Out-of-work MDs consider more junior roles

Advertise for a VP or SVP role and you expect applications from investment bankers who are working their way up the career ladder. But that’s not always the case these days headhunters in Asia say they are receiving a handful of CVs from MDs who are applying for more junior positions.

Large investment banks have cut senior staff in Asia, and a poor recruitment market has left many of them out of work for months. For some, a downwards move is an option. “I’ve had front-office MDs call me from Europe about fixed-income finance manager jobs in Asia,” says Pernille Storm, managing director, ALS International.

She has...