Banks in Hong Kong and Singapore may be trying to localise their junior and mid-level ranks, but Western expats are still often in favour for top financial services jobs Share on twitter. There’s generally less need for senior managers to speak Mandarin if their role is strategic rather than client-focused, and the local-advertising requirement in Singapore’s Fair Consideration Framework doesn’t apply to jobs paying over S$144k.
BNP Paribas has, for example, recently promoted Australian Wayne Green, currently head of loan syndications for Australia at the bank, to head of loan syndication and loan sales for Asia Pacific. He will be based in Hong Kong from January and replaces Didier Leblanc, who is leaving the industry after 18 years to move to the US. His appointment comes as BNP continues “its push from Australia into Asian markets”, reports Banking Day. The French firm announced in February 2013 that it wanted to hire 1,300 people in Asia by early 2016. Rival Societe Generale is also expanding its Asian headcount.
In another recent expat appointment in Hong Kong, Roy Gori, Citi’s head of consumer banking for North Asia and Australia, and its regional head of retail banking for Asia Pacific, is joining Manulife Financial Corporation to lead its Asia operations.
Westpac becomes latest bank to open in Shanghai Free Trade Zone. (South China Morning Post)
Prominent businessman Koh Boon Hwee appointed independent director of Pictet’s private bank in Singapore. (Straits Times)
Why Deloitte thinks next year will be a “turning point” for the Malaysian banking sector. (Asia One)
HSBC appoints first local chief executive officer for Vietnam. (Tuoitre News)
Hong Kong shares in dual-listed mainland firms are trading at deep discounts to their onshore versions. (South China Morning Post)
Fintech start-ups pitch their ideas to bankers in Hong Kong. (Finance Asia)
China starts making the food beloved by Western bankers. (WSJ)