Selby Jennings Hong Kong

PBOC Sanctions to Ensure Fintech Develops in a Healthy Way


Hong Kong, China -- (SBWIRE) -- 08/04/2021 -- Fintech has been a significant growth area and has exciting potential for those pursuing financial services careers in Hong Kong. However, the People's Bank of China (PBOC) is currently taking steps to rein in the monopolistic behaviour that many fintech firms have been displaying. Most recently, Jack Ma's Ant Group has been on the receiving end of sanctions from the PBOC. According to the central bank, Ant Group is not the only offender as many other mobile payment companies have breached anti-monopoly laws and the PBOC intends to take action against them. While this is likely to have a slowing effect on the fintech sector in the short term, the idea behind the action being taken is to ensure that the fintech sector develops in a healthy way in this part of the world in the future. The statement of action by the PBOC came shortly after a pledge by the State Council to overhaul the way that companies raising capital are regulated.

Selby Jennings provides specialist support for those looking to carve out financial services careers in Hong Kong and has been working within the industry since 2004. The firm has extensive experience in the Asia Pacific region and works with a broad spectrum of organisations, from agile start-ups in areas such as fintech to very well established names in investment banking. The firm's hiring expertise is broad and extends to many different fields, including legal and compliance, sales and trading, quantitative research and trading, risk management and private wealth management. Talented consultants work with candidates drawn from a database of more than a million mid-to-senior professionals, making key connections with employers across the industry. Permanent, contract and multi-hire solutions create opportunities for growth for all those involved, from individuals who are keen to take a career-defining next step to organisations that are looking to build resilience through exceptional hires.

Ever since the firm was first established, Selby Jennings has been able to offer a unique combination of international perspective and local insight. The firm is a recruitment partner of choice to hundreds of industry-leading enterprises as part of the Phaidon International group, for example, and integrated into a network that is made up of a 750-strong international workforce covering 60 countries worldwide. Consultants have a deep understanding of financial services careers in Hong Kong, as well as opportunities in a whole range of other areas, and are passionate about supporting them. The firm ensures that its team is working with best-in-class recruitment technology and strategy so as to be able to deliver consistently excellent support. There are many different roles available via Selby Jennings, for those seeking to develop financial services careers in Hong Kong, as well as many other fields. These include Customer Success Manager, VP Compliance [Hedge Fund], Infrastructure Engineer and AVP [Credit Risk].

"Like many sectors, 2020 marked a defining moment for recruitment. Challenged by uncertainty, but unwavering in our commitment to our clients, we enter 2021 with a sense of duty to clients and candidates", commented Andrew McNeilis, Managing Director at Selby Jennings. He went on to say, "as we reflect on the challenges of virtually securing and retaining talent, we're inspired by a team who have demonstrated a remarkable ability to adapt and continue to help all our clients secure top talent on a global scale."

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About Selby Jennings
Selby Jennings creates a range of recruitment solutions that are designed to support the growth of organisations across the financial services sector. Transforming the way that hiring is handled is a tool that any business can use to build in resilience and potential even in challenging times.