Finance firms in Hong Kong want Mandarin speakers, not expats

Posted by PSR_AXP 28 days ago
KKR has built a massive Asian business with less than 1% of staff as expats
Joe Bae, KKR’s co-chief executive, has built the firm’s Asian business from scratch into one that employs 350 people and is the biggest international alternative investment fund in the region.
The firm is continuing to expand in the region and in May unveiled its inaugural $1.1bn credit fund, the biggest first-time fund-raising in the region.
Bae told Alison Mass, chairman of Goldman Sachs’s investment banking division, in an interview last month that the success is down to recruiting local talent. Bae launched the KKR business in Asia in 2005 as a start-up and he had a clear vision of the talent he wanted to recruit.
“What we didn't want to be is this big US firm coming to Asia, trying to do business in a very western style. So, today we have eight offices. We have over 350 executives on the ground. I think we have maybe three expats on the team. Everybody else is localized.” 

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