17 May '11, 9pm

HSBC plans hiring spree in Singapore, China

HONG KONG - HSBC Holdings plans to hire at least 2,000 people in mainland China and in Singapore over the next five years, as the British banking giant continued its push to capture wealth in the Asia-Pacific region, the fastest-growing part of its business. This so, even as it planned to cut costs globally. The bank plans to expand its Singapore workforce by about 1,000 people as wealth migrates there from Malaysia, Indonesia, the Philippines and China. It also plans to add at least 200 employees in China every year through 2016, said Mr Peter Wong, chief executive officer for the Asia-Pacific region. "Opportunities for growth are many in China because all the foreign banks combined only account for 2 per cent of the market share," said Mr Wong in an interview in Hong Kong with Bloomberg that aired yesterday. "It depends on how open the Chinese financial market is going t...

Full article: http://www.todayonline.com/Business/EDC110518-0000185/HSB...

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