HSBC, Standard Chartered, Citi: they are three of the Western banks most entrenched in the Asian region. The first two generate most of their profits from Asia, while Citi employs more people in Singapore than any other foreign bank.
But which of them has the most Singapore-based vacancies per job functions?
To find out, we searched through the banks’ Singapore careers websites and allocated their advertised roles into the 14 broad job sectors (excluding retail/branch banking) in the table below. For each sector, we then worked out the percentage of vacancies for each bank to produce the table below. In operations, for example, 18% of jobs among the three firms are at Stan Chart.
Overall, the results show that HSBC – which has a much larger presence in Hong Kong than in Singapore – is lagging its two rivals by a considerable margin.
Citi dominates hiring in most job functions right now. It is currently the only one of the three with front-office capital markets and global markets vacancies in Singapore, although roles at the other two firms may open up post-bonuses in Q1.
The US institution, which is the second largest wealth manager in Asia by assets, is also the main recruiter in Singapore private banking and wealth management.
Like their local rivals DBS, OCBC and UOB, both Citi and Stan Chart have large Singapore-based hiring requirements in technology and digital banking in 2017. HSBC, by contrast, bases more of its tech staff in Hong Kong.
Of the ‘big three’, Stan Chart is the bank with the most roles in corporate banking (54%) and risk (67%).
While compliance recruitment in Singapore is general down on last year, there are still ample roles at Citi and Stan Chart. Compliance headcounts may not be expanding, but banks still need to replace staff who leave in a sector which typically suffers from high turnover.
Image credit: NattapoomV, Getty