valuable. The hottest area is the front-end marketing side, says a recruiter at an international recruitment firm. Local talent shortages mean that staff are being shipped in from overseas. “We are definitely not going to find this kind [...]
Why does Goldman pay so much?
Despite allegations that we talk too much about Goldman Sachs (and following a request from a reader), here’s why Goldman is so generous. 1. It makes more money. Net revenues per head in 2006 were $1.4m (725k). This compared to $678k at Lehman Brothers, for example. At 43.7% as a proportion of revenues, compensation costs [...]
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