There has been an increase in talent movement within the financial investment industry in Hong Kong, with a particular focus on Asian hedge funds in Hong Kong. Notably, hedge funds have been hiring and professionals with CFA qualifications are in high demand.
Growth in hedge funds
Both the fund management and private equity industries are continuing to boom due to lower taxes in Hong Kong, as well as the presence of a fairly open capital market (especially in terms of foreign fund managers) and more relaxed regulations in comparison with China. Additionally, asset management firms are continuing to boom in Hong Kong, as well as a number of domestic asset management firms in China due to regulations requiring foreign firms to carry out joint ventures.
With mainly targeted new roles and replacement positions in Hong Kong, many organisations are hiring cautiously in light of global economic uncertainty. Companies now want to bring on the right talent who can add value to their organisation.
In view of the continued growth in Asia, many financial institutions are placing an increased emphasis to grow their businesses in Asia, consequently resulting in keen competition for good talent.
Lack in the talent pool
The local talent pool is insufficient in relation to the constant growth and demand for qualified candidates. In view of the continued growth in Asia, many financial institutions are placing an increased emphasis to grow their businesses in Asia, consequently resulting in keen competition for good talent.
CFA qualifications as an added value
Professionals with CFA qualifications are appreciated especially within international firms. As most employers prefer to hire professionals with both experience and CFA qualifications, it is highly recommended for young professionals to first acquire relevant industry experience or transferable skills before pursuing a CFA to provide more value add to the organisation.
In recent times, CFA charterholders are more likely to be in demand due to their extensive knowledge of the financial services industry. In addition, CFA-qualified candidates are highly preferred by employers as they are commonly perceived as being disciplined and technically sound. Additionally, CFA-qualified candidates who pursued their qualifications whilst working are also sought-after for their ability to multi-task in terms of juggling both work and study at the same time.
Roles in demand
In terms of junior to mid level roles, hiring managers are also more likely to select candidates with relevant working experience (between 2-6 years) within investment or advisory positions, whether or not they are CFA-qualified.
While a majority of Chinese firms are not overly familiar with international CFA qualifications, the continued growth from Greater China has resulted in an increasing demand for such talent. Additionally, we have seen most of the demand for such qualified candidates come from mostly international joint ventures and firms.
As such, CFA charterholders would be useful for professionals whose roles are focused on investment opportunities. This includes fund management, hedge fund, private equity, private banking industry as well as MNCs with business development or internal M&A positions/advisory roles.
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