HSBC is looking to give a massive boost to its stocks of talent in mainland by hiring up to 3000 financial specialists over the next four years.
The scheme has already been partially rolled in Guangzhou and Shanghai with 100 wealth planners already recruited in those cities.
“Current tensions between China and the US inevitably create challenging situations for an organisation with HSBC’s footprint,” explained chief executive Noel Quinn (pictured above) in a statement on 3 August.
“However, the need for a bank capable of bridging the economies of east and west is acute and we are well placed to fulfill this role,” he added.
The London-headquartered bank has joined a number of large financial institutes pushing into China, with JPMorgan, Blackrock and Vanguard Group all boosting their headcounts on the mainland.
The quest for talent is considered one of the biggest hurdles successful expansion, with local banks also caught up in the challenge. According to Goldman Sachs, China's Citic Securities has added about 1500 investment advisers over the past three years – an increase of 73%.