Hong Kong keeps hiring grip on bankers despite rising costs

Hiring mandates for private equity, property, and venture capital rose 40%.

Hong Kong is still considered an attractive destination for portfolio managers and investment bankers despite rising costs and its reputation as being one of the most expensive cities to live in, senior headhunter Abimanu Jeyakumar of Selby Jennings told the South China Morning Post.

According to Jeyakumar, the city remains a “key focus” for candidates, including ones based in other major financial centres, such as London and New York. Despite a bumpy fourth quarter for banks as Asian markets fell sharply last year, salaries and new offers have not declined, but remained flat.

However, hiring mandates for jobs in private equity, real estate, and venture capital at Selby Jennings went up by more than 40%. Hiring mandates in wealth management rose 20%, whilst in global markets sales and trading, the figure went up 10%.