BANKS ACTIVELY HIRING FINANCE, COMPLIANCE AND RISK MANAGEMENT PROFESSIONALS

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1 In Q2 2017, the Hong Kong job market for Banking & Financial Services had a very slow start. Due to approvals needed for new positions, and additional considerations for replacement headcounts due to attrition, most job movements happened towards middle to end of the quarter. The Banking sector, though not at the volume we expected, was hiring all levels of professionals for different support functions. BANKS ACTIVELY HIRING FINANCE, COMPLIANCE AND RISK MANAGEMENT PROFESSIONALS In Q2 2017, Finance and Risk Management functions had a healthy need for resources at the mid- to senior levels, including C-suite positions. Financial Crime and Regulatory Compliance positions have been numerous throughout Q2, particularly at the junior level, with some banks expanding their local teams. At the senior end, though not at the same numbers, there has also been a demand for similar profiles. NEW POSITIONS ACROSS SUPPORT FUNCTIONS PREVAILED In the second quarter, financial institutions continued to create new positions for support functions including Account Opening, Client Due Diligence and Client Services, particularly within the private banking industry. We have also come across some mid- to senior-level roles in the Operations Project Management space, though these were limited headcounts due to restructuring in bigger financial institutions. Internal Audit roles for various business lines at different levels were all predominant in Q Insurance and Securities businesses also saw ad-hoc talent demands for different support functions. RETAIL BANKING HIRING REMAINED BUSY Strong competition within the Retail Banking space resulted in numerous positions in Sales & Marketing functions in Q2. Several banks have been seeking candidates with experience in Digital Banking, Marketing, Product Development, Relationship and Account Management, as well as Telemarketing. NO SLOWING DOWN FOR THE BUY-SIDE INDUSTRY Investment management, private equity, venture capital and hedge fund firms had a very healthy talent demand at the junior to mid-level back office functions. These buy-side firms sought after consummate skills in Corporate Accounting, Fund Accounting, Fund Finance and Fund Operations. There was also a demand for more specialist areas including Research Analysis, Portfolio Analysis and Corporate Finance.

2 HIRING ACTIVITIES WILL CONTINUE WITH LONGER PROCESSES IN Q The first half of Q will remain busy as recruitment processes continue from Q2, with an expected slowdown as we approach the summer period. Retail and Private Banking will continue to look for both frontline and support staff with skills in areas such as Sales, Digital and Cross-border Marketing, Client Services, Client Due Diligence, and Compliance. For the mid- to senior-level positions in Banking, banks will continue to seek for professionals in Internal Audit, Compliance (products and surveillance), Financial and Management Reporting, as well as Operations-based Project Management. BE COMPELLING TO ATTRACT TALENT Banks and other financial institutions, in the bid to engage top talent in the market, will have to place salary as a key consideration. We have seen very competitive increments between 15-20% for positions that were hard-to-fill or have been opened for a long time. In attracting the right talent to work for the business, it is important that interviewers in the hiring process highlight different selling points of the role, which need to include the stability of their own firm and management team, working hours, progression, and company culture. These are all crucial factors that potential hires consider when it comes to making career decisions. SALARY REPORT FOR Q3 2017* Investment Banking Job Title Internal Audit Managing 2.2M+ 1.7M 2.1M 1M 1.6M 600K 900K 360K 600K 300K 420K Compliance Managing 2.3M+ 1.8M 2.2M 1.1M 1.7M 720K 1M 380K 680K 310K 430K

3 Management Reporting / Financial Planning & Analysis Managing 2M+ 840K 1.4M 600K 780K 320K 560K 240K 380K Product Control Managing 2M+ 1.5M 1.8M 900K 1.5M 600K 900K 420K 540K 300K 420K Regulatory Reporting / Financial Accounting Managing 2M+ 840K 1.4M 540K 780K 260K 500K 240K 380K CFO Regional Chief Financial Officer Country Chief Financial Officer 2.2M+ 1.8M+

4 Tax Managing 2.2M+ 1.7M 2.0M+ 960K 1.6M 540K 900K 400K 540K 220K 360K Operations (Settlements / Corporate Actions / Treasury) Managing 1.8M+ 1.2M 1.8M 660K 1.2M 480K 720K 360K 500K 240K 390K Operations (Client On-Boarding / KYC Operations) Managing 1.8M+ 600K 800K 400K 580K 260K 420K

5 Middle Office (Trade Support / Sales Support / Client Services) Managing 1.8M+ 900K 1.4M 620K 900K 420K 620K 265K 420K Project Management Managing 2M+ 960K 1.5M 720K 960K 480K 700K 360K 470K Credit Risk Managing 2M+ 1.5M 1.8M 800K 1.4M 500K 800K 360K 600K 240K 360K

6 Market Risk Managing 2.2M+ 1.7M 2M 960K 1.6M 600K 900K 480K 600K 300K 500K Operational Risk / Internal Control Managing 2M+ 1.5M 1.8M 900K 1.5M 600K 900K 360K 600K 240K 420K Private Banking, Asset / Fund Management & other Financial Services Job Title Operations Senior 720K 1.1M 580K 720K 500K 600K 360K 520K

7 Regulatory Reporting / Financial Accounting Senior 720K 1.1M 540K 720K 450K 540K 200K 420K Management Reporting / Financial Planning & Analysis Senior 720K 1M 560K 720K 450K 550K 240K 460K Internal Audit / Risk Senior 540K 780K 360K 540K 240K 380K Compliance Senior 540K 780K 360K 540K 240K 380K

8 Insurance Job Title Operations Senior 1.1M+ 680K 1M 480K 660K 350K 500K 216K 330K Regulatory Reporting / Financial Accounting Senior 660K 1.1M 480K 660K 350K 460K 150K 350K Management Reporting / Financial Planning & Analysis Senior 780K 1.1M 540K 720K 480K 530K 220K 400K Tax Senior 750K 1.3M 540K 720K 360K 480K 200K 360K

9 Internal Audit / Risk Senior 540K 780K 360K 540K 240K 360K Compliance Senior 480K 780K 360K 540K 240K 360K * Notes about salary table: 1. Titles and levels vary from organisation to organisation. 2. The salary ranges given are only approximate guides. For tailored salary advice, please contact us directly month base salaries are assumed. 4. All other benefits and bonuses are in addition to these figures. 5. Bonus ranges can vary significantly from company to company and will be influenced by market conditions, business and individual performances. Bonus ranges from 1 month at the low end to 100%+ at the upper. 6. Holiday entitlements range from days with senior executives not usually receiving less than 18 days. Less than 15 is very rare and 20 days is becoming the norm. 7. Healthcare policies are standard. 8. Pension plans vary with some companies offering greater than the standard contribution. Top up schemes can increase employer contribution levels as much as 15 20% of the base salary for senior executives.