In some of my previous columns, I have shared techniques and personal experiences to help you succeed in job interviews. For this article, I will shift the focus onto the real working environment and list three key things you must be aware of when you start at a new bank, especially earlier on in your career. Good grades count for nothing once you’ve got the job There is no doubt in my... Read more
By Anonymous , 09 Sep 2010 - 0 comments
China has the world's fastest growing insurance market today. Just like in banking, its insurance industry also has a Big Four: Ping An Insurance, China Life, China Pacific Insurance and People's Insurance Company of China (PICC). A few days ago, Ping An Insurance posted a 28 per cent increase in its first-half net profit. Meanwhile, PICC Property & Casualty, China's largest non-life insurer, also reported net income surging to its... Read more
By Zhang Xiao Qing, 02 Sep 2010 - 2 comments
Banking IT professionals are in demand in China, but firms have high standards about the type of people they want to take on. Standard Chartered is, for example, hiring for roles including CSS technical managers and senior technical analysts. These jobs require not only a solid technical background, but also project management skills and an understanding of the bank’s business. Candidates must be able to provide solutions that can benefit Stand... Read more
By Jing Yan, 02 Sep 2010 - 1 comment
M&A professionals in Hong Kong are finally becoming more in demand as Asian deal making rises close to levels last seen in the pre-GFC boom. But because banks have recently been so focussed on ECM, they are now facing serious skill shortages in M&A. According to data tracker Dealogic, Asia Pacific companies have made US$132.7bn of offers for companies outside their home country so far this year, compared with US$142.7bn in... Read more
By Simon Mortlock, 30 Aug 2010 - 0 comments
Tianjin and Shenzhen have recently become important back-office locations as foreign banks expand in China. Firms such as HSBC, Standard Chartered, RBS and DBS are recruiting more back-office staff in both locations, mainly at junior to middle level. But the two cities have found themselves in favour for different reasons. “Tianjin is pushing its Binhai New Area to become a regional financial centre and the government provides favourable policies to attract financial intuitions.... Read more
By Leanne Wang, 26 Aug 2010 - 0 comments
If you’ve never applied for a job at a Chinese bank before, what should you watch out for? And how does the application and interview process differ from that of foreign firms? First of all, the large state-owned Chinese banks – such as ICBC and the Bank of China – do not typically hire externally for senior roles, preferring to recruit graduates and promote them until they reach management. However, commercial... Read more
By Raymond Ma, 26 Aug 2010 - 0 comments
Get made redundant in London, send your CV to Hong Kong, and hear nothing back – a familiar story in 2009. These days, however, Asian-market wannabes are having more luck finding work as recruitment rises in the region. But while talent shortages in certain sector mean banks are taking on more foreigners, the overall trend is localisation, says Nick Poole, executive director, Tiglon Partners Asia. “The education system is producing... Read more
By Simon Mortlock, 24 Aug 2010 - 0 comments
If last year saw a lending boom for the Chinese banking industry, this year’s theme is clearly capital raising. ICBC recently proposed a massive rights issue in both Shanghai and Hong Kong. Earlier this month, Agricultural Bank of China successfully listed on the Shanghai and Hong Kong stock exchanges, raising US$22bn. In fact, ICBC is the last among a fleet of major Chinese lenders to raise capital. State-owned rivals... Read more
By Zhang Xiao Qing, 19 Aug 2010 - 1 comment
China's Big Four banks have an average of about 20,000 branches each across the country. Agriculture Bank of China (ABC), for example, has more than 23,000 outlets covering nearly every rural district in the PRC. These networks create a large associated human capital cost because the banks also have to maintain tens of thousands of branch managers. Promotion, hiring and retention are all on a grand scale. But luckily for local banks,... Read more
By Jing Yan, 19 Aug 2010 - 0 comments
Priority, privilege, preferred (we’ll use the former): whatever you call them, these bankers are in high demand and short supply as local and international firms target the rising wealth of Asia’s middle classes. Banks are battling with each other for staff and when that doesn’t work, they sometimes even search outside the financial sector. “Recruitment is very busy at the moment for these revenue-generating roles. You can’t bring in foreign talent... Read more
By Simon Mortlock, 19 Aug 2010 - 0 comments
The Chinese banking industry has come under close scrutiny recently. Agricultural Bank of China’s dual listings in Shanghai and Hong Kong marked the world’s largest IPO. Days later, China Everbright Bank announced a potential US$2.9bn IPO. But it is not only retail and institutional investors who are attracted to Chinese institutions: potential candidates, from young graduates to senior managers, increasingly want to join their ranks. What is pulling them... Read more
By Zhang Xiao Qing, 29 Jul 2010 - 5 comments
"I am a business woman, running a small shop and I have limited connections with the government or big companies. HSBC provided me with a loan quickly, based on my strong understanding of my business and proof that it could generate good return,” says Liu Xiaoping, who is currently running the ‘Pregnant Mother and Baby Grocery’ shop in one of China’s many rural areas. China’s economic reform and opening... Read more
By Zhang Xiao Qing, 15 Jul 2010 - 3 comments
As you may already know, working at a bank is considered to be very prestigious in China. Rightly or wrongly, bank employees are generally recognised to be more intelligent, earn higher salaries, and enjoy higher social status. This is known as the “golden bowl” effect in China’s banking industry. Young Chinese graduates’ passion for the sector has shown no sign of decreasing, even amid the recent financial crisis and global... Read more
By Zhang Xiao Qing, 20 May 2010 - 3 comments
China has invested billions in its effort to transform Shanghai into an international financial centre (IFC). According to a recent study published by the City of London, a successful financial centre requires five fundamental elements: people, business environment, market access, infrastructure and general competitiveness. China already has many of the prerequisites to be an IFC: a robust economy, a strong government and a large pool of private financial assets. It... Read more
By Zhang Xiao Qing, 31 Mar 2010 - 3 comments
China has the world's fastest growing insurance market today. Just like in banking, its insurance industry also has a Big Four: Ping An Insurance, China Life, China Pacific Insurance and People's Insurance Company of China (PICC). A few days ago, Ping An Insurance posted a 28 per cent increase in its first-half net profit. Meanwhile, PICC Property & Casualty, China's largest non-life insurer, also reported net income surging to its... Read more
By Zhang Xiao Qing, 02 Sep 2010 - 2 comments
The idea of job hopping, especially if money is the main motivation, is more or less the elephant in the room that nobody in China's financial and banking industries wants to discuss. But, like their counterparts in more mature banking markets, young Chinese bankers now tend to shift jobs frequently, helped on their way by China’s rapid and robust economic growth. The latest report from PricewaterhouseCoopers shows that most... Read more
By Zhang Xiao Qing, 02 Jun 2010 - 2 comments
It was a busy December for executives from the Chinese banking industry. They travelled all the way to London, New York and Singapore to look for one special resource: top bankers. More than 18 financial institutions from China attended this international recruiting drive, including Bank of China, Shanghai Stock Exchange, CITIC Securities, CIC and CICC. In Singapore alone, the event attracted more than 1,000 candidates, competing for 117 jobs. Each... Read more
By Zhang Xiao Qing, 08 Apr 2010 - 2 comments
Lee Yuan is a 25-year-old graduate who has just entered Shanghai’s highly competitive job market. She has managed to land a contract position at an international bank, but she isn’t liking it. “It’s very unstable. The security and benefits are poor compared with a full time job. I don't feel a sense of achievement and my friends do not consider my job as a decent one. I feel very upset and... Read more
By Zhang Xiao Qing, 22 Mar 2010 - 2 comments
Banking IT professionals are in demand in China, but firms have high standards about the type of people they want to take on. Standard Chartered is, for example, hiring for roles including CSS technical managers and senior technical analysts. These jobs require not only a solid technical background, but also project management skills and an understanding of the bank’s business. Candidates must be able to provide solutions that can benefit Stand... Read more
By Jing Yan, 02 Sep 2010 - 1 comment
If last year saw a lending boom for the Chinese banking industry, this year’s theme is clearly capital raising. ICBC recently proposed a massive rights issue in both Shanghai and Hong Kong. Earlier this month, Agricultural Bank of China successfully listed on the Shanghai and Hong Kong stock exchanges, raising US$22bn. In fact, ICBC is the last among a fleet of major Chinese lenders to raise capital. State-owned rivals... Read more
By Zhang Xiao Qing, 19 Aug 2010 - 1 comment
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