Out-of-work MDs consider more junior roles

Recruitment agencies in Asia say they are getting CVs from former managing directors applying for lowly positions as vice presidents.
<div style="text-align: left;">
Desperate for work, bankers are taking a step down the corporate ladder
</div>
<div style="text-align: left;"> Desperate for work, bankers are taking a step down the corporate ladder </div>

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...

¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222