More good news for equities trading jobs (and the compliance and IT roles that support them) in Hong Kong: the territory’s Chief Executive Leung Chun-ying has said he wants to get the delayed Shanghai-Hong Kong Stock Connect deal up and running as soon as possible.
His statement follows the announcement earlier this week that Bank of China, BNP Paribas, China Construction Bank, Citibank, HSBC, ICBC and Standard Chartered have been appointed as primary liquidity providers for offshore yuan business in Hong Kong – another sign that the mutual market access scheme is set for an imminent launch. Recruiters predict a short-term spike in equities-related jobs as a result of Stock Connect.
Predictable enough, Leung also warned that the Occupy Central protests could damage the city’s role as a global banking hub. So far recruitment in the banking sector has been largely unaffected by the disruption, although headhunters there have warned of a hiring slump early next year if the protests don’t die down.
Separately, Tom Welsh, one of Hong Kong’s leading veteran bankers has resigned from his position as global head of equity syndicate at Standard Chartered. Anuruk Karoonyavanich, previously head of Southeast Asia ECM is replacing him, reports Finance Asia.
Ex-banker says Singapore is too dependent on the financial sector. (Business Times)
Staffing costs rise at Hong Kong Exchanges and Clearing. (South China Morning Post)
Banks make plans to celebrate Singapore’s 50th birthday. (Channel News Asia)
Employers in Asia failing to meet staff career expectations, says Kelly survey. (Asia One)
SGX blames power cut for trading glitch. (Straits Times)
Behold Singapore’s “integrated system of education, training and career progression for all”. (Today)
What India can learn from DBS. (Economic Times)
Clearstream and Standard Chartered launch collateral management service for Singapore. (Hedge Week)
ICICI celebrates new branch launch with “blood donation camp”. (Economic Times)
What we know about Jutting’s victims. (Time)