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[Investment Banking Technology sector]

  1. Strong hiring sentiment:
    • It's been a buoyant market. Candidates have been receiving multiple offers
    • Compared to a year ago, salary increases for good developers (Java / C++) have been generous, some in the range of 20% or so. With technology continuing to be a strong focus for the banks, this war of talent is likely to continue
    • Python / HTML5 / Front End JavaScript developers are in the highest demand

  2. Rise of DevOps roles:
    • The same way "agile" came into practice many years ago; we are now seeing widespread adoption of DevOps practices across many institutions, especially within banking
    • Most banks now have a separate DevOps team (it used to be part of the Production Support team before)
    • Depending on the model, some banks require these DevOps candidates to be familiar with deployment processes over the Cloud (AWS or Azure or Google Cloud)

  3. Virtual Banking:
    • This article describes it best. A "virtual bank" is defined as a bank which delivers retail banking services primarily, if not entirely, through the internet or other forms of electronic channels instead of physical branches
    • Ironically, they still need to maintain a physical presence in Hong Kong as their principal place of business, although they need not have retail branches
    • In terms of technology, front end / mobile developers and developers focused on chatbots, robo advisory are going to be more in demand

[General Technology sector]

  1. Graph Databases:
    • We spoke to the ex Deputy CIO of SFC Stephen Langley who spoke about Graph Databases being the next big thing in databases. A Graph Database, according to Wiki, "is a database that uses graph structures for semantic queries with nodes, edges and properties to represent and store data. A key concept of the system is the graph, which directly relates data items in the store" - a little above my head but there you go!

  2. Rise of Block Chain / Crypto related Firms:
    • It's been a continuation since the previous quarter but we saw even more new Crypto Firms opening up in Singapore and Hong Kong. Typically, these firms look for Java / C++ developers or front-end developers

[Noteworthy updates]

  1. HKMA's Open API Framework:
    • Hong Kong Monetary Authority is releasing a new open API framework. This could result in an even higher demand for developers in the medium to long term

  2. Finance Puzzles:
    • We interviewed the CIO of Hanpa Trading Scott Chistensen, who pointed us to some finance puzzles that he has developed. If you are interested in some puzzles, here is the link

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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