Japan loses key finance roles to Hong Kong

Banks and fund houses are relocating some business lines and key individuals to Hong Kong from Japan to control costs in a weakening global market.

"This is something we have seen, and the trend is mostly due to cost controls and the dominance of Japanese brokers in that market that pose a significant challenge for international firms to break in," said Nick Lambe, a managing director at headhunting firm Morgan McKinley.

Lambe said the transfers tended to be a result of the consolidation of roles and involve mainly senior business heads and certain trading jobs.

via Business feed http://www.scmp.com/business/banking-finance/article/1051103/japan-loses-key-finance-roles-hong-kong