Thursday, April 21, 2011

eNewsletter: China banks are casting their nets extra wide to grab regional talent

eFC.com
Hiring and pay trends in banking, finance and securities 21 April 2011
TOP STORIES
When talent's short and (getting) expensive, mainland banks shop overseas
Bankers in China are in a rather enviable position, especially for those with at least a decade's worth of experience under their belt. Increasingly, mainland bankers are now calling the shots when it comes to compensation.
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Threaten to quit and you might get promoted, just ask UBS
Looking to get promoted? Instead of trying to win over your boss, you could always walk. Look no further than UBS's Sam Kendall, who wanted to jump to Bank of America Merrill Lynch. UBS counter offered, promoting him to head of ECM for Asia and he's now staying put.
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The Candidate: When should I mention money during my job search?
What is the best time to discuss your salary expectations during the hiring process? When recruiters contact you about your interest in a role, they inevitably have two questions: What is your current salary? What is your expected salary?
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What's next for laid-off staff at Mizuho Securities in Singapore?
Redundancy by any other name is just as ugly. 13 staff from Mizuho Securities' Singapore prime brokerage business lost their jobs after the loss-making unit was shut down earlier this month. So what's next for these redundant staff, some of whom were ex- Lehman Brothers?
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So many Chinese billionaires; not so many Chinese private bankers
China is home to an increasing number of high and ultra-high-net worth individuals, including 115 US dollar billionaires, but its private banking sector remains underdeveloped. Relationship managers are in short supply and demand for their services is gradually starting to rise, despite restrictions on private banking platforms in China.
Read more...
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