By Scott Johnson of Ignites Asia
Global executive search firm Sheffield Haworth is placing a bet on the continuing growth of Asia’s wealth and asset management industry with plans to expand its business in Hong Kong, Singapore and Sydney.
The firm is among several headhunters that have either made new additions to their teams or that say they expect to hire additional consultants and researchers in the next year.
Their plans for the region may serve as a bellwether for coming hiring trends. The optimism of global headhunters in particular suggests that the war for talent wears on, with some firms looking to bring senior leaders into the region from the U.S. and Europe.
“Asset management companies are traditionally quite conservative, so it’s taken them slightly longer to put their heads back above the parapet,” says Simon Roberts, Hong Kong-based COO and head of Asia for Sheffield Haworth.
“Assuming markets can remain relatively stable, these asset management companies are going to be looking to press the button and get on with hiring in the light of improved market sentiment.”
In turn, Roberts expects business growth across the firm’s offices in Hong Kong, Singapore, Delhi, Mumbai and Tokyo. The firm is exploring an expansion to Sydney, which could draw on several of its practices, and it is looking to hire “an established player” to oversee private wealth searches.
Roberts says he “could see” Sheffield Haworth also hiring a practice leader to focus on China, though he notes that’s “something we haven’t wanted to rush into”.
“We’ve historically worked on China roles out of Hong Kong,” says Roberts, though the firm “wouldn’t rule out in time having someone based in the mainland.”
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