Chinese institutions drive demand for talent with regulatory experience

Candidates with regulatory experience will be a hot commodity in Hong Kong this quarter. The drive is led by newly launched securities houses by Chinese investors and the expansion of Chinese bank branches.

This is one key finding from the latest Hays Quarterly Report, for the October to December quarter, which identifies key trends in the job market.

Largely as a result of the aggressive expansion by Chinese institutions in Hong Kong, increasing demand for cross-border trade and investment deals means there are huge opportunities for candidates in this area.

It's recognised that Hong Kong, as a dominant offshore RMB centre, is seen as an ideal marketplace for Chinese banks and securities companies to internationalise their businesses. It is a market with different regulatory frameworks than the mainland. In order to ensure a smooth running of their Hong Kong businesses, Chinese firms will continue to actively seek professionals understanding local rules and laws.

As wealthy Chinese people look to diversify their assets, allocating part of their money to overseas markets, the asset management segment in Hong Kong is expected to grow by leaps and bounds. A rising number of asset management businesses and an influx of Chinese capital will result in heightened hiring activity of capable finance professionals. Candidates with reporting and project experience are preferred by banks amid increased standards and rules imposed on financial institutions.

Information technology is another sector that will see strong hiring in the quarter as companies put emphasis on security and risk. High-skilled candidates will not only be sought after by financial institutions, but also by non-financial companies because of the increasing importance of risk management.

Companies are facing pressure from regulators to ensure robust risk management and compliance frameworks. This is going to benefit experienced professionals who will likely receive multiple offers as competition for the right talent escalates.