By Howard Winn
Changes are afoot in the finance industry, with cut backs in commodities, disenchantment with investment banking and the continuing off shoring.
Head hunters in Singapore, Hong Kong and Sydney say that an increasing number of finance professionals are making radical career changes, efinancial careers reports.
Tougher regulations and the increased power of compliance officers in banks diminished prospects for quants specialists. So, instead of offering ideas to the traders in the front office, many quants are now opting for the middle office and risk management, the website says.
In addition, with the big banks trimming the number of managing directors over the past year, a number of these displaced persons are taking jobs as consultants with small local banks in developing markets such as Indonesia, Myanmar and Vietnam.
Their assignments include developing business strategies, compliance frameworks and trading platforms,” Pan Zaixian, a general manager of Singapore search firm Kerry Consulting, told the website.
Disgruntled investment bankers are also leaving to take advantage of the recent uptick in in house M&A jobs with companies planning acquisitions.
These are mostly junior and mid level positions and alas often entail a drop in salary.
Headquartered in Singapore, Kerry Consulting is an Executive Search Company with 6 Asiamoney Headhunters Poll Awards since 2009.
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