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- The hiring landscape: Asia was pretty hot and the place to be in for banking tech jobs about 7-10 years back. That is not really the case now. Singapore, for instance, was then seen as the preferred off-shoring location for many of the western banks like Barclays. Now, companies are setting up tech hubs in Kuala Lumpur and other places instead. Singapore also has tougher laws for visa sponsorship for non-locals and it has also become quite an expensive place compared to what it was many years ago. Other than possibly replacing key roles in technology, western banks are not really hiring that much in Hong Kong and Singapore. As far as banks go, the ones that are hiring are local, commercial banks in both Singapore and Hong Kong

- Other firms that are hiring: The buy side firms (asset management firms, market makers, prop trading firms) are hiring but it is much harder to land jobs with these buy side firms as they usually operate in smaller teams and their technical standards are very high. The vendors are also hiring as banks are outsourcing more work to them. FinTech firms are growing and hiring too and there are more FinTech conferences and get-togethers now than ever before. A lot of these FinTech firms also take away good technologists from the sell-side. I attended an HKUST FinTech event recently where Professor Henri Arslanian was speaking. I wrote about my top 10 takeaways from that. You can find it here.

- Notable moves: Interestingly, Citadel hired Steven Lieblich (former CIO at Morgan Stanley) as their CTO. They also hired Kevin Turner (former COO at Microsoft) to run their securities unit. Also, Ray Dalio's Bridgewater Associates also hired a tech executive (Jon Rubenstein who was an ex Apple Executive) in March 2016. This goes to show the importance these hedge funds place on exceptional technology

 

Popular roles in Q3 2016:

SectorTechnologies in demandTypes of firms hiringDomain areaComments
Investment Banking /
Electronic Trading
C++/Unix Buy side firms including (market makers), hedge funds, prop firms Equities (Cash / Listed Derivatives) especially Market Making / Algo Trading Overall, there were less number of perm roles when compared to last year same time
Insurance/ Consulting firms J2EE, Database developers, Mobile Developers Leading Insurance firms and Consultancies The Mobile / Digital space continue to be an area of focus for many insurance firms Insurance in general has been booming this year. The Digital space has been very buoyant
Commerce Architects / Cloud Specialists Large enterprise level firms including Fortune 500 companies Infrastructure / Cloud area Cloud-based roles have been popular throughout the year
Retail / Commercial Banking J2EE developers / Big Data developers Wholesale banks, Commercial banks Front-to-back internet trading systems for the retail market Junior-mid level J2EE developers with some sort of banking background have been in demand. Also, Hadoop / Big Data developers are seeing demand
Common to all sectors Infrastructure Risk and Security roles Banks / Insurance firms and Enterprise level firms IT Security (both application and infrastructure) Roles related to Cyber Security have been increasingly popular this year
 
 

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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