Archive for hong kong
July 21, 2008 at 6:12 pm · Filed under banking, jobs, hong kong, recruitment
The job market for professionals in Asia has slowed amid concern about the global economy and hiring can take twice as long as a year ago, recruitment firm Ambition said on Thursday. “There’s a great deal more caution on who employers want to hire and more emphasis on experienced candidates,” , Guy Day regional managing director of Ambition, told a news briefing.
Candidates for even relatively junior positions at multinational companies were sometimes interviewed by very senior management from headquarters before being offered a job, Ambition said.
Hiring generally was taking about eight weeks, compared with 4-6 weeks last year. Read the rest of this entry »
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July 3, 2008 at 2:44 pm · Filed under talent, hong kong, scholarship, students, china
Last June, a record 10.5 million young Chinese participated in the national College Entrance Examination (CEE), up half a million from the year before. The CEE is the largest test of its kind in the world.
Whether these students succeed or fail on the exam determines their competitiveness for future jobs and changes the course of their lives in this demanding society. This year, there are twice as many candidates as there were university spots. In turn, the top universities in China and Hong Kong are competing for zhuangyuan—a Chinese term for exam champions from each city and province, numbering around 70 each year nationally.
Of the 614,000 students in Guangdong Province, 21-year old Yang Yang was the 2007 CEE Champion. After turning down an offer from Tsinghua University, a top university in China, he now studies at the Hong Kong University of Science and Technology (HKUST). Read the rest of this entry »
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June 27, 2008 at 11:04 am · Filed under finance, jobs, hong kong, recruitment
According to the report released by the Hong Kong Securities Institute on the 23rd, nowadays it is difficult for Hong Kong’s financial institutions to employ professional staff, especially in the areas of financial product development,promotion,trading and support.
This survey was carried out by Lingnan University from September to December 2007 to evaluate local financial professionals. After visiting 30 local and international financial management representatives and over 800 employees with less than 3 years working experience, they issued a research report on “Financial Professional Training.” Read the rest of this entry »
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June 27, 2008 at 10:54 am · Filed under banking, jobs, executives, hong kong, china
Asia’s expanding hedge fund industry will probably create tens of thousands of jobs in the next five years, even as investment bank recruitment dries up after the U.S. subprime mortgage market collapse, said Sheridan Mather, a managing director of recruitment firm Pinnacle International Ltd.
“We’re seeing some streamlining at the moment. We’re seeing some of the not so well-performing funds closing down,” London- based Mather said in an interview with Bloomberg TV today. “But we’re seeing massive growth of the established guys.”
The world’s biggest banks and securities firms cut 83,000 jobs in the 10 months to May as U.S. subprime mortgage delinquencies seized up the global credit market, according to data compiled by Bloomberg. Citadel Investment Group LLC and CQS (U.K.) LLP are among hedge fund managers that have used the opportunity to hire staff from investment banks to accelerate Asian expansion. Read the rest of this entry »
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May 29, 2008 at 4:57 pm · Filed under jobs, hong kong
The number of job vacancies in Hong Kong hit a record high in the first quarter of 2008 - a result of the territory’s continuing economic growth.
The active labor market, which has also seen a increase in the job turnover rate, is likely to push up wages, Hong Kong Institute of Human Resource Management president Lai Kam-tong said yesterday.
The organization, which carried out a survey of 131,000 workers, found the job vacancy rate peaked at 4.6 percent in the first quarter of 2008, up 1.5 percentage points from the same period in 2007.
“We have been able to pick up the economy and are still progressing on that path. Companies are more willing to expand and offer more job vacancies plus the workforce has more opportunity to advance their careers ,” Lai said. Telecommunications, engineering and retail sectors had the highest vacancy rates. But he warned that the United States subprime meltdown and fuel prices may affect the future pace of job creation in the private sector. Read the rest of this entry »
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May 22, 2008 at 3:05 pm · Filed under banking, executives, hong kong
As leveraged finance transactions slow to a trickle, bankers Peter Szekely and Ponty Singh are let go as part of a global drive to cut costs
Morgan Stanley has let go of two of its leveraged finance bankers in Asia as part of a global round of job cuts that will reduce the bank’s headcount by 5%.
A Hong Kong-based spokesman confirmed that the two bankers are Peter Szekely, a product specialist within the leveraged finance and acquisition business in Asia, and Ponty Singh, who worked on the client coverage side with a focus on leveraged finance origination and high-yield bonds in Southeast Asia and India. Both bankers were promoted to managing directors in December last year.
The US investment bank said a couple of weeks ago that it would initiate another round of job cuts in the wake of subprime-related losses that forced the bank to write off a combined $9.4 billion in October and November last year (resulting in a fourth quarter loss of $3.6 billion) and seek a $5 billion equity investment from China Investment Corporation. The latest round of layoffs will affect 5% of the bank’s staff, which totals about 47,000 people globally, the bank told reporters in the US. Read the rest of this entry »
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May 6, 2008 at 5:41 pm · Filed under executives, hong kong, expats, recruitment
Hong Kong, May 06 (Korea Newswire)– If finding the right employees isn’t challenging enough, companies in the developed world are about to face a new challenge - recruiters from emerging markets. A survey by the Economist Intelligence Unit, sponsored by SAP AG, found that when talent isn’t available locally, companies in emerging markets will look to western Europe and North America to fill their vacancies.
This is particularly onerous as ageing populations and declining birth rates in much of the developed world are beginning to cause a talent crunch. In some countries, such as Japan, the problem is particularly acute. Three-quarters of Japanese executives view the ageing population as the primary factor in the talent gap their firms are facing. Read the rest of this entry »
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April 24, 2008 at 6:18 pm · Filed under talent, hong kong, recruitment
61% of Employers in Hong Kong Struggling to Find Qualified Job Candidates
Manpower Hong Kong released today the results of its third annual talent shortage survey, revealing that 61 percent of employers in Hong Kong are finding it more difficult to fill jobs. The top three candidates most in demand are: Sales Representatives, Management/Executives and Accounting and Finance Staff. As a follow-up to its 2007 and 2006 surveys, Manpower Inc. surveyed nearly
43,000 employers across 32 countries and territories including 625 employers as part of the third survey in Hong Kong, to determine which positions employers are having difficulty filling this year due to lack of available talent. Globally, the survey found that 31 percent of employers worldwide are finding it more difficult to fill jobs. Read the rest of this entry »
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