JP
Will pension injection help hedge fund hiring?
Japan’s Pension Fund Association has increased its investments in hedge funds six-fold over the past 12 months (Bloomberg). With US$2.8bn of its assets now in hedge funds, and with plans afoot to increase that to about US$5bn, has the new pension money given hedge fund hiring a boost? “We certainly think it’s had an impact [...]
Poaching not popular at private banks in Japan
Credit Suisse has poached someone from UBS to be its new head of private banking in Japan, but taking senior staff from rivals is still rare in this sector. The firm set up a private bank early this month and has appointed Junya Tani from UBS Securities Japan, where he was head of wealth management [...]
Gains for financial jobs if SWF gets go-ahead
As government advisor Takatoshi Ito urges Japan to create its own sovereign wealth with about $33bn in assets, it appears Japan could be about to jump on the SWF bandwagon (Bloomberg). And that may lead to new finance sector jobs across the back, middle and front office. Mark Pink at recruiter TopMoneyJobs says if created [...]
Real estate fund managers are still hot property
Japan’s real estate market is going through a slowdown as capital for investment becomes harder to come by, but property fund managers seem to be riding the storm. Junko Kannami, manager of the asset management division at Morgan McKinley Tokyo, says hiring levels in Tokyo’s property fund management market have remained relatively steady. “While some [...]
Slow but steady hiring at private banks in Japan
Foreign private banks are still on the hunt for talent in Tokyo, but recruitment levels are too low to offer much hope to redundant i-bankers seeking sanctuary in the sector. Citigroup, UBS and Société Générale are among the most active in the fledging Japanese jobs market, although the scale of their recruitment pales in comparison [...]
Equity slump hits hiring
Hiring freezes, shrinking bonuses and ailing equity markets? It’s a tough time to be in equity sales or trading in Tokyo. Massive falls in the benchmark Nikkei N225 (Reuters), coupled with global cost cutting, have taken their toll on banking sector hiring. Jeremy Sanderson, CEO at Icon Partners, says hiring levels in equity derivative sales, [...]
Sales skills vital to securing an asset management job
Asset management firms in Japan are on the hunt for product specialists with sales experience, but recruitment in the sector is looking shaky as the stock market slumps. Japan has traditionally been isolated from the rest of the world in terms of job functions within asset management, says Gregory Toole, a director at recruiters Hudson. [...]
Risk recruitment runs dry
Thinking of doing something risky? You might want to think again. The message from Tokyo’s recruiters is that risk management hiring is flat. Ravshan Kayumov, a financial banking consultant at Legal Futures, says he has fewer than 10 risk-related jobs at present compared to 25 or 30 a year ago as banks opt for internal [...]
Tax reforms may create more expat banking jobs
Tokyo’s over-taxed i-bankers need a break. And thanks to Japan’s dire shortage of skilled foreign workers, a break might be on the horizon. In 2006 just 158,000 of the 2.08m non-Japanese residing in Japan were categorised as skilled workers. Coupled with Japan’s declining birthrate and rapidly aging society, these stats last week prompted the Japanese [...]
Asia not immune from Morgan Stanley’s axe
Morgan Stanley bankers who were hoping John Mack would take pity on them again this year are due to be disappointed. And Asia is no safe haven from the global carnage. Last December Mack raided the coffers to stump up a 5% increase in average compensation for 2007 over 2006, but he now appears to [...]
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