Are you looking for a job at a global bank in Asia? You may want to apply to firms that are currently focusing a comparatively high proportion of their recruitment efforts on the region.
We’ve searched through the careers website of several large banks to work out their Asia Pacific (ex-Japan/India) vacancy numbers as a percentage of the total jobs they are advertising globally.
The results reveal that Standard Chartered, with a score of 83%, is the most Asia-centric bank in terms of recruitment by a considerable margin. Although headquartered in London and currently in the process of eliminating 15,000 jobs, Stan Chart still generates around 75% of its revenue from Asia and has more than 600 regional openings. In Singapore it is concentrating on finance, technology and compliance hiring.
Another British bank with large Asian operations, HSBC, comes second in our table with 52% of its vacancies in Asia Pacific (ex-Japan/India). HSBC plans to add 4,000 jobs in China’s Pearl River Delta region over the next three to four years, even as it trims its global workforce.
Barclays, which is drastically reducing its Asian operations and focusing on its core UK market, sits unsurprisingly as the bottom of the table with a mark of just 1%.
The top six banks, however, are all from Europe. Credit Suisse – the third-ranked bank – is pivoting its business towards Asian wealth management and wants to hire 270 new private bankers by 2018.
Even Deutsche Bank is a relatively active recruiter in Asia, despite its plans to cull about 9,000 jobs globally. While some of its Asian vacancies are in the Philippines, it also has about 115 openings in Singapore alone.
Five American banks are in the bottom half of our chart partly because they have hundreds of US corporate, commercial and investment banking openings which force down their Asian vacancy percentages.
Both Citi and J.P. Morgan still have more than 500 APAC jobs advertised. And while Bank of America is cutting senior bankers and traders in Hong Kong, it continues to hire for roles such as IT and compliance in Singapore.
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