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Daily Dispatches – Employee branding comes to the fore in Singapore’s new recruiting regime

Brand building

The full legal implementation of Singapore’s Fair Consideration Framework in 2014 will make employee branding more important for firms looking to attracting the best local talent.

According to an article in Campaign Asia, companies will have to advertise for 14 days to a local audience, after which they may cast their net wider and search internationally if needed.

Beefing up employee branding and communication can help reduce what are expected to be protracted recruitment periods by targeting quality local candidates.

Aussie banks overpriced, says Goldman Sachs

Australian banks will continue to benefit from low bad debts and a recovery in credit growth over 2014, Goldman Sachs analysts have predicted, according to a report in the Sydney Morning Herald.

But the bank said sector appeared to be overpriced after the ASX 200 bank index surged 22% in the past year.

Deutsche Boerse to expand in Asia in 2014

Deutsche Boerse AG said it will focus on Asia for growth this year and that European policy makers should ensure the region remains competitive, reports Bloomberg.

“We will grow above all in Asia,” Reto Francioni, chief executive officer of Deutsche Boerse, said in a speech at the exchange’s New Year’s reception in Frankfurt.

London finance jobs dropping

Bloomberg reports that hiring at London’s financial-services companies could come under pressure this year as firms grapple with regulatory costs and fines tied to regulatory mis-steps, according to a recruitment firm.

Job openings in London’s main financial district, known as the City, and elsewhere in the British capital dropped 42% to 4,095 in December from 7,056 a month earlier, Morgan McKinley said in a statement today.

Citi says new foreign banks in Honk Kong will struggle to make inroads

Weber Lo, the country officer and chief executive of Citibank in Hong Kong and Macau says Chinese and Singaporean banks planning acquisitions of Hong Kong banks will  not find it easy to gain a foothold in the city because it is a very mature market, according to a report in the South China Morning Post.

The Big Five – HSBC, Bank of China, Standard Chartered, Hang Seng Bank and Bank of East Asia – account for almost 60% of the deposits in the city, according to a report from Goldman Sachs.

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