Jobless Bankers Look to Asia for Work

Chief financial officers planning to augment their finance staff may benefit from the career change of many jobless bankers from the US and Europe who are searching for opportunities in Asia, especially China.


Citing headhunter DHR International, the South China Morning Post reveals that bankers that lost their jobs during the global financial downturn are looking for work in Asia in the areas of private management, private banking, or assisting companies planning to go public.


May Wong Tung, managing director of financial services for DHR, told the Post that mainland companies that plan to go public like to hire former investment bankers to join their senior management teams.


"But we have to warn Western bankers seeking jobs here about the difficulties of working in Asia. It is not only an issue about their experience and qualification. They will need to have good network in Asia to be able to get a job here," Tung told the Post.

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