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Asia Asset Management – Talent Shortfall Triggers Turbulence in Chinese Asset Management
China’s thriving asset management industry experienced a serious talent crunch in 2014 and high levels of turnover look set to continue into 2015, reports Asia Asset Management. In addition to a brain drain effect, several banks have recently entered the market, exacerbating competition for high-profile fund managers. According to Peter Koo, a consultant at Egon Zehnder, Shanghai, “We consider some of these movements healthy in that the fund managers were poached because of their good reputation in the market.” Koo also notes, however, that: “With the dearth of gifted managers, some asset management firms are even vying for ‘less experienced talents’ or ‘suboptimal solutions’”. Average industry salaries continue to rise, even as remuneration structures become more performance-oriented. But not all fund managers can deliver on their promise, warns Koo.
Full story: Hui Ching-ho: “Talent crunch hits China fund industry” in Asia Asset Management (January 2015).