ReleaseWire Connect

Financial crimes are on the up and financial institutions are reacting to this by expanding their teams in both anti-money laundering (AML) and counterterrorism funding financing (CTF). Looking ahead, as we approach year-end, organisations have already started the planning process when it comes to hiring business-critical talent. Plus, thanks to renewed budgets there is set to be a rise when it comes to on-boarding any prior headcounts that they were previously placed on hold. As the leading specialist recruiter for banking and financial services careers in Hong Kong, Selby Jennings have indicated that the first half of 2021 will make way for a mini-boom in the talent landscape.

The promise of numerous successful vaccines as well as effective therapeutics being available to the mass market in early 2021 has generated an increase across hedge fund sectors. There is expected to be a significant spike in hiring for this sector because of pandemic related market volatility. This is especially true for hedge funds, which resort to impenetrable and complex strategies when it comes to their quest for gains.

The Hong Kong General Chamber of Commerce (HKGCC), recently unveiled its 2021 economic forecast – envisaging real GDP growth of around 3.5%. Moreover, throughout Hong Kong and, more broadly North Asia additional opportunities are also on the horizon. Mainland China has given clear signals indicating its interest in opening a key financial services sector to foreign investment. One example of this is China's wholly foreign owned enterprise (WFOE) rules, allowing foreign investors to further capitalise on growing investor demand. But what does this mean for financial services careers in Hong Kong? As leading recruitment specialists within this field, Selby Jennings predict that this WFOE will yield results across several international banks within Hong Kong which will seize on the opportunity to take either a majority share or a wholly owned stake in their onshore China securities and asset management businesses.

One key takeaway from 2020 is that change is and continues to be the new constant, and when it comes to countries such as Hong Kong, this type of change should help create the birth of a new global power centre. As we look ahead into 2021 and beyond Hong Kong looks perfectly placed to become an international business and financial hub with high-speed communications, free flowing information and capital, and a low and simple tax system. From wealth management to fintech, a raft of new initiatives are all set to strengthen Hong Kong's role as an international financial centre.

Despite the pandemic Hong Kong still remains a vital hub when it comes to financial services careers. As China still has a vast shortage of executives with the specific backgrounds or experience to manage funds or run businesses for foreign firms, it has resulted in Hong Kong remaining as an important focus in terms of the mind-set of many asset managers who will want to grow their business in China.

2020 marked an eventful year which saw some of the toughest social, economical and political challenges in recent times. But as we embark upon a new year eyes are fixed on emerging markets and the Asia region looks on track to reopen.

As we head towards the holidays and the new year is fast approaching, many businesses are looking to lock down talented professionals before the year ends. There are exciting opportunities for financial services professionals who are searching for their next career move in the financial services industry in Hong Kong.

Corporate and investment banking professionals play a vital role in ensuring Hong Kong’s economy remains in the red and out of the black. Without the sector we would be unable to deposit, invest and borrow money. Businesses across Hong Kong and Asia rely on investment banks to succeed. Banks, insurers and asset managers are on the hunt for bright-minded professionals who can take on a role with immense career growth opportunities and challenges.

A career in corporate and investment banking involves working with a wide range of companies and clients from small start-ups to global powerhouses. You will have the opportunity to advise Hong Kong citizens on the best way to invest their money and help them achieve the financial goals they have dreamed of.

Look no further than Selby Jennings for all your recruitment needs for the financial services industry in Hong Kong.