A recent survey of 150 CFOs in Hong Kong has revealed that a significant number of companies plan to add to their financial headcounts this year to support their virtual banking programmes, in response to the Hong Kong Monetary Authority’s recent consent to grant four virtual banking licenses. In the upcoming year, 68% of Hong Kong companies will either establish virtual banking services or plan to obtain virtual banking licenses.
When asked about their hiring plans to implement the company’s virtual banking programs, 22% of Hong Kong CFOs plan to hire additional permanent finance professionals, with the number growing to more than one in three (36%) who plan to recruit extra temporary finance professionals.
However, more than seven in 10 (73%) CFOs admitted it’s more challenging to find qualified finance professionals compared to five years ago.
“Companies need to not only upskill existing staff but also bring in additional expertise to address potential skills gaps. Currently, financial employers are looking to recruit mainly senior-level finance executives, and compliance and audit professionals, with strong demand coming from different sectors looking to set up virtual banking licenses in Hong Kong,” said Adam Johnston, managing director of Robert Half Hong Kong.