October 3rd 2011
With recent job cuts been wielded across the Asian Banking sector this may come as a surprise that there are still skills shortages prominent at top tier level.
The global economic recession effected countries worldwide and Singapore was no exception However the Banking and Finance sector bounced back quickly and had gained traction as a regional and global leader in banking and wealth management. Yet whilst it seemed most foreign banks in Singapore were insulated from deeper cuts that occurred along the way in the US and Europe, the cull has arrived with job losses piling up recently.
Despite this the biggest challenge for companies in this sector is attracting top tier talent. Financial institutions are still actively seeking candidates with specific skill sets and experience in such areas as derivatives, exotic products and risk management. However the emphasis is towards the hiring of industry experienced candidates who can hit the ground running and contribute to business growth.
Singapore will remain a strong market in the East, particularly with its business-friendly policies that have been put in place by the Singapore government. The only threat is the lack of specialised staff, and we here at Sigmar believe the war for talent will continue with top grade candidates commanding top percentile salaries.
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