Now, in a reverse miniature brain drain, Chinese financial institutions are taking advantage of the downturn and focusing on the newly unemployed to diversify and upgrade their own staffs.
“We’re looking very hard right now for experienced, senior-level talent who have knowledge of China. For our junior-level positions, we continue to recruit from our local Chinese talent pool,” said Hong Chen, the chief executive of the Hina Group, a boutique global investment bank.
Holy Cow Batman! Sure looks like the Joker pulled a fast one one us!
Institutions here are looking for people to fill senior positions overseeing risk management, compliance and derivatives. Most importantly, they’re looking for people with a global view,
said Qin Wang, 32, a banker and a member of the Chinese Finance Association
Now don't count your Peking Ducks before they're hatched. If you're thinking easy career ladder
because you happen to be an American who is fluent in any Chinese dialect as well as risk management, think again...
For many ambitious overseas candidates, a matter of worry is that they are all but guaranteed to hit a glass ceiling at state-run Chinese companies. Senior management is appointed by the personnel department of the Communist Party — regardless of the votes or recommendations of shareholders or board directors.
Global is as global does...
For a related article on how China prepares students for the world of finance, click here