For Recruiters

Hedge funds ditch Hong Kong for healthier climes

Hedge funds choking on smog in Hong Kong are moving to Singapore for the sake of their health. And the exodus could undermine the competitiveness of the territory's financial sector.

"Many of those who have recently joined our Singapore operation are saying: 'I don't want to expose my children to the smog in Hong Kong'," says Ed Peter, head of Deutsche Asset Management's Asian operation. Peter recently moved from Hong Kong to Singapore, the Financial Times reports.

Traditionally, Singapore has sought to compete with Hong Kong as a major Asian business hub, but now its clearer skies may be making the job much easier.

Morgan Stanley and Goldman Sachs provide hedge fund broking services in the region, and the according to the FT senior executives say health and lifestyle issues are certainly high on the agenda for some Hong Kong-based hedge fund partners.

Headhunters say a number of chief investment officers of big international fund houses are looking to abandon Hong Kong for job opportunities in Singapore's mutual fund industry.

The Financial Times says the Hong Kong government is stepping up its efforts to improve local emission levels to prevent the brain drain, but will it be a case of too little too late?

author-card-avatar
AUTHORAnonymous Insider Comment
Cancel

Apply for jobs

Find thousands of jobs in financial services and technology by signing up to eFinancialCareers today.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Latest Jobs
Qatar National Bank (QNB)
Assistant Relationship Manager
Qatar National Bank (QNB)
Singapore
Bo Le Leaders Ltd
Credit Analyst
Bo Le Leaders Ltd
Singapore
Interactive Brokers Group
Monitoring Operator – Technical Operations
Interactive Brokers Group
Singapore
Adecco Personnel Pte. Ltd.
Regional Risk and Controls Senior Analyst
Adecco Personnel Pte. Ltd.
Singapore