Sat, Mar 09, 2019 - Page 12 News List

Top finance firms plan to add 16,000 staff this year

Bloomberg

The nation’s three biggest financial firms plan to boost their head count by more than 10 percent this year as the local stock market rebounds.

Cathay Financial Holding Co (國泰金控) and CTBC Financial Holding Co (中信金控) plan to hire 5,000 people each, while Fubon Financial Holding Co (富邦金控) is looking to add more than 6,800 workers, the companies said this week.

The TAIEX has gained 5.3 percent this year, almost erasing the past year’s slump.

If the rebound holds, Bloomberg Intelligence forecast the profit picture to brighten for Cathay and Fubon, the nation’s leading financial holding companies.

Taiwan’s financial firms are looking to expand overseas or diversify business from the overcrowded local banking industry.

Cathay, the industry’s biggest listed firm, plans to hire for roles in finance, management and technology, the company said in an e-mail yesterday.

Fubon on Wednesday said in a statement that it is investing in financial technology.

CTBC is looking for overseas expansion and growth in its insurance and core operations, it said in an e-mail on Thursday.

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