Robert Walters Hong Kong Financial Services Market Update Q1 2024

In the first quarter of 2024, the Hong Kong financial services market demonstrated a nuanced landscape marked by cautious hiring strategies amid economic uncertainties. Across diverse sectors, banks and firms approached recruitment with a sense of prudence. While some segments, like hedge funds and private equity, hinted at gradual improvements in hiring activity, others, notably compliance and legal sectors, maintained a reserved stance, focusing primarily on fulfilling existing roles rather than expanding their workforce.

Overall, firms within the financial services sector showcased adaptability, navigating through a landscape characterised by cautious optimism and strategic hiring decisions. Economic uncertainties loomed large, influencing hiring dynamics, as companies evaluated their staffing requirements, emphasising talent retention while selectively augmenting their teams with new additions.

To secure top talent in this competitive market, hiring managers are advised to invest in employee development, fostering a culture of continuous learning and internal mobility. Emphasising diversity, equity, and inclusion cultivates an environment where all employees feel valued are also a trend in attracting top professionals. At the same time, hiring managers can consider leveraging AI and machine learning in recruitment enhances decision-making and streamlines processes. Open communication with candidates throughout the hiring journey builds trust and strengthens the employer brand. These strategies optimise talent acquisition in Hong Kong's competitive financial services landscape in 2024.

This market update covers our specialist areas of our financial services team including front office (hedge funds, private equity & credit, fund of funds, family offices, private bank, investment banking, capital market), legal & compliance, accounting & finance, internal audit, risk management, operations, technology, marketing, human resources and business support. 

Download it now to keep up with the trends shaping the financial services sector to gain an edge in recruiting top talent.