It's about a year since the start of the credit crunch, and the effects from the fallout vary in different regions. While some are entering recession, others are as yet unscathed and experts remain divided as to whether a full global recession is inevitable.
What is clear is that banking and finance sectors in the United States and Europe have been hard hit, but the Asian finance sector remains relatively unaffected.
Some Asian banks have been bailing out their western operations and rivals, and a pattern may be evolving of bankers relocating to Asia from the west.
'Head count reductions have been taking place mostly in London and New York - not here. At our recruitment events at those two cities this year, we detected more interest than usual from bankers wanting to relocate to Asia,' said Pan Zai Xian, manager, financial services (banking and finance) at Robert Walters Singapore.
He added, however, that the credit crunch was having a regional effect in terms of which skills were most in demand, with retail banking, hedge funds and insurance least affected by the crisis, and a steady demand in accounting, compliance and financial sales.
'At times like this there also tends to be a strong demand for audit professionals, and I think there will be an ongoing need for credit and market risk professionals,' Mr Pan said.