Are we on the cusp of a bidding war? Bank J. Safra Sarasin announces new push for talent acquisition.
In an optimistic start to 2019, global pure-play private bank J. Safra Sarasin has appointed a Global Head of Strategic Resourcing who will be responsible for hiring bankers globally, finews.asia has learned.
Yelandur N. Nagendra (pictured left), a veteran banker and Vice Chairman Asia for the bank will also be responsible for increasing banker headcount across all its' geographies. He was previously at Bank of Singapore (Bos) as managing director and global head of India subcontinent, Middle East and Africa, overseeing a team based in Hong Kong, Singapore, Dubai and London.
Harbinger For Two Trends
The move is significant as a harbinger of two trends: private banks are intent on making new hires despite a choppy 2018; Asian leadership is increasingly being given global roles.
Although unconfirmed, there are reports that another Asia CEO at a rival boutique may be elevated to a similar role in the second half of the year to focus on «growth».
Big Challenge
«If you happen to have a CEO who has some credibility in the market, why not?», says one Asia-focussed head hunter commenting on the move. «It is more productive having them become your external face and focussing on one of the big challenges facing the platform – hiring.»
