Hong Kong’s banks are seeing a surge in hiring activities in the last few months as newly licensed virtual banks start their grab for banking talent.
Hong Kong's banking sector is seeing an unusual spurt of recruitment activities, as newly licensed virtual banks race to grab talent, «Bloomberg» reported (behind paywall).
Despite their smaller banking presence in the city as compared to more established banks, the new virtual banks have to be offering retail and commercial services within nine months.
Upcoming Demand
«That is a very short time-frame (to get ready),» said Sean Huang, head of business innovation at Synpulse, Greater China, a management consultancy firm. Amongst the four ventures that won these virtual banking licenses, they have about 200 people in the city, said Carol Cheung, a director at headhunter Robert Walters Plc, who was quoted in Bloomberg.
And this is set to double once their operations begin. Meanwhile, the Hong Kong Monetary Authority is processing four more applications.
