People Moves

Average Banker Seeks 25 Per Cent Pay Rise To Move Jobs - Recruitment Specialist

Chrissy Coleman Asia Correspondent 13 March 2013

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Attracting and retaining talent is likely to be a key challenge for employers in 2013, a recent survey by professional recruitment consultant, Robert Walters has found.

Attracting and retaining talent is likely to be a key challenge for employers in 2013, a recent survey by professional recruitment consultant, Robert Walters has found.

The 14th edition of Annual Global Salary Survey, said generally speaking, the Hong Kong economy has stabilised and is on track for a more solid recovery, which will see increased hiring in the coming quarters.

To gain a deeper insight into the recruitment environment of the private banking industry in Hong Kong, WealthBriefingAsia conducted an email interview with John Mullally, associate director, financial services, Robert Walters Hong Kong.

What is the general feel for hiring and salaries in the private banking and wealth management industries in Asia?

The demand from front office revenue generating employees within private banking and wealth management continues unabated. We won’t however see too many of the headline team moves or banks seeking to build out entire private banking businesses. Much of that hiring was completed by 2011. However, if these firms are presented with a relationship manager who can bring revenue with them [clients] then they will be hired. Salaries within this space have stabilised for the most part; however, as is always the case, top performers will be able to command a premium from their current and/or prospective employers.

At what levels are most of the hires being made?

Senior relationship managers, vice president level and above. There is not nearly as much junior hiring as there was two years ago.

Are the available roles newly created positions or inter-company moves?

Generally they are new positions as firms try to increase their footprint in the region.

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