Latest articles
Survival of the specialists: How HR professionals can keep their jobs
Yes, redundancies have hit banking support functions like human resources fairly hard in Asia. Yet, it’s not all doom and gloom – pockets of recruitment remain, especially for specialised roles. Ronald Bastyr, practice leader, human resources, The MRI China Group, Hong Kong, says: “There have been some cuts at the middle, VP level. There have [...]
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Daily Dispatches: Bank of America really wants mainland bankers
Bank of America will expand rapidly in China after mainland profits doubled. (Bloomberg Businessweek) HSBC discontinues HSBC Premier service in Japan as part of a broader move to retreat from private banking there. (Reuters) For all the hedge fund gloom, new Asian hedge funds have actually raised their highest amount since 2007. (Bloomberg Businessweek) But [...]
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Daily Dispatches: Family offices are about to get very big in Asia; Lazard gets a new i-banking head
A boom in family offices is expected in Asia – particularly in Singapore. (Channel NewsAsia ) Lazard finally hires Glenn Porritt to head up its Singapore i-banking team, 18 months after the position was left vacant. (FinanceAsia) Asian hedge funds are looking like a grim place to be in after several funds closed or shrank. [...]
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Why it’s so important to talk to recruiters face to face; and how to go about setting up a meeting
You send your CV to a recruiter, you wait, you don’t hear back, or you only get a brief phone call or email. But what you really want is the chance to talk in detail about your career with a real-life person, perhaps over a nice coffee. Here’s our guide to making your candidacy stand [...]
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Fancy a 30 per cent wage increment even in this market? Here’s where you need to be
China continues to lead Asia in terms of its ability to dole out hefty salary increases. A recent Hays salary report shows that 51 per cent of mainland employers gave increments of six to ten per cent. That generosity is even more pronounced in the banking sector with most employers willing to pay 15 to [...]
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Daily Dispatches: Front-office bankers are getting skinnier bonuses in Asia
Front-office staff in Asia who have performed well can expect one to four months of bonus if they’ve performed well. That’s down from the previous year’s two to six months. (Channel NewsAsia) US asset manager Eaton Vance obtained its license to manage funds in Singapore. (AsianInvestor) Citigroup has a new head for its Japanese markets business. (The [...]
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Redundant traders take note: here’s a potential lifeline
Even as firms lay off staff, there are still signs of life in the financial recruitment landscape. Yuan trading for instance is seeing some growth. Recruiters say bankers with yuan experience are sought after, especially in Hong Kong, Shanghai and London, reports the South China Morning Post. Already RBS, HSBC, ANZ and Standard Chartered have [...]
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Daily Dispatches: Even bank CEOs aren’t immune to shrinking pay
Bank of America CEO Brian T. Moynihan got a salary freeze and no cash bonus. Other top bankers like Morgan Stanley’s James Gorman received a 25 per cent pay reduction while J.P. Morgan CEO Jamie Dimon’s compensation stayed the same. (Washington Post) Thanks to bonus reductions, bankers are now re-evaluating their spending on needs instead [...]
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If all else fails, become a recruiter: This and four other tips to save your career after a redundancy
A steady stream of investment banks in Asia have announced redundancies in the past few weeks. Most recently UBS axed research and IT positions, CICC laid off 30 bankers in Hong Kong and Beijing, while Macquarie has reportedly slashed 10 per cent of its investment banking team in Asia. So what’s an unemployed i-banker to [...]
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Daily Dispatches: Malaysia’s second largest to buy over RBS’ assets Down Under
Malaysia’s CIMB will reportedly purchase Royal Bank of Scotland’s Australian equity operations for US$50 million. (Reuters) Chinese joint venture ICBC Credit Suisse Asset Management is scouting for talent as it gears up for its Hong Kong launch. (Asian Investor) Retirement fund Canada Pension Plan Investment Board, has appointed former Goldman Sachs banker Mark Machin as [...]
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