HSBC is planning to hire up to 200 new recruits for its business banking segment in the next six months in a major campaign which reflects strong recent growth and bright prospects. Those hired will receive extensive training and follow a structured career path so that they can provide comprehensive solutions for clients who own, run, or intend to start a business.
'At mid-year, we achieved outstanding results and have grown to such an extent that we have to hire a good volume of new talent,' says Lena Chan, managing director and head of business banking at HSBC. 'We are aiming to deliver a new experience for business customers under our global branding, and will be launching new products and service propositions.'
Recruitment strategy has changed. Instead of hiring mainly experienced personnel, the division is now also taking on graduates keen to build a long-term career in the sector.
After an initial two weeks of familiarisation and training, they can expect to be attached to an HSBC business centre somewhere around town. There, over the course of 18 months, they will learn the basics of banking and, as frontline staff, begin to work with customers, answering inquiries and resolving service issues.
At first, this may involve assisting clients open an account, complete signatory records and get set up for internet transactions. With experience, though, this would lead to higher levels of complexity. For instance, it might be necessary to sort out remittances to Brazil, advise on cash flow, arrange overdraft facilities or negotiate a term loan for capital expenditure. 'There has to be an extensive dialogue to understand the nature of the business and what the customer needs,' Chan says. 'As bankers, we need to provide various structures of financing solutions, ranging from machinery loans, working capital finance and import-export finance to forex lines that hedge business currency exposures. We also have to know how to help clients manage and invest operating funds, especially under low interest rates, and make sure they have the necessary protection.'
Graduate recruits can expect to move from assistant manager associate to assistant vice-president (business development) within two years. As they progress, they will assume more responsibility for building relationships with new clients and managing a growing portfolio.
