Tue, Dec 14, 2004 - Page 10 News List

Finance firms plan to step up hiring next year

GROWTH MARKET Local financial institutions are looking for hundreds of new employees, mainly to fill positions in the wealth-management segment

By Joyce Huang  /  STAFF REPORTER

Wealth management has become the main target for growth for local financial institutions, and their plans to hire new staff have them poised to compete for talent.

The Hong Kong and Shanghai Banking Corp (HSBC) yesterday began its annual recruitment campaign in a bid to hire an additional 550 new staff next year.

"HSBC is ready for the long-term run in the next five years," Martin Spurling, deputy CEO and senior vice president of HSBC Taiwan's personal financial services division, said yesterday.

He added that the bank plans to hire at least 500 more staff annually from this year on.

Spurling said this is the bank's largest recruiting campaign in recent years, adding that Taiwan is one of its key growth markets in Asia and that it plays an important role in its greater China platform.

After the recruitment, the UK-based banking giant's total employees in Taiwan will rise from the current 1,700 to some 2,250 next year, or 45 percent growth.

Of the 550 new hires, 400 will work under the personal financial services desk as wealth management consultants. They will report to work no later than March to meet growth targets for next year, said Dorothy Tao (陶尊芷), senior vice president of HSBC Taiwan's human resources division.

Ahead of a recruitment seminar this Saturday, HSBC Taiwan has spent NT$3 million on advertising the campaign, Tao added.

In October, as companies expanded businesses to meet demand Taiwan reported its lowest monthly jobless rate, of 4.31 percent, since May 2001 when it was 4.22 percent, the Directorate General of Budget, Accounting and Statistics said last month.

In addition to HSBC, Citibank Taiwan yesterday also said that it plans to recruit 800 consumer banking staff next year, while Standard Chartered Bank said that its manpower demands may grow by up to 30 percent next year, from the current 1,000 employees.

Although they haven't hammered out recruitment plans for next year, domestic financial service companies will continue to hunt for new talent.

Fubon Financial Holding Co (富邦金控) said that it will have over 200 positions in wealth management to be filled next year. It hired 70 people this year.

By the year's end, Chinatrust Financial Holding Co (中信金控) will have hired a total of 4,000 people this year, and Taishin Financial Holding Co (台新金控) will have recruited 1,600, while both SinoPac Holdings Co (建華金控) and E. Sun Financial Holdings Co (玉山金控) will have added 500 new staff, according to company officials.

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