Malaysia RHB Bank will expand its Singapore business three-fold in the next two years by focusing on the SME (small and medium enterprise) business, wealth management as well as corporate and investment banking.
Singapore’s Business Times reports that RHB Bank Singapore will double its staff complement from the current 500 to 1,000 by 2016.
Global financial talent is increasingly looking to relocate to Shanghai as the city offers faster salary growth and wider career opportunities than Hong Kong, despite high taxes and quality-of-life concerns.
According to British recruitment agency Hays, 66 per cent of mainland employers increased salaries at least 6 per cent last year, compared with only 17 per cent of companies in Hong Kong.
A Hays survey of 2,600 employers across Asia also found that 67 per cent of mainland companies said they would give employees a pay rise this year, compared with just 17 per cent in Hong Kong.
Asia Insurance Review reports that Euler Hermes, which provides trade credit, is expanding its services in Asia Pacific with the addition of a specialised single risk and political risk insurance team based in Singapore
The Wall Street Journal reports that more people moved from China to the US last year than the other way around, the first time this has happened since the trend started being measure in 2006.
The move of household goods into China fell 10% in 2013, the largest drop in more than a decade.
A new survey of America’s best ranked employers among listed companies by Glassdoor revealed that Twitter was the most popular place to work, with LinkedIn and Facebook also in the top five, reports Bloomberg.
Insurance broker JLT Asia has bought Lambert Brothers to tap into growing demand for independent advice on employee benefits, reports Finance Asia.