FT: Global banks boost Singapore hiring to mitigate Hong Kong risk
Banks are looking to hire up to eight times as many employees in the rival regional financial hub, in what recruiters describe as an under-the-radar shift aimed at reducing staffing levels in Hong Kong while avoiding angering the Chinese government.
A December survey of LinkedIn data conducted by the Financial Times found eight times as many jobs available in Singapore at UBS and JPMorgan as in Hong Kong, while Credit Suisse, Goldman Sachs and Citibank were advertising more than double the number.
One investment bank executive said there was a low-key effort under way to add more jobs in Singapore, where investment firms have traditionally had a lower headcount. “It is prudent to spread the risk given the geopolitical situation,” the person said.
The full article is available at https://www.ft.com/content/c3478b85-2be5-449b-90b1-c4ffe78150d8
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