Out of the world's leading financial hubs, Hong Kong appears to have weathered the storm most successfully. Now, financial institutions here can be a guiding light and show the rest of the world how to navigate these dark and choppy waters. What is the current hiring situation in the financial services market?
Private Banking & Wealth Management
Travel restrictions, particularly for the China market, spark a unique opportunity for bankers to find new opportunities this year. We expect banks’ clients to remain sticky with their current relationship managers (RM) when they change banks – typically their bank will look to fly several RMs out to try to recuperate the client’s account. However, with no travel to or from China currently, it will be difficult for other bankers to establish this connection.
Investment Management
Due to the Covid-19 outbreak, most global investment management firms abruptly froze their hiring processes. We see a gradual thawing out of these hiring freezes as global markets fight to return to normality in the second half of 2020. Given the ferocity of the global equity market rebound, we see asset management as the first industry to return to normality, followed by private equity, and then hedge funds.
Quantitative Research and Trading Technology
Considering the current pandemic, companies are realising more than ever the importance of technology. Digitalisation is becoming a huge priority for all our clients, and those that are not adapting are getting left behind, which has meant a huge demand for top technology talent.
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