Running to Financial Subsidiaries: Small and Medium-sized Securities Firms Are Tending to Public Offering Few

category:Finance
 Running to Financial Subsidiaries: Small and Medium-sized Securities Firms Are Tending to Public Offering Few


Recruitment Chairman

On the talent supply side, 21st century economic reporters gathered the views of many public funds, securities dealers, insurance management, private equity funds and bank insiders; on the talent demand side, the reporters also asked the views of two state-owned big banks and the heads of capital management departments of joint-stock banks. Generally speaking, the enthusiasm of internal selection and interview in banks is relatively high, but it can not meet the needs of some posts such as investment and research; there are a lot of talents flowing out from securities firmsmanagement and private placement in the market, and a considerable proportion of them have participated in the recruitment of financial subsidiaries, but the banks mainly favor the employees of securities firms who have more voice in the market; and financial management with banks. Subsidiaries are most suitable for public funds, but they do not show a strong enthusiasm to apply for financial subsidiaries.

What kind of talents do financial subsidiaries lack most?

On June 19, China Postal Savings Bank, the only state-owned bank approved to build, openly recruited its chairman to the public. According to their requirements, they should be engaged in financial work for 8 years or more, or related economic work for 12 years or more (including financial work for 5 years or more), and continue to hold senior and middle management positions for 3 years or more. Age is under 48 years old in principle. Experience in asset management in large financial institutions is preferred.

Coincidentally, another listed bank, Bank of Shanghai, issued an announcement on its official website on July 30, recruiting the person in charge of bank financing, presiding over the overall work of the company, responsible for strategic implementation, business decision-making, operation and management, personnel and corporate culture construction.

Everbright Bank threw olive branches at Zhang Xuyang, the banks former leader. Zhang Xuyang once led the introduction of the first RMB financial products in 2004, but he left Baidu in 2016 and returned to Guangda in July 2019. He intends to be the chairman of the financial management subsidiary. Everbright Bank, which is in charge, has also issued recruitment announcements for Chief Investment Officers and Chief Technology Officers. In principle, senior managers in the banking or asset management industry should be qualified. They should have more than 10 yearsworking experience in related fields of public funds, securities, trust and insurance asset management institutions, and more than 8 years management experience in the industry.

According to the 21st Century Economic Report on a headhunting website, many banks are currently recruiting managers of financial subsidiaries, including managers and top managers, with annual salaries ranging from 3 million to 6 million yuan. Other middle-level managers, such as general manager of venture capital department, general manager of information technology department, general manager of investment department and general manager of fixed investment department, are also recruiting. Employment items are offered at a price of 1 million yuan or more.

From the point of view of the demand for ordinary employees, the most needed posts are research posts, which is also one of the highest bidding posts. In addition, fixed income investment manager, liquidity management post, alternative portfolio investment/strategy development manager, centralized trading post, risk compliance post, etc.

At present, there are three sources for the formation of the financial management subsidiary companys team: first, the original team of the original capital management department has been transferred to the financial management subsidiary company; second, the internal selection of banks has filled part of the job gap; third, social recruitment has been carried out, for example, Jianxin Finance announced a large-scale social recruitment notice in June, more than 50 posts are vacant for waiting.

What is the talent adsorbing power of the universal license?

The 21st Century Economic Report has learned that a big company has recently conducted in-house recruitment, and many employees of its branches come for interviews, with high enthusiasm.

An interviewer told reporters that the main reason is that the head offices work encounters the limitation of insufficient room for growth, so I want to try my luck in the new thing of financial subsidiary. Another local branch who interviewed for an operation position said that his consideration was to change business lines and he hoped to experience more at the headquarters of financial institutions.

After the in-house recruitment, it is found that many talents and positions do not match each other, and many key positions are not competent, such as investment managers and industry research. Next, large-scale social recruitment should be carried out to dig people from other financial institutions. Executives of Daihang Finance Company mentioned above said.

Another head of the capital management department of a joint-stock bank who has already enrolled in social recruitment said that even if he had already enrolled in social recruitment, he might not be able to recruit ideal talents.

Several public funders told reporters that they had little interest in financial subsidiaries.

Because of the immature system and uncertain prospects of financial subsidiaries at the present stage, it is attractive to givesuper-highsalaries, andordinary High is not strong. The formation of financial subsidiaries also requires a lot of investment, sufficient support from parent banks, as well as a large amount of time spent by employees, the lack of one may be a delay in personal development. A large public fund wind controller said.

An insurance administrator said that the most active interviews for the banks financial subsidiaries were those of small and medium-sized securities firms: Its hard for securities firms to manage their business. There were a lot of thunderstorms before, especially for small and medium-sized managers. There are many unemployed and unemployed project managers. But it is difficult for them to jump to the big platform. The recruitment requirements of bank financial subsidiaries are also very high. Many of them eventually go to private equity.

The head of the above-mentioned stock bank capital management department also confirmed the point that small and medium-sized securities firms are difficult to get into the eyes of law, more inclined to public offerings, large securities firms, when recruiting background, education, work experience will be carefully assessed.

In addition, the 21st Century Economic Report noted that some big bank financial subsidiaries began to follow the example of public offering fund to promote star financial managers on product posters. Although it is only a minor change, it does give some professionals a window to show themselves to the outside world.

Source: Yang Qian_NF4425, Responsible Editor of Economic Report in the 21st Century