Foreign exchange sales staff with expertise in China are set to be in particular demand in 2004, according to recruitment specialists in the Asia-Pacific, reports Risk’s sister publication FX Week ."Foreign exchange sales into China is going to outpace any other institutional sales in the region," said Mark Pink, Tokyo-based managing director of TMJ Net Media, the parent company of recruitment consultancy Top Money Jobs. "We have had several requests for institutional forex sales staff recently, which we never had even three months ago."
Matthew Miller, Asia-Pacific head of fixed income at recruitment firm Global Sage, agreed: "Banks perceive the main opportunity going forward for foreign exchange to be China, so they are looking for salesmen to cover the People’s Republic [of China]."
Top forex banks have already started increasing staffing levels in Asia as part of their strategies to win business in China as it gradually liberalises its economy. Opportunities for banks lie in areas such as the long-anticipated relaxation of the renminbi’s peg to the US dollar, and regulation changes that mean banks can trade non-renminbi derivatives for profit in the People’s Republic.
Pink explained that banks are looking for people based in "Singapore, Hong Kong or Taipei" who would be selling foreign exchange services "primarily to manufacturers and other corporates".
Global Sage’s Miller added that the search for China forex sales staff is not limited to personnel already based in Hong Kong. "As the local talent pool becomes tighter, we often look globally, and it is not uncommon to hire back People’s Republic of China nationals from London and New York to roles in Hong Kong, Singapore and Shanghai."
More on People
Michele Foresti officially resigns from role after failing to receive regulatory approval
James Coulson joins Swiss bank after 18 years at SocGen
Job changes in the derivatives, regulation and risk industry throughout Asia
Hoodless and Madaras among those suspended
Sign up for Risk.net email alerts
Sponsored video: Tradeweb
Multifonds talks to Custody Risk on being nominated for the Post-Trade Technology Vendor of the Year at the Custody Risk Awards 2014
Sponsored webinar: IBM Risk Analytics
Nominated for two technology awards
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.