After a tough bonus season, western banks don’t officially have hiring freezes in their APAC businesses, but there’s also not excepted to be much recruitment activity during the first quarter.
With China emerging from three years of COVID lockdowns, banks are adopting a cautious approach and are hoping to see an uptick in activity before hiring again. With many bankers getting zero bonus and banks cutting staff, there’s unlikely to be any senior hiring in the foreseeable future.