Tough Situation for Laid Off Bankers in Asia

If you’re an equity researcher in Asia worried about the global and local headwinds that are battering your job function, the news about Nomura today will only heighten your anxieties.

The bank has trimmed eight out of nine staff from its Singapore equities research team as it looks to scale back overseas under a new plan to revive its business, reports Bloomberg. We understand that the eight people include a team assistant and an editor as well as equity analysts. Nomura decline to comment for this article.

In most job sectors, redundancies on this scale in a financial centre the size of Singapore wouldn’t be alarming. But the Nomura cuts follow a three-year period of layoffs in Asian equities (research as well as sales and trading) – and they suggest the jobs rout is not yet over.

Deutsche Bank made redundancies in its Asian equities team last year, while Credit Suisse culled dozens from its regional equities operations in 2017. Barclays, along with several other banks, trimmed Asian equities jobs in 2016, while Standard Chartered has shuttered its team altogether.

https://news.efinancialcareers.com/sg-en/3000671/the-people-nomura-has-just-cut-in-singapore-won-t-find-it-easy-to-land-new-jobs/

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One big reason why 40-year-old bankers in Asia don’t get new jobs


https://news.efinancialcareers.com/sg-en/3000984/write-cv-40-year-old-bankers-asia