Top 10 Banking Employers in the World’s Top Growth Market
“The key thing about Asia is it’s the one market where you’re going to see growth”–Andrew Sullivan, a sales trader at Mainfirst Securities Hong Kong Ltd, quoted in Businessweek last month.
While the quote above could have described the Asia-Pacific banking world at any point since the collapse of the sub-prime mortgage industry, it’s especially true today. While banks and financial houses of all stripes are still struggling with the post-meltdown landscape in the US and Europe—and likely to face a raft of new legislation in both spheres in the coming weeks and months—the industry in the Asia- Pacific region is booming. For evidence, witness behemoth Bank of America’s recent hiring push in the region, together with the fact that Goldman Sachs recently experienced what it feels like to be on the losing end of a transaction—the luring of a key Asia-Pacific executive to BTIG being the occasion that prompted the quote at the top of this piece.
Not that it’s worth fretting over Goldman’s future in the region: just like everywhere else in the world, the company is sitting pretty atop Vault’s 2010 ranking of Asia Pacific banking employers. And, while it may have lost a key exec to a smaller rival, the very fact that that exec was willing to jump for the opportunity to build BTIG into a bigger player in the region suggests that there are some very bright days ahead for banking in the region.
As Vault’s top 10 list of banking employers within the region shows, it’s an area still dominated by major players from the US—five of the top 10 are US firms:
1. The Goldman Sachs Group, Inc.
2. J. P. Morgan Investment Bank
3. Morgan Stanley
4. Deutsche Bank AG
5. The Blackstone Group
6. HSBC Holdings Plc
7. Credit Suisse Group AG
8. UBS Investment Bank
9. Citi Institutional Clients Group
10. Barclays Capital
However, “local” players such as Nomura and MacQuarie make appearances just outside the top 10, and suggest that there is much more to come from this region in the coming years.
Get the full scoop on the top banking employers in the Asia-Pacific region–plus our full top 25– in the Vault Guide to the Top Banking Employers, Asia Pacific Edition.