Thursday, October 24, 2013

New asset management opportunities opening up in China

NEWSLETTER OCTOBER 2013 Online version
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~ 24th October 2013 ~
11 Chinese banks where you can get an asset management job
Hello ,

This week we have a look at how China's liberalisation of its financial services sector is creating new opportunities in asset management and we examine how the practice of hidden benefits is making life difficult for foreign recruiters.
 
NEWS
11 Chinese banks where you can get an asset management job
The Chinese authorities have extended permission to 11 local banks to start running credit financing and asset management businesses on a trial basis, in a move that should spur hiring to staff up these new functions.
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Foreign banks usurped in China by local firms paying cash in hand and arbitrary bonuses
Foreign banks in China and other parts of Asia are struggling to attract candidates, due to local institutions' practice of paying additional cash in hand to their employees.
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Battle lines are drawn for RMB traders in Asia
The launch of the Shanghai Free Trade Zone may pose a threat to Hong Kong's status as the world's leading renminbi trading hub, with banks setting up in the zone likely to poach RMB specialists from their rivals in the special administrative region.
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The sector where firms are still fighting for investment bankers
Investment banking hiring in Asia Pacific so far this year has generally been a dull, sporadic affair, with even Hong Kong and Singapore providing scant opportunities for Western bankers looking to relocate. But there is a sector within Asian IB where experienced rainmakers are still shifting between global banks with relative ease: FIG.
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