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Morning Coffee: New brokerages set to hire in Hong Kong?  

through  train

Here’s an additional sign that the launch of Shanghai-Hong Kong Stock Connect next week will create new finance jobs in Hong Kong: property experts in the city say that “finance firms” (read, small brokerages) are likely in the long term to take more office space in the city because of the deal, reports the South China Morning Post.

A “handful of PRC securities companies” are already looking to set up representative offices in Hong Kong, Denis Ma, head of research at JLL in Hong Kong, told the SCMP. Craig Shute, senior managing director, Hong Kong, Macau & Taiwan at CBRE, added that the new firms would initially have small space requirements but could grow if their business expands on the back of the so-called “through train” scheme.

As we’ve reported, the programme has also led to a short-term surge in equities-related hiring at larger banks, in particular BNP Paribas and Standard Chartered. Banks have also had to hire in IT and compliance in order to be ready for the regulatory and technology requirements of Stock Connect.

Meanwhile:

Levin Zhu is “taking a break” after leaving CICC. (Bloomberg)

Pay rise for ANZ boss, but bank misses gender target. (Sydney Morning Herald)

Standard Chartered plans 100 branch closures. (Financial Times)

Singaporean employees are confident about their job prospects…(Human Resources)

…but they’re “under happy”. (Today)

Andrew Swan, head of Asian equities at BlackRock, gives his outlook on Asian equities. (Asia One)

There’s a bonds boom in Singapore. (Business Times)

UOB wins at ASEAN Business Awards. (Channel News Asia)

JPMorgan recruits former Australian Prime Minister. (Business Insider)

Don’t underperform if you work at Axis Bank. (Economic Times)

You can apply for a Lee Kuan Yew Scholarship from tomorrow. (Asia One)


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