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The technology market - Q2 2016

- In Hong Kong, the hiring for junior-mid level roles was strong. The companies actively hiring were Vendors, Insurance Firms, Brokerages, Chinese Investment Banks and some relatively smaller Commercial / Wholesale banks. The western Investment Banks have mainly been hiring in small numbers in the Contracting arena. In general, there was an overall increase in the number of Contract hires.

- In general, compared to Hong Kong, the buy-side firms (smaller hedge funds, market makers, prop trading firms) in Singapore are more active in hiring. The talent pool for those roles isn't big in Singapore but sponsoring visas for non-Singaporeans is becoming increasingly difficult there which is leading to a war for talent in Singapore.

- Hong Kong / China-based financial IT Vendors have been doing particularly well as traditional western Investment Banks are unable to hire due to headcount issues and have been outsourcing projects to these vendors. Some of these vendors have enough projects to fill up the rest of the year and beyond.

- FinTech continues to be both a trend and a buzzword! The best and simplest definition I have seen for 'FinTech' is this: "Fintech is usually applied to the segment of the technology startup scene that is disrupting sectors such as mobile payments, money transfers, loans, fundraising and even asset management". Singapore is also promoting this with many incentives and initiatives by the SG Government to incubate/promote FinTech firms in Singapore. Big4s such as EY and KPMG are also investing in funding FinTech startups. Furthermore, banks are also setting up 'FinTech' hubs in India.

Trending Technologies:

1

Digital has been in particular demand. It essentially refers to the convergence of Mobile / Web / Internet of Things (IoT) which appeals to today's modern consumer who is in front of gadgets all the time. Hybrid Apps using IBM Worklight / Phone Gap / Cordova are trending in Mobile development, HTML5 continues to dominate web technologies and there is a growing emphasis on good UX / UI developers.

2

Hiring in the Security area has also been strong. With the advent of Digital, Security continues to be very important. IT Risk / Cyber Security (both Application / Infrastructure Security) have been areas where hiring has been strong in both Singapore and Hong Kong.

3

Cloud Infrastructure and Technologies is also a growing trend within financial institutions. With more banks, insurance firms, wealth management firms adopting IoT and digital applications, the traditional data center infrastructure model isn't able to cater to the new demand. The adoption of DevOps is also pushing the demand for Cloud infrastructure, Eg. MS Azure or AWS.

Hope you found this information useful. Please do contact us should you need more information.

We look forward to helping you.

Best,
Vince Natteri,
Managing Director

(on behalf of the Pinpoint Asia Recruitment Team)
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