Bankers looking for a career boost are facing up to a clear choice: go East. With City job losses soaring finance workers are looking to Hong Kong, Shanghai and Singapore for new opportunities.
A survey from the recruitment house Astbury Marsden shows that 73 per cent of City staff expect most new banking jobs to be created in South-east Asia, with Shanghai seeing the biggest jump in new positions.
Only 11 per cent of bankers and hedge fund workers think London will create the most new banking jobs over the next 12 months – down from 22 per cent a year ago. Mark Cameron, chief operating officer at Astbury, said: "The centre of gravity continues to move towards China."