IT IS NO SECRET that with private wealth accumulating at a record pace, bankers have been trying to secure a slice of the action. Expanding portfolios have resulted in a job market that favours finance professionals who are now in the enviable position of being able to choose an employer and a healthy salary.
The latest Manpower Employment Outlook Survey places the finance, insurance and real estate sector in second place, after the services sector, in terms of employee hiring intentions for the first quarter of this year.
But how long will this 'craze' continue? To tackle some of these issues, professionals in the accountancy profession recently gathered to ponder the theme, 'War for Talent: The finance profession in 2020' at a conference hosted by the Association of Chartered and Certified Accountants (ACCA) at the JW Marriott Hotel Hong Kong.
Senior members of the profession and human resources experts provided an international perspective on some of the key challenges and opportunities facing the accountancy profession.
Speaking at the conference, Daniel Leung, regional finance director, Greater China, DuPont, thought it pertinent to the future of the profession to refer to Confucius. He said that while many people recognised Confucius as a great philosopher, it was important to note that he started work as an accountant.
Just as Confucius went beyond verifying stock figures at a local warehouse to become one of the world's greatest philosophers, Mr Leung believed that all chief financial officers needed to go beyond a company's accounts and take a balanced view of a business, particularly during mergers and acquisitions. This was the direction which professionals in the field would need to take.