Hays Banking
January - March 2012
CHINA Hotspots
Candidates with relationship management, business development and credit analysis skills will be sought this quarter as banks look to strengthen their existing relationships with clients and develop new business. Traditional industry, real estate direct investment and fundraising candidates will also be in demand.
Investors are now turning to the China market following deteriorating conditions in Europe and America. This is fuelling the need for experienced professionals across consumer, energy, technology, media and telecommunications and financial services. Other hotspots included manufacturing and private equity.
Foreign banks in China are shifting their business focus from traditional lending to other product ranges including investment management, insurance and cash management following tougher credit control policies.
Overcoming skills shortages
Employers are offering competitive packages to secure experienced candidates while others are resorting to up skilling their existing staff. They are more open-minded towards candidates with solid industry background, or those who have gained experience working overseas.
To this effect, they are willing to look outside China to source these skills; however language still remains a barrier. Therefore souring channels are primarily limited to candidates from Taiwan, Hong Kong and Singapore.
The coming quarter
This quarter Relationships Managers from junior to senior levels will be in demand with a number of permanent jobs being created. Employers plan to hire more industry candidates to maintain as well as expand their business.
They will continue to cast the net wide and look overseas when local candidates can't be sourced which means there will be plenty of opportunities for those interested in pursuing a career in China's banking industry.
Executive recruitment
A moderate number of Directors, Partners or other high level candidates with a strong knowledge base in capital raising and solid investment background in industry will be sought.
Employer trends
Employers are looking to recruit from industries outside of banking, including candidates from top-tier universities or those with industry backgrounds in private equity companies.
As salaries increase for senior management to new levels, salary tax is becoming an increasingly important concern for these particular candidates. As a result, over the past few months we have seen some lobbying between banks and the tax bureau on tax exemption for some of their senior management level employees. We see that banks are more open to lobbying for their employee benefits.
Candidate trends
We have noted an increase in candidate levels and a rise in interest from overseas candidates keen to gain experience in China's markets. This includes candidates from European banks. This certainly presents an opportunity for employers to recruit candidates from their European competitors.
