Private Banks On A Hiring Spree In Asia

Source: The Wall Street Journal

With the number of Asia’s rich growing rapidly, private banks see its businesses booming and have gone through a hiring spree, according to a latest report by the Wall Street Journal.

This year, UBS has hired 130 clients advisors, leading its private-banking head count in Asia to more than 1,100. Credit Suisse Group has increased its private-banking staff by 7 percent over the past year.

The speed of wealth creation in Asia has attracted more young graduates to work in wealth management rather than in the investment banking or sales and trading which were one of the most popular sectors among graduates to work in the past.