Hong Kong to Singapore job moves have run out of steam

Posted by PSR_AXP 34 days ago
Financial institutions have largely ended their risk-mitigating relocations of staff from Hong Kong to Singapore, which began about 18 months ago in response to the former city’s tough quarantine rules and uncertain political environment. That’s according to senior Asia-based recruiters from financial institutions who attended a recent eFinancialCareers round table.
“Most firms had a target for de-risking Hong Kong, and they’ve achieved that now,” said a round table delegate, who like his counterparts at the event asked not to be named in this report. “We’re not looking to actively relocate jobs anymore, and a lot of new roles are now advertised in both markets,” added another recruiter.
Meanwhile, round table delegates in Hong Kong expect to receive more applications from overseas candidates following Hong Kong’s decision to axe its stringent hotel quarantine rules, and the recent announcement by Hong Kong Chief Executive John Lee that he wants to “trawl the world for talents”.

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