Big global banks have relocated senior managers to Hong Kong and are boosting teams in response to a surge of stock listings and dealmaking in the Asian financial hub.
Deutsche Bank, JPMorgan, Standard Chartered, Citigroup and DBS have started hiring in the city to meet growing demand for banking and wealth services, according to people familiar with the situation.
While analysts said that bank staffing was not at pre-pandemic levels, the city’s finance sector has been gaining impetus as a result of the surge in Chinese companies using the territory as an offshore funding venue. The number of companies applying for a Hong Kong initial public offering hit an all-time high in the first six months of this year.
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