Australia cutting jobs while Asia-Pacific headcounts grow
While speculation continues that the Australian banking industry could see the loss of thousands of jobs in 2012, specialist financial services messaging provider SWIFT has indicated it intends to grow its presence and headcount in the Asia -Pacific, but focused on Hong Kong, Singapore, China and India.
The company this week announced plans to grow its Asia-Pacific headcount by 53 per cent by 2015, reflecting what it says is the region's economic and financial growth, and citing the Standard Chartered Bank forecast that Asia will grow to generate 44 per cent of world Gross Domestic Product by 2030.
However, it said its head count expansion would be focused on the key financial services hubs of Hong Kong and Singapore, plus the emerging markets of China and India.
The company said the Asia-Pacific currently accounts for 13 per cent of SWIFT's traffic and 15 per cent of total revenue.
AUTHOR
Staff Writer
Recommended for you
Minister for Financial Services, Stephen Jones, has said he did not expect backlash to changes around advice fee deduction and believes the second tranche will have greater impact, committing to enact it by May 2025.
Financial adviser numbers are “back in black” for the year to date, thanks to 50 new entrants joining the industry over the last four weeks.
An equity partner firm of Count has purchased a Brisbane-based accounting business for nearly $1 million, as Count drives forward its inorganic growth momentum.
Australia’s looming intergenerational wealth transfer remains a crucial opportunity for financial advisers, with 14 per cent of consumers looking to transfer $1 million or more.
