M&A Jobs – Focus on Asian Markets
The rapid growth in M&A in Asia is creating a boom in M&A jobs. M&A is picking up nicely in North America too. However, in the initial stages of the rebound, some fresh recruits may find it difficult to compete with more experienced candidates. The press is full of reports of investment Bankers being hired back by former employers and competitors. If you find yourself being elbowed out of domestic M&A jobs, why not spend a summer, or longer, gaining global M&A experience in Asia?
Asia is getting most of the credit for the 39 percent increase in merger and acquisition deal flow in the first quarter of 2010 versus the same period a year ago. During this time, M&A activity increased 20 percent in Asia, according to the IntraLinks Deal Flow Indicator. Over the same period, North American and Latin America were up four and two percent, respectively. Most of the Asian deal activity has come from energy, mining and utilities. Telecoms and media also are heating up. There is lots of M&A work to go around.
There are two ways to work the Asian M&A jobs play.
Relocate to Asia
Vast opportunity is in front of you, if you are willing to move to Asia. There are many junior positions to be filled in large investment banks. Ongoing expansion in M&A boutique banks and advisory services is another growth market. Local specialists are valued and part of almost every deal.
Market Your Asian Assets at Home
The second way to participate in the Asian boom is to be an Asian specialist located in the Western market. These positions are often filled by those with Asian experience, typically a native of one of the Asian countries with fluency in one or two foreign languages. However, there are many Western bankers with some Asian experience who also can get these positions.
How to get in the door
A referral in the Asian market is the ticket. Tap your contacts – e.g. your Chinese friend from college whose uncle heads corporate banking for XYZ Bank in Hong Kong…
Gain Asian experience at home: Standard Chartered and HSBC are known to have deep reach into Asia and routinely transfer staff around the globe. Today, all of the bulge bracket banks have major presences in Asia and regularly do office transfers.
Everyone! Here is just a snapshot of recent announcements.
CitiGroup: It is widely reported that CitiGroup is looking to hire 200 new recruits in Singapore, as well as staff in Hong Kong, China, India and other Asian markets
Bank of America is seeking to hire 30 people in corporate banking in Japan. BusinessWeek reports that these are senior and junior lending and cash management positions.
HSBC is hiring 300 people in Hong Kong in wealth management.
Nomura plans to hire 15% to 20% more people in its global banking business as part of its plans to become a top M&A advisor, according to .
Bulge Bracket Shuffle
One way to find where the M&A job opportunities are is to monitor senior-level hires. Based on the number of senior hires reported by the Financial Times in Investment Banks in India, it is evident that there will be a lot of hiring in the ranks in India.
Tap on many doors in Asia. Most major investment banks are adding M&A staff to respond to the growing market demand.