Discover your dream Career
For Recruiters

J.P. Morgan is quietly hiring more analysts in Asia, others will follow

The analyst hiring season is supposed to be over in Asia – most banks stopped receiving applications for 2018 analyst jobs back in November. This year, however, US banks in Hong Kong aren’t satisfied with bringing in fresh grads – they are set to increase their recruitment of 'experienced analysts', juniors who’ve worked for rivals for one or two years, say recruiters.

Some of these new analyst jobs are already opening up, now that US banks have paid bonuses. More are expected to come online – at a higher rate than in 2017 – during the busy post-Chinese New Year hiring period, says a Hong Kong-based headhunter.

J.P. Morgan, which employs about 100 investment banking analysts and associates in Asia, is leading the pack so far. It already has Hong Kong analyst vacancies in its debt capital markets, strategic investors group, and East Asia teams, all of which call for some front-office experience and aren’t open to grads.

In an unusual move in Singapore, JPM’s website is tempting juniors with “anticipated openings” for investment banking analysts and associates, suggesting it will ramp up junior recruitment in the city state later this year.

The new J.P. Morgan roles in Hong Kong demand fluency in English and Mandarin, which reflects the growing need this year for US banks to hire bi-lingual juniors who are comfortable working with mainland Chinese clients.

In M&A, bi-lingual analysts are typically assigned to advise Chinese companies that are expanding overseas. US banks’ cross-border expertise still gives them an edge over their Chinese counterparts within M&A, a field in which Western firms took eight of the top 10 spots for Asia (ex-Japan) M&A revenue last year, according to Dealogic.

In capital markets, new recruits are required to combat the threat from Chinese banks, which are rising up Asian league tables and displacing Western institutions from Hong Kong IPO work. Both Citi and Morgan Stanley have created ECM analyst jobs in Hong Kong over the past two weeks, according to their careers websites.

But why take a new analyst job when you’re already at the same level elsewhere? Junior bankers usually move without a promotion if the new role is more specialised, says the headhunter. J.P. Morgan assigns experienced analysts to industry, country coverage or product teams, for example. Other analysts shift banks soon after completing a graduate training programme, if they feel it didn’t live up to expectations.

Image credit: themacx, Getty

author-card-avatar
AUTHORSimon Mortlock Content Manager

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.