Major banks in the midst of expansion this year appear to be engaged in fierce competition for new staff.
Citibank (Hong Kong), DBS Bank (Hong Kong), Hongkong and Shanghai Banking Corp and Standard Chartered Bank (Hong Kong) have already begun a recruitment drive in the city’s consumer banking industry.
HSBC, which is planning to hire 500 frontline staff this year, will launch their first recruitment day tomorrow. HSBC also conducted a recruitment drive last month.
DBS, one of the major lenders in the city, will also organise a recruitment drive later this month.
“The banking industry is fighting for talented staff, and we have been recruiting capable people to work with us. To achieve our aim, we will use whatever means necessary,” says a DBS spokesperson.
Standard Chartered said its recruitment is not a one-off event; the bank is recruiting because it needs people to expand its business in Hong Kong. Standard Chartered hired between 500-600 new staff last year. This year, the bank is planning to increase its staff on a similar scale.
Citibank is planning to open three Citibank branches and six CitiFinancial branches this year. The bank said its staff turnover rate is about 15%.
“We think all major players in the industry are facing a similar situation,” says a Citibank spokesperson.
“We are below the market level for turnover. Even in the competitive job market, we don’t have a problem hiring people,” adds a Standard Chartered spokesperson.