US and European banks are offering huge pay packages to hire top bankers in Asia-Pacific, in a sign that the compensation curbs pledged by financial groups after the crisis are already being eroded.
A shortage of talent combined with rivalry among banks to expand or rebuild operations across the fast-growing region has sent compensation levels for some bankers soaring to levels last seen before the financial turmoil, according to headhunters and bankers.
Banking chiefs said that, unlike in the US and Europe, where a public backlash forced banks to keep a lid on pay, the war for talent in Asia prompted many institutions to make lucrative offers to star recruits.
In the aftermath of the crisis, most banks pledged to reduce pay for staff around the world, tie compensation to long-term results and end controversial practices such as guaranteed sign-on bonuses.
Citigroup, Bank of America Merrill Lynch and UBS, which each received substantial state support during the crisis, are among the group of those seeking aggressively to build their staff base in Asia.
金融危机期间接受了巨额政府援助的花旗集团(Citigroup)、美银-美林(Bank of America Merrill Lynch)和瑞银(UBS)，都在那些积极寻求在亚洲建立员工基础的集团之列。
Industry participants said it was becoming common for senior bankers in niche areas to be offered multimillion-dollar deals, including the return of controversial “guaranteed bonuses” for one or two years.
BofA and Citi have announced several high-profile recruits of late. Banks less badly affected by the crisis, including Standard Chartered, Barclays, Deutsche Bank and Nomura, are also fuelling competition for bankers with targeted hiring plans.
最近美银和花旗宣布招聘了数位知名银行家。渣打银行(Standard Chartered)、巴克莱(Barclays)、德意志银行(Deutsche Bank)和野村(Nomura)这些受到金融危机影响较轻的银行，也提出了有针对性的银行家招聘计划，从而加剧了竞争。
Hiring banks say they have no option but to pay competitive salaries to attract staff to take advantage of growth opportunities in lucrative markets such as China and Australia, whose economies sailed through the downturn. Banking leaders and headhunters said regional specialists who cover sectors such as financial institutions, resources or fixed income products were in highest demand.
Industry participants said bankers with a proved ability to generate revenue in China were sought after, with salary packages of $10m not uncommon.
样信 1 Dear Messrs Ribera Y Cia, With reference to your letter of Sep.21, 2004, we are glad to learn that you wish to enter into 1 trade relations with our corporation in the
Huawei Technologies, the Chinese telecommunications equipment maker, is confident of increasing its share of fixed line and mobile infrastructure deals in 2009, even though sector