Daily Dispatches: Shanghai’s big skill shortage – 400,000 financial professionals needed

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Shanghai needs at least 400,000 financial workers to become a world-class financial hub but the current supply makes up less than 60 per cent of the demand. The government has called for cooperation between corporations, educators and HR consultants to foster more financial talents to drive the city toward an international financial hub. (Shanghai Daily)

In just five years China’s workforce will start to shrink. By 2030 the median age of Japan’s population will be 51 and in China it will be 43, according to Deutsche Bank. By 2050 the share of 65 year olds in the population in most of Asia will more than double. Asia’s demographic dividend is almost over and its impact is far reaching. (Financial Times)

Australia's corporate world is often seen as a macho place where public-sector posts and management of the largest companies are dominated by men. But if that image is to change, it's women like Jillian Broadbent who are leading the charge. Broadbent has for years been at the top of Australia's corporate heap, having learned the ropes as an investment banker early in her career at the Bankers Trust, which was known for its foreign exchange and bonds trading before it was ultimately taken over by Deutsche Bank. (Wall Street Journal)

The UK’s tougher immigration policy is bad news for banks in London. By contrast, “The attitude in Singapore is: ‘How can we help you to move here?’” says Chris Cummings of TheCityUK, a UK financial lobby group. (The Economist)

Westpac and NAB have been downgraded by investment bank Goldman Sachs on concerns that lower loan growth and weaker margins would limit share price growth. (Sydney Morning Herald)

Austria’s third largest bank can now do business in Hong Kong. The Monetary Authority has granted a banking license to Raiffeisen Bank International AG based in Vienna. RBI is the third largest bank in Austria in terms of Tier 1 capital. (Asian Banking & Finance)

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