Hays Banking - July 2010

Hotspots

With the rapid growth in China, there are a lot of Chinese companies wishing to go public. M&A activity is also on the rise. This is creating demand for corporate finance advisory candidates, from Analyst to MD level with China transaction experience.

The weak European market may have some impact on China exports, but this will not be felt in Hong Kong due to continuing inflow of capital from west to east. Due to this inflow, and increased corporate finance activity we are predicting increased trading activity in equities and also in money markets.

Until now many banks have attempted to head hunt and network themselves however as the candidate market tightens they will begin to use a recruitment agency.

Coming quarter

There will be steady activity at least until the end of August. While debt capital markets are still going through a recovery phase, equity capital markets will continue to attract quality candidates. The volatility in money and credit markets, better risk/return rates and relatively easier capital funding requirements in Asia will keep candidates interested in high yield revenue roles within Fixed Income and Treasury.

Many candidates will also have the opportunity to discuss business growth opportunities with employers while steering their career development in the right direction.

Employer trends

Revenue growth and market penetration is on every bank's agenda and candidates with strong local and regional client networks together with a previous track record in revenue generation will be in most demand.

However, with candidate numbers tightening, banks are again considering experienced candidates outside of Asia. They are also shortening the recruitment process and for top candidates they are putting an offer on the table inside very short time frames.

Candidate trends

The increased hiring has led to a definite shortage of skilled candidates in the local market.

Candidates who moved into their current job during the market lows and those with disappointing bonus cheques are active.