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Daily Dispatches: China’s recruitment renaissance

Boutique banks and Chinese banks are both being talked up as safe employment havens right now in the wake of bulge-bracket layoffs. But if you combined the two, you get real talent-pulling power. Case in point: China Renaissance Securities, a boutique mainland broker, has recently poached two senior bankers from foreign rivals. The firm has hired Jason Lam from Credit Suisse as head of equity capital markets, based in Hong Kong. It has also snapped up Charles Kim from Mirae Asset Securities as its US-based head of equities. Recruiters in Hong Kong remain sceptically about how long Chinese firms can maintain their recruitment clout; a market pickup may drive some bankers back to the international banks.

AXA expands in Asia (WSJ)
AXA’s Asia chief executive Mike Bishop talks about why global insurance firms want to expand in Asia.

Admiring ECM (eFinancialCareers)
Working in equity capital markets is the best all-round job at an investment bank, but only if you can handle the pressure of billion-dollar underwriting deals, said Richard Sleijpen, executive director, ECM at UBS in Sydney.

Forex to the fore (The Standard)
Currency volumes spiked in January and have stayed robust so far, thanks to unexpectedly strong and persistent rallies in the euro and weakness in the yen, demand from institutional clients, and increased flows in world equity markets.

More jobs in Aus (Sydney Morning Herald)
Job advertisements in Australia rose in February to their highest level since October 2012, a leading employment survey says.

Banker battle (Straits Times)
A top Chinese banker said Beijing is “fully prepared” for a currency war as he urged the world to abide by a consensus reached by the G20 to avert confrontation.

Brickies and bosses (FT)
Most debates surrounding the EU directive to cap banker bonuses and the Swiss fat-cat pay referendum quickly descended into emotional mud fights. A useful place to start is the economic theory of marginal product of labour.

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