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Developments in Hong Kong’s virtual banking sector is shaping the workforce in banks

11 June 2019

hong kong

From C-suite and director to manager and associate levels, the workforce dynamics are changing within Hong Kong’s virtual banking sector. This is spurred by new virtual banking licenses introduced in the territory, according to recruitment experts Hays.

“From a recruitment perspective, it is very exciting… as it going to create a huge amount of demand for new people. Banks are now placing a lot of emphasis on hiring highly capable teams to bring their technology-driven projects to fruition,” says Riley King, senior manager, digital technology and accounting & finance at Hays.

These are the roles in demand in Hong Kong’s banking sector:

  • Data Scientists
  • UX and UI engineers
  • Full stack developer for mobile and web applications

“In particular, this is an especially exciting time for tech talent, especially those who have had experience in the banking sector. However, as this is a candidate-short market, employers are increasingly receptive of talent who do not necessarily possess industry experience but have the right technical competencies to do the job,” he adds.

The global recruitment firm also notes that candidates must be agile and adaptable in order to thrive in the evolving fintech market.

“Consumer and investment banks are launching a myriad of digital products and applications for both corporate and consumer markets. Already, the Economic Corporate Network (ECN) reports that 48 per cent of organisations view AI as an opportunity for their business. There is a lot of pressure to get things up and running, and candidates must be prepared to work in a fast-paced and highly dynamic work environment.”

“Due to the ever-evolving nature of fintech, tech professionals who work in the banking sector are therefore required to be quick on their feet and adopt an entrepreneurial mindset to truly add business value to the projects they are working on,” advises Riley. 

-Ends-

Hays, the world’s leading recruiting experts in qualified, professional and skilled people.

Hays is located in Hong Kong at 6604-06, 66/F, ICC, 1 Austin Road West, West Kowloon, Hong Kong.

Follow Hays on LinkedIn - The #1 Recruiter on LinkedIn globally

About Hays

Hays plc (the "Group") is a leading global professional recruiting group. The Group is the expert at recruiting qualified, professional and skilled people worldwide, being the market leader in the UK and Asia Pacific and one of the market leaders in Continental Europe and Latin America. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As at 31 December 2018 the Group employed 11,700 staff operating from 262 offices in 34 markets across 20 specialisms. For the year ended 30 June 2018:

– the Group reported net fees of £1.072 billion and operating profit (pre-exceptional items) of £243.4 million;
– the Group placed around 77,000 candidates into permanent jobs and around 244,000 people into temporary assignments;
– 19% of Group net fees were generated in Australia & New Zealand, 26% in Germany, 24% in United Kingdom & Ireland and 31% in Rest of World (RoW);
– the temporary placement business represented 58% of net fees and the permanent placement business represented 42% of net fees;
– Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, China, Colombia, Chile, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Russia, Singapore, Spain, Sweden, Switzerland, UAE, the UK and the USA

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