Some financial firms have stepped up hiring amid a market rally and a revival in initial public offerings (IPOs), though others continue to trim headcounts to rein in costs, industry participants say.
Hong Kong’s financial sector added about 4,800 jobs in the 12 months to the end of September, taking total employment across banks, asset managers and brokerages to 204,000, up 2.4 per cent from 199,200 a year earlier, according to the Census and Statistics Department.
Including the insurance sector, total employment in the broader financial industry rose by 6,700 over the 12-month period, bringing the number of people working in finance and insurance to 271,800 as at the end of September.
That figure remained below the record 287,800 in 2021, before falling to 261,000 in 2024, according to government statistics.
Professional services, including accounting and legal firms, also added 6,900 jobs, lifting total employment in the segment to 423,900 at the end of September from 417,000 a year earlier.
Bankers attributed the gains largely to last year’s buoyant markets and a resurgence in IPO activity, trends they expect to carry into this year.