Competition for
management talent on the mainland has intensified as foreign banks expand
their presence, the Guangzhou Daily reported.
As their businesses grow in the mainland, foreign banks such as Citibank,
Standard Chartered and HSBC are hiring more local talent, the paper said.
Citibank, for instance, in an unprecedented move, recruited three
students at the 2002 graduation ceremony for international MBA degree
holders at the Shanghai-based Fudan University.
Guo Hua, an official from Citibank Shanghai, said ``selection is entirely
on the individual's ability. We only choose those who are qualified''.
Citibank has had a recruitment strategy for local talent since 1992, Guo
said, adding that as the bank expanded there was more demand for
management-level employees.
Standard Chartered, meanwhile, has shown great interest in local talent.
Qian Jing, a bank senior official, disclosed that the number of management
trainees hired by the bank had doubled compared to last year.
Unlike Citibank and Standard Chartered, HSBC did not report an increase
in recruitment.
Zhang Dandan, an HSBC representative, said about 10 people were chosen to
participate in the local talent cultivation plan.
According to Zhang, under the plan set up in 1991, about 10 top students
from first-class universities are selected to be sent overseas for training
for two to three years. They return to work for HSBC on completion of
training.
``These candidates will usually take up the positions of branch managers.
This scheme has yielded more than 60 management level employees,'' Zhang
said.
As competition for local talent intensifies, domestic banks have started
putting extra effort into attracting and training staff.
The China Minsheng Banking Corporation, established in 1996 in Beijing,
has signed an agreement with the University of International Business and
Economics under which 50 top students will be chosen from the departments of
Information Technology, Business Administration and Commerce to be put into
an independent class, called ``Minsheng Class''.
Minsheng will fund professional specialists and financial experts to
teach courses and offer internships to these students.
Those who perform well will be invited to become permanent employees at
Minsheng.
Analysts said foreign banks were keen on hiring local talent because of
the low cost. On the other hand, the banks were popular with local workers
as they encouraged staff to make full use of their skills.
