FIRST NUMBERS
Finance experts in Singapore Singapore -
Around Aroundthe theworld world
Finance professionals in 2014: 2014: Career driven, loyalists or or opportunists? opportunists?
26%%
What What they they are are looking looking for? for?
most mostactively actively
looking for looking foraa 11 new newposition position... ...
34% 34% 37%
Career Career prospects prospects
UK 34% UK 34% US 43% US 43% SG 41% SG 41% HK 34% HK 34% Aus 37% Aus 37% GU 53% GU 53% 34% 34% FR 26% FR 43% 26% 43% DE 13% DE 41% 13% 41%
93%
Finance Financeprofessiona professiona in Gulfare are inthe theGulf
opportunities opportunities
UK UK US US SG SG HK HK Aus
of finance finance professionals professionals of actively in Singapore Singapore are are actively in or open open to looking or to looking
36%%
Increased Increased compensation compensation
What keeps keeps What Singapore’s finance finance Singapore’s professionals professionals
most mostenj en
1. 1. Goldman Goldman Sachs Sachs
most happy happy most
at work? work? at
Finance FinanceProfe Prof
in inthe theUK UKaa find findtheir theirwork wor
3. DBS Bank 3. DBS Bank
People they People they work with work with
UK UK US US SG SG HK HK Aus Aus GU GU FR FR DE DE
77% 24% UK 77% 24% 77% UK 77% 74% 26% 26% US74% 74% US 74% 62% 39% 62% 39% 62% SG SG 62% 65% 35% 65% 35% 65% HK HK 65% 77% 23% Aus 77% 23% 77% Aus 77% 61% 39% GU 61% 39% 61% 68% 32% GU 61% FR 68% 32% 68% 72% 28% FR 68% DE72% 72% 28% DEPlease note total may72% not add
Top 3 employers Top 3 employers of of in Singapore in Singapore
choice choice
Recent fiscal reforms add NPL visibility
Singapore -
toPlease 100 due to rounding note total may not a to 100 due to rounding
1 Q: Which of the following best describes your current employment situation? A: Actively seeking. Open to opportunities. Not interested in changing jobs. Q:Which Is yourofcurrent employer andescribes enjoyable your placecurrent to workemployment at? A: Yes. No. 12Q: the following best situation? A: Actively seeking. Open to opportunities. Not interested in changing jobs. Q:Is Regardless of your level an of satisfaction with your job,at? on A: a scale 1-3 how burnt out do you feel? A: 1. Not at all. 2. Somewhat. 3. Totally burnt out. 23Q: your current employer enjoyable place to work Yes. of No. 3 Q: Regardless of your level of satisfaction with your job, on a scale of 1-3 how burnt out do you feel? A: 1. Not at all. 2. Somewhat. 3. Totally burnt out.
Finance professionals in 2014: Career driven, loyalists or opportunists?
53%
Finance professionals in the Gulf are
73%
Around the world
Reforms address Chinese banks’ NPLs
N
77%%
2. JP Morgan 2. JP Morgan
Aus
Please note total may not add up to 100 due to rounding
DE
FR
10%
GU 19%
Aus 12%
20%
Aus UK GU US FR SG DE HK 12% 10% 19% 13% 20% 18% 10% 14%
3
HK
US 13%
UK
65%
56%
56%
53%
HK
Aus
US
GU 52% FR 45% DE
40%
53%
Aus
HK
45% US
SG
52%
UK
28%
10%
1 Q: Which of the following best describes your current employment situation? A: Actively seeking. Open to opportunities. Not interested in changing jobs. 2 Q: Is your current employer an enjoyable place to work at? A: Yes. No. 3 Q: Regardless of your level of satisfaction with your job, on a scale of 1-3 how burnt out do you feel? A: 1. Not at all. 2. Somewhat. 3. Totally burnt out.
73% UK
65%
53%
HK
Aus UK GU US FR SG 12% 10% 19% 13% 20% 18%
14%
SG 18%
FR UK 10%
13% DE US
GU
40%
DE 13% 56% HK
Aus
FR
SG
GU 40% 52% Aus FR UK GU 45% DE US 52% FR SG 56% DE HK 53% Aus 40% GU 65% FR 73% DE
Aus
12%
HK
14%
SG
US 13%
10%
UK
HK 14%
SG
32%
1 Q: Which of the following best describes your current employment situation? A: Actively seeking. Open to opportunities. Not interested in changing jobs. 2 Q: Is your current employer an enjoyable place to work at? A: Yes. No. UK how burnt out do you 77% 3 Q: Regardless of your level of satisfaction with your job, on a scale of 1-3 feel?24% A: 1. Not at all. 2. Somewhat. 3. Totally burnt out. UK 77% 24% US 74% 26% US 74% 26% SG 62% 39% SG 62% 39% HK 65% 35% HK 65% 35% Aus 77% 23% Aus 77% 23% GU 61% 39% GU 61% 39% FR 68% 32% FR 68% 32% DE 72% 28% DE 72% 28% Please note total may not add up to 100 due to rounding
SG
52%
53%
56%
39%
3
14%
77
52%
52% UK
DE 13%
73%
53% 65% GU
US
UK
28%
73%
65%
32%
Please note total may not add up to 100 due to rounding
1 Q: Which of the following best describes your current employment situation? A: Actively seeking. Open to opportunities. Not interested in changing jobs. 2 Q: Is your current employer an enjoyable place to work at? A: Yes. No. 3 Q: Regardless of your level of satisfaction with your job, on a scale of 1-3 how burnt out do you feel? A: 1. Not at all. 2. Somewhat. 3. Totally burnt out.
45%
53%
37%
FR
GU
26%
34% HK
SG
56%
53%
34%
HK
GU 52% FR 45% DE26% 52%
37% 40%
Aus
HK
Aus
SG
SG
72%
18%
23%
HK
US
SG
10%
35%
US
DE 13%
FR
39%
68%
28%
23%
Please note total may not add up to 100 due to rounding
UK
26%
UK
53%
72%
61%
32%
39% 35%
77%
39%
26%
18%
28%
68%
65%
77%
39%
77%
61%
62%
UK 12% 10% 19% US 13% 20% SG 18% HK 10% 14% Aus 12% GU 19% FR 20% DE 10%
32%
65%
26%
24%
74%
23%
13%
39%
37%
34% HK
US
23%
74%
62%
GU
GU 34% FR 26% 43% DE 13% 41%
35%
24%
Aus
US
GU 34% 52% FR 26% 45% 43% DE 13% 41% 52% UK
US
35%
SG
DE
39%
77%
US
37% Aus
GU 34% FR 26% 43% DE 13% 41% UK
53%
37% Aus
UK
39%
18%
36
FR
26%
Aus
GU
24%
SG
Aus
77% UK 74% US 62% SG 65% HK 77% Aus 61% GU 68% FR 72% DE
UK
SG
Aus
US
HK
SG
US
UK
UK
77%
26%
1 Q: Which of the following best describes your current employment situation? A: Actively seeking. Open to opportunities. Not interested in changing jobs. 2 Q: Is your current employer an enjoyable place to work at? A: Yes. No. 3 Q: Regardless of your level of satisfaction with your job, on a scale of 1-3 how burnt out do you feel? A: 1. Not at all. 2. Somewhat. 3. Totally burnt out.
HK
12 ASIAN BANKING AND FINANCE | DECEMBER 2014
24%
52%
DE 13%
52%
77 1
77
77% UK 74% US 62% SG 65% HK 77% Aus 61% GU 68% FR 72% DE
US
43%
1
1
45%
DE
53%
37%
34%
43%
41%
34%
Aus FR
41%
HK
US
26% FR
GU
HK
Aus
SG
HK
GU
34%
93%
26
US
UK
SG
36
HK
SG
US 53%
UK
37%
34%
UK US
36
SG
UK
43%
41%
34%
53%
37% Aus
1
GU 34% FR 26% 43% DE 13% 41%
43%
41%
34% HK
34%
26
SG
US
UK
% 93 93%
36 26
34%
93%
26
34%
most actively on-performing loans (NPLs) trading pattern,” says Yan. looking for a % new position ... they are may swing upward, but a She explains that new fiscal reforms What looking for? Career prospects slew of reforms meant to will likely increase transparencyof Singapore Around the world alleviate asset quality pressure should local governments’ balance sheets and Financeaccess professionals in 2014: keep fears in check. In recent years, broaden financing most ... of through finance professionals Finance professionals andopportunist the Career driven, loyalists in Singapore are actively in the Gulf are Chinese banks have had very low bond financing. It will also diversify Singapore - looking or openortoopportunists? Around the world are in Germany most actively reported new NPL formation and revenue streams through new Finance professionals in 2014:taxes opportunities Finance professionals looking for a % Career driven, loyalists or opportunists? net credit costs. This could rise going and reduced reliance on land sales. Increased the Gulf are new position ... Professionals What they are %in Finance compensation most actively in the UK and Australia looking for? forward for all banks, warns Ismael Successful implementation could also Career looking % find their workplace prospects for a What keeps Pili, analyst at Macquarie. new position ... partly mitigate concerns over What they are local most enjoyable2 1. Goldman Singapore’s finance looking for? Career Their colleagues in But May Yan, analyst at Barclays, government financeprofessionals vehicle debts and Sachs prospects % 2. JP Morgan the Gulf and Fran most happy has a more optimistic view, expecting propertyofNPLs. are most moo ...the and theburnt finance professionals at work? a moderate rise in NPLs at around 5% The reduced risk surrounding opportu actively in Singapore are most ... and the of finance professionals 3. DBS Bank are in Ger to People they looking opportunist quarter-on-quarter, an improvement actively inthe Singapore are property sectororisopen significant work with are in Germany.1 or open to looking opportunities Singapore Around the world on the 7.3% increase in 1Q14. She for Chinese banks, given their opportunities Finance professionals in 2014: believes short-term asset quality substantial exposure. Jonathan % IncreasedFinance Finance Professionals Top 3 employers professionals Increased % Finance Professionals Career driven,managing loyalists or opportunists? compensation pressure should continue to be Gulf are in the of Cornish, director, financialcompensation choice in the UK and Australiain the UK and Australia most actively Singapore find their workplace alleviated as a result of the targeted What institutions at Fitch Ratings, says find in their workplace keeps looking for a What keeps % enjoyable2 most enjoyable2 1. Goldman new position most ... What they are monetary loosening measures 1. Goldman property development and mortgages Singapore’s finance Singapore’s finance Their colleagues in Sachs Their collea looking for? Career Sachs professionals % 2. JP Morgan introduced earlier in the year. reportedly account for more than the Gulf and France professionals prospects 2. JP Morgan most happy the Gulf and are the most burnt out most happy 20% of the loans of the banks covered are the most at work? UK 77% 24% at work? 3. DBS Bank Reducing uncertainty by the ratings agency. UK 77% 24% People they most ... and the of finance professionals US 74% 26% 3. DBS Bank US 74% 26% In the long-term, recently approvedin Singapore Total work with People exposure could even opportunist are actively theybe SG 62% 39% SG 62% 39%1 are in Germany. or open to looking fiscal reform should further add NPL higher when taking into account HK 65% 35% work with HK 65% 35% opportunities Aus 77% 23% Top 3 employers visibility and reduce uncertainty for possible misclassification of loans Aus 77% 23% GU 61% 39% of Increased % compensation Finance Professionals GU choice Top 3 employers 61% 39% investors eyeing Chinese banks, says and exposures that reside off-balance FR Australia 68% 32% in Singapore in the UK and FR 68% 32% Yan. Among these reform measures sheet. DE 72% 28% of choice find their workplace DE 72% 28% What keeps 2 These reform is the state-owned Assets Supervision Concern over NPLs comes at a most enjoyable 1. Goldman in Singapore Singapore’s finance Their colleagues in Sachs plans, if and Administration Commission’ s time when banks are fighting to professionals % 2. JP Morgan the Gulf and France most happy successfully are the most burnt out plan to institute reforms in six large earn enough profits. In the first half at work? implemented, state-owned enterprises. of 2014, Chinese 3.banks reported DBS Bank People they could improve “These reform plans, if successfully ‘decent’ average profit growth of 10% work with the visibility implemented, could improve the year-on-year. This was due to strong of Chinese visibility of Chinese banks’ NPLs loan growth and steady net interest Top 3 employers banks’ NPLs in in the medium to long term, which margin, although aofspike in nonchoice Source: eFinancial Careers could in turn help Chinese bank performing loans could drag it down the medium to in Singapore long term. shares to break out of their rangeto more tepid levels.