HSBC, Standard Chartered, Citi: they are arguably three of the Western banks most entrenched in the Asian region. The first two generate most of their profits from Asia, while Citi employs more people in Singapore than any other foreign bank.
But which of them has the most vacancies for job seekers in Singapore right now? And in which functions?
To find out we trawled through their Singapore careers websites and allocated their advertised roles into the eight broad job sectors. We excluded retail banking, general management, contract, shared services and administrative positions (as well as M&A and capital markets because none of the banks currently has openings).
For each sector, we then worked out the percentage of vacancies for each bank to produce the table below. In operations, for example, 42% of jobs among the three firms are at Citi.
Overall, the results show that HSBC – which has a much larger presence in Hong Kong than in Singapore – lagging its two rivals by a considerable margin.
More interestingly, Stan Chart has slightly more roles across the eight sectors than Citi, despite its continuing drive – announced in November 2015 – to eliminate about 15,000 jobs globally.
Only last week it laid off several MDs in the Republic, but our chart highlights that it is still hiring in most areas, with the exception of research, sale and trading roles.
Stan Chart, for example, boasts 58% of risk, compliance and legal job openings across the three firms. The middle-office hiring spree it began in 2014 (in the wake of massive regulatory fines) has clearly not come to an end, although many of these vacancies will be to replace staff who have left.
However, Stan Chart’s big technology build-out in Singapore (it aims to hire 300 people this year) appears to be winding down, because it is Citi that surprisingly dominates (62%) tech hiring.
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