查看完整版本 : 仲有咩Finance firm請人?

亞洲冠軍中國 2020-7-9 10:44 PM

仲有咩Finance firm請人?

The firms in the table below increased their Hong Kong workforces by the greatest number of people in the 30 days to June 27, according to data taken from the Securities and Futures Commission’s (SFC) Public Register of Licensed Persons and published in the FinMovers newsletter from i-quant.ai. The numbers only include investment professionals who are on the SFC database, hence the high proportion of buy-side institutions.

However, it is a large bank, Bank of America (technically listed on the register as Merrill Lynch), that tops the table, with its SFC-licensed staff levels rising by 18 in the course of a month. Many banks in Hong Kong, including HSBC and Standard Chartered, have frozen non-critical hiring, so BAML and Macquarie Capital are the outliers on the FinMovers table.

Two hedge funds, Citadel and Millennium Capital Management also added more front-office people than they lost, with their headcounts both rising by six. That’s a 35% increase in Citadel’s case. The SFC figures support comments made by recruiters on this site last week that hedge funds are [url=https://news.efinancialcareers.com/hk-en/3004016/hedge-fund-jobs-singapore-hong-kong]not cutting Hong Kong jobs[/url], despite the political turmoil triggered by the national security law.

Meanwhile, Polymer Capital Management continues to build in Hong Kong after about 18 months of operating. It added four people in the four weeks to June 27. The Asian equity-focused hedge fund was launched in January last year by PAG and CEO Angus Wai, and has since been hiring from the likes of Schonfeld and Point72.

Away from the hedge fund sector, the table shows that Avenue Family Office and SHK Online (Securities) also have more people listed on the SFC public register than they did a month ago.

[url=https://news.efinancialcareers.com/hk-en/3004060/finance-firms-adding-headcount-hong-kong?utm_source=APAC_HK_ENG&utm_medium=EM_NW&utm_campaign=JS_HK_EDI_WEEKLY]https://news.efinancialcareers.com/hk-en/3004060/finance-firms-adding-headcount-hong-kong?utm_source=APAC_HK_ENG&utm_medium=EM_NW&utm_campaign=JS_HK_EDI_WEEKLY[/url]

亞洲冠軍中國 2020-7-9 11:46 PM

For now, however, finance sector insiders say the UK’s poorly performing economy along with its high rates of tax and Covid-19 make it an unattractive destination for Hong Kong finance professionals, many of whose careers are strongly tied to Asian markets and clients, meaning they might struggle to find good jobs in London.

“I haven’t heard about anyone in my circle even talking about moving out,” says a local HSBC banker. “The UK settlement offer is interesting, but I don’t think an exodus of locals will happen in this sector,” says another senior employee at HSBC. “And there’s also a counter trend: I’m seeing more returnee candidates coming back to Hong Kong from the US and Europe, mainly because the Covid situation is so much worse there,” adds Will Tan, managing partner at search firm Principle Partners.

Hong Kong GDP could [url=https://www.scmp.com/business/markets/article/3091056/hsbc-citibank-predict-hong-kongs-economy-will-contract-5-cent-year]shrink by 5% in 2020[/url], but the UK is set for an 11.5% economic contraction, the [url=https://www.theguardian.com/business/2020/jun/10/uk-economy-likely-to-suffer-worst-covid-19-damage-says-oecd]worst slump[/url] of any OECD country. There are renewed fears that a [url=https://www.independent.co.uk/news/uk/politics/brexit-no-deal-eu-boris-johnson-wto-peter-mandelson-trade-a9595406.html]‘no deal Brexit’[/url] might inflict further damage on the economy in 2021 and beyond. Hong Kong finance professionals arriving in the UK would also find themselves in the midst of a Covid-19 crisis on a scale almost unimaginable back home. The UK has registered 647 Covid deaths per million people, [url=https://www.worldometers.info/coronavirus/#countries]compared with 0.9 per million[/url] in Hong Kong. Then there’s the tax: Britain has a top rate of 45%, while Hong Kong’s [url=https://www.gov.hk/en/residents/taxes/taxfiling/taxrates/salariesrates.htm]highest band is 17%[/url].

For finance professionals, these stark contrasts (combined with ongoing family and personal commitments to Hong Kong) are trumping any concerns about the security law for now. Moreover, recruiters say the job market in Hong Kong will recover more quickly than in London, and that new UK arrivals will be disadvantaged when looking for work. “Any Hongkonger who moves will be in for a shock if they think the UK is the land of milk and honey and abundant finance jobs – and that’s even before accounting for the tax rates,” says Warwick Pearmund, an associate director at Hamlyn Williams. “I haven’t even heard of one person considering moving,” he adds.

Abimanu Jeyakumar, head of Selby Jennings for North Asia, says his firm has received no enquiries from Hong Kong citizens about relocating to London since the UK government first mooted a resettlement scheme in May. But this could change if Hong Kong’s political and economic climate takes a turn for the worse. “The situation is ever evolving, and I believe lots of financial services professionals in Hong Kong will wait and see what happens,” he adds.

Vince Natteri, director of headhunters Pinpoint Asia, agrees: “While many Hongkongers are renewing their BNO passports, this is in case of something more catastrophic happening here. A lot will depend on how things unfold in the next few months. So far, we haven’t heard of anyone planning a move to London, nor banks offering jobs there, because the UK has its own problems with Covid and Brexit,” he adds.
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