eFinancialCareers

Forget the US bulge bracket – Australian private banks are the new kids on the block in Asia, and they’re hiring voraciously. Macquarie Bank launched its Asian private wealth business in Singapore in March this year to target the booming regional market. National Australia Bank is also aggressively expanding in Asia, says Sicilia Lim, a senior consultant at recruiters Robert Walters. Lim says the Australians and other new niche... Read more

ANZ may be in a mess back in Melbourne, but in Singapore it’s looking for local talent to kick start its new commodities division. The Aussie firm will face competition as the recruitment market heats up for specialist traders with Asian expertise. The bank, which is considering job cuts in Australia, has opened a commodities trading desk in Singapore as part of its plans to expand Asian operations. “We already... Read more

Now may be a good time to get your CV to Deutsche Bank – especially if you work for Citigroup. A major recruitment drive is expected at Deutsche in Hong Kong as the German giant gears up for its third-quarter 2010 move to Kowloon’s International Commerce Centre. And Citigroup high fliers could be top of its hit list. Alice Liu, a director at search firm Pelham, says Deutsche has... Read more

Australian private banking recruitment looks set to keep rising on the back of a growing and largely untapped potential client base. And the senior openings aren’t only for those already working at a private bank. David Hewett, general manager of St George’s private bank, tells us that many of the 160,000 Australians with more than AU$1m in assets-to-invest don’t realise they qualify for the private treatment. “Private banking is certainly... Read more

Financial control, largely staffed by qualified accountants, is emerging from the shadows, as the bulge bracket tightens its collective belt in the wake of billion-dollar write-downs. Banks in Singapore have their sights set on ensnaring cost controllers from the Big Four accountancy firms. Think strategic partner, not number cruncher. Steve Parkes from Michael Page International explains why the geeks are suddenly chic: “The image of these people is on the... Read more

Chinese private equity is surging ahead – but don’t just expect a job on the back of the boom. Total funds invested in China grew to US$20bn in Q1 2008, up by almost 60% from the previous quarter, according to new figures from research company Zero2IPO. But while established Hong Kong-based professionals are spearheading the charge into China, bankers who’ve been laid off in London and on Wall Street... Read more

The overall Asian M&A jobs market has cooled down, but financial sector mergers are generating work for financial institutions group (FIG) bankers with expertise in the sector. While fewer corporate IPOs are taking place, Asian insurance companies and commercial banks are still looking for new acquisitions, says Matthew Phillips, head of PricewaterhouseCoopers’ financial services and M&A practice in China. This is generating M&A work for the investment banks and professional... Read more

Banks including JPMorgan continue to recruit in equity derivatives as the sector looks set to survive the credit crunch comparatively unscathed. JPMorgan’s Asian team has grown from five to 45 since 2003 and headcount will continue to rise to meet Indian and Chinese demand, according Ong Tsui Keng, the bank’s executive director for equity derivatives. Ong tells us: “The expansion came as a result of the need to cover... Read more

Macquarie is breathing some life into a generally dormant Japanese financial recruitment market. The Aussie bank, which took on 100 new hires in the second half of last year, is continuing its recruitment drive. Andrew Low, Asia head of Macquarie Capital Advisers, comments: “Japan is becoming an increasing focus and we are pleased to be able to attract senior people to match the quality of the opportunities we are... Read more

Cantor Fitzgerald has plans to further expand its headcount in Hong Kong and Singapore, following the opening of a new office in the Lion City. And it’s looking at the i-banks as a source of fresh talent. The US brokerage, which also employs about 50 people in Hong Kong, has taken on five Singaporean sales traders to service the hedge fund and asset management sectors. William Selig, Cantor’s Singapore managing... Read more

Searching for your M&A dream job on the back of the Aussie mergers boom? You could be in for a long wait. Bucking an international slump, US$59.6bn of M&A deals targeting Australian companies were announced for the first five months of 2008 – up 38% on the same period last year, according to Thomson Reuters. But this hasn’t created a jobs bonanza for M&A bankers. The employment market is... Read more

Smaller might be better when it comes to finding a fulfilling private banking role. More flexibility, less sales pressure and fewer country constraints are key draw cards of working for a niche player in Asia. Reto Isenring, Singapore managing director at VP Bank, which also has offices in Hong Kong, says relationship managers (RMs) at big banks often become “product sales machines”. He tells us: “Many of them get... Read more