HK
Sector: Operations
The spectre of even more layoffs looms in Asia after HSBC announces 3,000 Hong Kong job cuts
It’s been quite a shock for some, but Asia is no longer impervious to the large-scale financial job cuts that have hit the West. HSBC announced this week that it will axe up to 3,000 jobs in Hong Kong by 2013. These redundancies are mostly in support roles, including banking technology, human resources and administration. [...]
HSBC job cuts: Singapore saved; Hong Kong hit
Yes, we’ve all heard HSBC’s dramatic announcement that it will slash 30,000 jobs globally, mostly in the back office. But some light has now been shed on what this means for Asia Pacific. The Straits Times reports that the firm will not axe staff in Singapore and will instead hire up to 1,000 people in [...]
Career CPR: I just want to move within the back office but even that’s proving impossible
Review this candidate’s dilemma, then give him some advice in the comment box below. His dilemma “I am based in Singapore and have been working in investment banking operations for the last six years, mainly specialising in asset servicing. I want to move to a new back-office department or product, such as settlements, derivatives or [...]
Career CPR: I’m a back-office star, but my job search is back firing. Help me out
In the latest installment of our Career CPR series, we hear from a frustrated banker who has been fruitlessly hunting for a job in Singapore. Read his dilemma and offer your advice in the comments box below. The dilemma: I’m an Indian national who has worked in a top-tier European bank in Bangalore in back-office [...]
Credit Suisse is hiring 500 and SCB is paying stunning salaries: Is Singapore’s Changi a boom town for banking jobs?
The hottest place in back-office employment in Singapore banks these days? Changi Business Park – the CBD’s cheaper, less glamorous cousin. Just last week, Credit Suisse announced plans for a new office in Changi, on the eastern part of the island. That new office, operational in mid-2013, will house about 4,000 staff, made up of [...]
Why DBS pays massive middle-office bonuses; why Barclays doesn’t
Product control at DBS: not a particularly glamorous role, not a top-tier international bank. But PC bonuses at DBS are stacking up nicely against those at larger institutions, including Barclays. The average bonus for a DBS product controller in Singapore is about three months, with top performers earning six. “At the top end, that’s a [...]
BarCap’s cuts not so severe in Asia
First the bad news: Barclays Capital is making redundancies (remember those) in Singapore, but (here’s the good news) we’re not talking very large numbers. Only an unfortunate few are set to go and many of them should get snapped up by other firms. Bloomberg recently reported that BarCap is cutting about 300 administrative and support [...]
Forget the front office: hot jobs behind the scenes in Singapore
Our pick of some of the most active jobs outside the front office in Singapore… Product controllers with loads of qualifications Increased demand in this function is due to a number of factors, in particular minimum replacement hiring last year, which meant that teams who lost staff were short handed for several months. Other reasons [...]
70 Coutts bankers quit to join BSI
The 70 RBS Coutts employees in Singapore who grabbed international headlines today by quitting the firm en mass are all joining the local office of Swiss private bank BSI. And many of the defectors are said to have clinched guaranteed three-year employment packages. It was announced last week that Hanspeter Brunner, former co-chief executive of [...]
Guest Comment: qualifications v experience in the back office
As job opportunities within back-office banking in Singapore start to grow again, it’s important to note what potential employers are looking for in their future recruits. One of the most sought after credentials is in fact, hands-on experience. Support staff should therefore think twice about investing their money in an expensive post-graduate academic qualification, which [...]
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