Hong Kong Career Blog

In a recent interview with Media Asia, Steve Rubel, SVP, and director of insights at Edelman Digital, discussed the impact tbat the growth of online media has had on PR agencies.  Rubel explains how many of them are having to lead the way in coordinating a variety of marketing initiatives among different agencies and across an increased number of marketing platforms.

“In an exclusive interview given to Media, Rubel who recently visited Singapore, said: ‘I do think having all the right agencies around the table is important. We are not the ones to say that ad agencies are not going to be important, we are not the ones to say interactive agencies won’t be important but someone has got to be the ringleader and we are increasingly finding that PR agencies are best suited for that.’

…

‘We can now do things that are unmediated and that’s tremendous. [Digital] is more content driven which PR professionals know quite well – to create content, shape content and how to tell stories. At the same time it is more out of control. That’s something we have always dealt with. We know how to deal with the uncontrolled spaces.’

…

‘There is paid, earned, owned and social. You can lump social with some others but I think there are four spheres including social media. [Marketers] have to look at these together. They can’t think of these as silos. The problem is some of it is managed in silos. So you have to think how your paid media can drive attention to your social media and you have to think how social and earned interact back and forth. What’s the play there? How does your earned media drive social awareness? I think the secret in integrating those four together is that they are timed to integrate in a powerful way.’

For more insight from Steve Rubel on the development of online marketing, see the interview video HERE.

We recently commented on the increase in demand for back office professionals in Singapore, but that’s not the only city in Asia that is heating up with back hiring.  Hong Kong has thrown its hat into the ring as one of the world’s hiring hot spots.  Ambition’s Amy Ho was recently quoted in an article at efinancialcareers.com:

“Hong Kong is still the regional hub for most finance functions for the majority of international banks. Regional tax business-heads are usually based there, rather than Singapore. ‘There is a need for tax advisory teams to work closely with the front office on new products/transactions related to tax issues,’ says Amy Ho, manager of banking and financial services, Ambition Hong Kong.

The pool of tax professionals from Big Four accountancy firms or law firms is also larger in Hong Kong than Singapore. ‘So the regional tax professionals can partner them as external advisors, and this also provides a source for the banks to recruit from,’ adds Ho.

…

‘There is continued recruitment of compliance professionals, especially people who have sales and trading, control room or investment banking exposure. As Hong Kong is the regional centre for many banks’ sales and trading floors, the need for product-compliance specialists remains strong’, says Ho. Candidates with equity derivatives knowledge are in particular demand.

‘Similarly, a number of banks have established regional control-room compliance teams based in Hong Kong. With the IPO market expected to pick up throughout the year, firms are also strengthening their compliance teams with ECM specialists,’ she adds.”

This is just another indicator that while hiring for finance is increasing, there is also a trickle-down effect on hiring for support positions throughout Asia.  Further, although many top-level front of office jobs are being filled by Asian-born professionals, there are many opportunities for expats with significant experience  in Asia.

To explore some of the hot job openings we have in Hong Kong and Singapore, please visit us at Ambition Hong Kong and Ambition Singapore.

Ambition’s Sam Belcher recently commented on the increase in demand for skilled back office professionals in Singapore.  This uptick in recruitment is being fueled by companies seeking to bring their staff back to full strength after operating shorthanded for much of the last year.  Singapore’s status an international finance hub, with relatively low costs of doing business, is also contributing to the increased demand.  From a recent article at efinancialcareers.sg:

“Why are there more vacancies? ‘This is mainly driven by the increasingly stringent regulatory requirements in foreign countries. With many banks now maintaining regional or global hubs in Singapore, they need candidates with a solid understanding of international regulatory requirements,’ explains Sam Belcher, manager of banking and financial services, Ambition Singapore.

British banks, for example, want candidates with UK Financial Services Authority experience.’This is also because there are parallels with the basic requirements set out by MAS. There has also been a fair amount of turnover in local reporting functions, so there is a definite demand for more senior candidates in this area,’ adds Belcher.”

…

“Candidates with accounting and operations line experience, who are keen to move into change management, are in demand, says Belcher. ‘As the market picks up in 2010, we expect this to increase even further as banks try to gain market share.’”

Read the full article HERE

To find open positions in Singapore, please visit www.ambition.com.sg

From time to time, everyone ponders whether or not they are being paid what they’re worth.  Of course, most people will conclude that they are not, and often rightly so.  Many professionals, across all sectors, have felt the  pressure of increased responsibilities due to the economic downturn and therefore feel that they are very underpaid.  There is growing sentiment that compensation is not measuring up to the added responsibility that many executives have taken on.

So how do you figure out if you’re really underpaid?

There are several resources such as salary wizards in the internet and our Career Management Tools that will help you determine how your pay compares to your peers. Ambition has a number of salary surveys than can help you position yourself in the market.  Please click here to view the Ambition’s salary survey (Hong Kong) / Ambition’s salarly survey (Singapore).

However, one of the best ways to know what you are worth is to remain in the job market.  Even if you’re not actively seeking a new engagement, you can keep an eye on what skills employers are focusing on and how much they’re willing to pay candidates that have the desired background.  And there is the chance that you may just happen upon a great opportunity that you can’t pass up, even if you are happy with your current role. Another way to do this is to build a relationship with a trusted recruiter who can always advise you as how you are paid versus market norms.

Perhaps the most important thing you can do is to pin down exactly why you feel undervalued.  Is it just the money or are you simply unhappy with your position, no matter what the salary?  If you are in a role that is not fulfilling and a bad match, even if you are paid the industry norm it will still not be enough.  Decide what you really want to do and what truly makes you happy.  Is it another kind of position within the same industry or do you really want to make a wholesale career change?  How is your job affecting your family and will more money really improve your life?  Maybe simple things like less stress, more vacation time or better benefits are the kinds of compensation that will really make you feel good about your career.   Being happy with your job is paramount.  But then, a higher salary never hurts.

For more career management guidance, please visit us at Ambition Hong Kong or Ambition Singapore.

Ambition has a number of great opportunities in Hong Kong and Singapore for talented professionals.  We also expect to have even more positions for qualified candidates in the coming months, as companies begin to increase recruitment in 2010 and reverse the recent trends of downsizing and hiring freezes.  Here are just a few of the latest positions for which we are seeking top quality professionals:

1. Director, Operational Risk, Trade Finance (Hong Kong)

Our client is one of the largest international banking groups with full range services in Corporate Banking including Trade Finance. Due to continuous improvement in risk and control across the region, a newly created opportunity has arisen for an experienced Risk Manager to join the team as Director of Operational Risk Management for the Trade Finance business in Asia, based in Hong Kong.  

Reporting to the Regional Head of Operational Risk, you will manage Operational Risk for the Trade Finance business in the Asia Pacific region ensuring the highest standard of risk management and governance are implemented and best practices are aligned across the business. You will partner with the business to guide and implement robust operational risk management practices, framework and self assessments. You will prioritise key risks and processes, identify, assess, escalate and mitigate risk issues. As a key representative from Operational Risk, you will drive risk awareness program, provide thought leadership to develop a balance between risk and reward, participate in risk review groups and regional / global projects.   

To learn more, please visit our job search page…

2. VP, Marketing and Brand Management – Private Bank (Singapore)

Our client is a Global Investment Bank that has a strong APAC presence. They are now looking to recruit a talented Marketing professional to drive the marketing strategy for their Private Bank across Asia Pacific.   

In this role you will be responsible for developing and implementing marketing, branding and advertising strategies and programs for APAC region. You will managing the full spectrum of brand marketing activities, which will include developing marketing materials and brand collateral, working closely with the product teams to provide marketing support for product launches and conducting in-depth market research, marketing analysis, value proposition and positioning development. In addition you will manage the agency relationships and online marketing strategies.   

To learn more, please visit our job search page…

For more information on these and other opportunities, please visit us at ambition.com.hk or ambition.com.sg

Channelnewsasia.com has reported that DBS will be adding head count in China in the coming year:

“DBS has unveiled its plans to ramp up its priority banking business in China this year.

This business, which caters to customers with at least S$82, 000 or 400 thousand renminbi in investible assets are expected to grow due to the rapidly growing economy.

DBS China has also applied to open up more branches from its current eight branches and seven sub-branches across the country.

The bank also intends to add about 200 staff to its existing headcount in China which already have close to a 1,000 employees.

More than half of the recruits will be for client-facing roles in priority banking with the rest slated for positions in institutional banking, treasury and markets as well as support units to keep pace with the rapid business expansion.

To boost its brand presence, DBS will commit over S$1.5 million to participate in the upcoming World Expo 2010.

Visitors to the World Expo can learn more about DBS and its Asian heritage at the DBS Gallery which will be located in the Singapore Pavilion from June 21 to July 16.

In addition, the bank is sponsoring the DBS Fountain of Treasures at the Pavilion.”

To keep up with the latest news on staffing trends in Asia, please subscribe to the blog and be sure to visit ambition.com.hk for out latest job opportunities.

Since our company’s inception in Sydney in 1999, London has been part of our longer term strategy of international expansion and in January 2008, we fulfilled that goal as Witan Jardine, one of London’s most respected specialist recruitment firms, became part of Ambition.

On 15^thApril  2010 we will be changing from using the Witan Jardine name to Ambition so that our international brand is aligned with our business operations.

This is a significant and exciting moment for us in our Asia and Australia offices as it will extend the Ambition brand reach to London.

As a single international brand Ambition is now well positioned to offer qualified job seekers career opportunities in London. We can realistically only help those candidates with work visas for the UK and, of course British citizens. These are not our stipulations but those of our clients as it is very difficult to sponsor people in the UK without work visas.

So if you have a visa in hand and are on your way to the UK or are a British accountant, finance sector or sales & marketing professional looking to return to the UK then please do get in touch with us here and we will  connect you with the right people in London.

We specialise in the same three streams of business in London as we do in Asia:

Finance & Accountancy

Banking & Financial Services

Sales & Marketing

Alternatively visit our UK website at http://www.ambition.co.uk/

As evidence slowly mounts that the Global Economic Recession (GER) is beginning to turn around, we believe that hiring across a few key sectors will be showing a marked increase in the first and second quarters of 2010 when compared to the same period last year.

Of course, most reports have the highest hopes for new employment prospects in Asia, as domestic demand grows in APAC countries.  However, prospects in Asia are tied to the fortunes of Western economies and markets like China and Singapore will see more limited growth if the U.S. and European markets cannot continue to maintain the modest gains they have seen in the last few months.  For an interesting take on the mutual dependency between China and the U.S., take a look at this recent NPR story.  Obviously, the jobs discussed in the story aren’t high level finance or banking jobs, but it does vividly illustrate that Asian economies can’t continue to expand unless Western markets are making some gains in employment as well.

Generally, the outlook for recruiting banking and finance professionals is certainly better than as of a year ago. Already in Q1 we’re seeing some significant increases in hiring across banks and other financial institutions which is further reinforcement of these organisations’ commitment to this region. We feel that there will continue to be strong demand in financial services but more modest gains across commerce & industry in the first half of the year. We expect that hiring away from banking will gain momentum in the second half of the year.

For a full report, please click the image below or visit our resources page at the Ambition website

Executive Recruitment – Market Trends & Salaries Report 2010

Every week Ambition Hong Kong will highlight a number of great opportunities for talented professionals.  We believe that there will be  more  job openings in the coming months, as companies begin to increase recruitment in 2010 and we want to help you take advantage of  this positive trend.  Here are just a few of the latest positions for which we are seeking top quality professionals:

Head of Compliance

Our client, a leading international commercial bank, is currently seeking a Head of Compliance for their Hong Kong operations. Known largely for their commercial banking business, they also have a small retail banking presence focused on high net worth individuals. 

Working closely with the banks General Manager for Hong Kong, as well as the Global Head of Compliance you will be responsible for leading a team of around 15 individuals to ensure appropriate levels of compliance across the commercial and retail banking operations. You will be a key point of contact for the local regulatory authorities and be actively involved in the review of all new products and services. Alongside your day to day duties you will also be involved in ad hoc business initiatives and projects.  

Learn more…

Retail Manager

Our client is a US-listed apparel brand. As result of their continued success in the local market a newly created position of Retail Manager has been created to oversee both own store and consignment counters in the Hong Kong and Macau market.

Based in Hong Kong and reporting into the Senior Vice President, you will be responsible for ensuring store profitability through each point of sale. You will lead a small team of area managers where you will coach, train and motivate to ensure each consumer meets a uniformed level of service. Other responsibilities include maximising inventory levels, driving trade promotions to induce repeat purchase and analysing merchandise mix for each location.

Learn more…

VP – Finance

Our client is a well-established multinational and multi discipline commercial organisation with interests spanning the Asia Pacific. Recent movement within their group has led to the need for a highly motivated VP – Finance with exceptional leadership skills.

Working extensively with the CFO, you will be tasked with driving overall business performance. As a hands-on finance executive supported by a large accounting and finance team, you will monitor all accounting, financial and treasury functions of the company. Leveraging on your previous experience of implementing process improvements, you will also develop and continually strengthen appropriate procedures and controls.

Learn more…

Hong Kong is world renowned for its impressive skylines, towering skyscrapers and world class shopping.  There is also a wide array of cultural attractions such as the Peak Tram, the Exhibition Centre and scores of museums and architectural attractions that celebrate Hong Kong’s colonial history.

One of the most unique things about Hong Kong are the contrasting lifestyles in this culturally diverse city.  There are the many beaches like those at Shek O, Lantau and Lamma Islands, which are known for its laid back atmosphere and slower pace.  While at the other end of the spectrum, the city center boasts a huge range of high end shopping venues like the IFC Mall, which is always filled with people hustling and bustling from shop to shop.

There are a number of great resources available to expats considering moving to Hong Kong.  One such helpful website is justlanded.  This is a good place to have some of your questions answered, and you will find that you will have many, many more questions than you ever imagined.  Of course, you’ll have to do the obvious things like find a flat or house, investigate what schooling options are available if you have children, and of course make your way through the visa process for yourself and family.  But you will discover that you will have more questions almost daily.

Of course, the first question you will have answer before relocating to Hong Kong is whether or not the city will be a good fit for you and your family.   So, how does Hong Kong measure up?  Well, you will surely be aware that Hong Kong is not an inexpensive city in which to live and has recently moved up significantly in various surveys of the world’s most expensive cities, generally falling within the top five most expensive Asian cities and the top fifteen worldwide.  However, Hong Kong ranks in the middle of the pack in the most recent Happy Planet Index.

Ccompensation for workers in Hong Kong is also correspondingly elevated and will hopefully continue to rise and the Asian economies continue to emerge from the recent worldwide economic downturn.  So, while no city is perfect, Hong Kong is still a city that has a lot to offer expats considering relocating.

Another good place to look for information about Hong Kong is BrandHK, which is a site dedicated to showcasing Hong Kong as one of the world’s great cities.  It’s full of useful links as well as fun facts about Hong Kong.  Ever wonder if any Hong Konger has won a Nobel Prize?  Or wanted to know just how “Green” the city is?  Visit their Fun Facts page and wonder no more.

We welcome comments and any suggestions for useful resources that will help our readers settle into Hong Kong.  We’re looking forward to seeing you!