By Christine Lau, Founder of Lauris Walton Executive Search & JUPCV Career Services
Introduction
A prevailing narrative has taken hold across the financial services community in recent months — that hiring in banking across Asia Pacific has come to a standstill. Having spent considerable time in direct conversation with hiring leaders and candidates across the region, I can say with confidence that this characterisation is inaccurate.
What we are witnessing is not a freeze. It is a fundamental recalibration of how, where, and for whom banks are hiring. Understanding the forces driving this shift is essential — whether you are a banking executive building your team, or a professional evaluating your next career move.
The Macroeconomic Context: Cautious Optimism Amid Complexity
It is important to ground this discussion in the broader economic landscape. Nearly half (44%) of CFOs and treasurers across Asia Pacific anticipate a tougher economic climate in the year ahead, while only 26% expect conditions to improve[7], according to J.P. Morgan’s CFO View: Asia Pacific Outlook 2026 [1]. Despite these concerns, 48% say revenue growth is their top priority for 2026.[7]
Yet within this environment, there are pockets of significant strength. China is expected to see real GDP growth of 4.3% in 2026, moderating from 2025 due to the high base for export growth[9], according to J.P. Morgan Private Bank Asia’s 2026 Asia Outlook [2]. In Southeast Asia, Vietnam’s banking sector is entering 2026 with a more targeted approach to hiring, reflecting improving business conditions, with around 40–50 per cent of credit institutions expecting to recruit additional staff in 2026, as banks position themselves to meet rising credit demand while advancing digitalisation and strengthening risk management[1] [3].
Japan presents a more mixed picture, where authorities need to address the buildup of short yen positions and prevent excessive currency depreciation, as a large energy importer where currency has a meaningful impact on prices[9] [2].
The picture, in other words, is not uniformly bleak. It is uneven — and that unevenness is precisely where both risk and opportunity reside.
The Reality of Hiring: Demand Is Active, But It Has Shifted
From our firm’s vantage point, the hiring activity in banking is considerably more robust than public sentiment would suggest. However, the nature of that demand has changed materially.
The most pronounced surge we are observing is in roles tied to AI development and implementation — project managers, change leads, transformation specialists, and technology professionals who can bridge the gap between legacy banking infrastructure and emerging capabilities. This is not a passing trend. Accenture’s Banking IT Executives Survey found that nearly three in four (74%) APAC banks expect to increase technology staff as a direct result of agentic AI adoption, with only 4% anticipating any reduction[1] [4]. Nicole Bodack, Banking & Capital Markets lead for APAC at Accenture, noted that “rather than replacing people, AI is reshaping roles, creating new hybrid skills and enabling teams to focus on innovation and growth”[2] [5].
Nearly half of banks and insurers are creating roles to supervise AI agents, according to the World Cloud Report for Financial Services 2026, published by the Capgemini Research Institute[5] [6]. Over the next three years, 57% of banking executives expect AI agents to be fully embedded in risk, compliance and audit functions, while another 56% believe AI agents will reach broad adoption in credit assessment and loan processing[5] [6].
At the same time, the investment banking talent landscape is intensifying. JPMorgan Chase plans to boost headcount at its Asia Pacific corporate banking unit by 20% in 2026, as part of the lender’s regional growth push[2] [7]. The hiring spree is driven by several factors, including digital innovation, rising intra-Asia trade, and the growing demand from Asian companies to go global[2] [7].
JPMorgan has reportedly hired about a dozen senior investment bankers for the region in the past six months, while since August 2025, Citigroup has steadily added key talent for its investment banking business in Asia — including Kaustubh Kulkarni as co-head of investment banking, Deepak Dangayach as co-head of debt capital markets (joining from Deutsche Bank), and Vikram Chavali as head of financial sponsors for the region (joining from Goldman Sachs)[1] [8]. Citigroup has also been seeking to raise its investment banking headcount in Japan by 10–15% over the next year and make new hires in Australia, as part of its strategy to bolster growth in the Asia Pacific[10] [9].
The deal pipeline supports this expansion. 2025 saw APAC IPO proceeds surge to 90billion(+7390 billion (+73% year-on-year), with Hong Kong/China and India accounting for over half of the region’s activity[[1]](https://www.jpmorgan.com/insights/banking/asia-pacific-ipo-market-outlook) [10]. With a record 90billion(+73334 billion raised — making up over a third of global equity capital market volumes — APAC has emerged as a global ECM powerhouse, with a robust pipeline already in place for the year ahead[1] [10].
In private banking, hiring momentum has clearly returned, with cross-firm hires across Asia rising 13% year-on-year in 2025, accelerating from 8% growth in 2024, according to Asian Private Banker data[3] [11].
The evidence is clear: banks are hiring. They are simply hiring differently.
What We Are Observing on the Candidate Side
From the candidate perspective, the current environment presents a striking paradox. While banks are recalibrating their talent strategies, a notable number of previously stable professionals are now actively exploring the market.
At JupCV Career Services and Lauris Walton Executive Search, we are seeing this trend most acutely among marketing professionals and relationship managers — across retail banking, corporate banking, and private banking. The common denominator is intensifying pressure on billings. Performance targets have become more aggressive, expectations continue to escalate, and many experienced bankers who had no prior intention of moving are now reassessing their positions.
This dynamic creates both complexity and opportunity. On one side of the equation, banks are pursuing very specific skill sets with greater selectivity than ever before. On the other, a cohort of seasoned professionals is entering the market, many of whom may not yet fully appreciate how transferable — or how valuable — their experience could be, if positioned with precision and strategic intent.
The Evolving Approach to Talent Acquisition
Across the region, the methodology of hiring itself is undergoing transformation. In 2026, businesses will emphasise skills and prioritise agility in hiring; rather than solely considering pedigree, companies now take a skills-based approach, prioritising a candidate’s abilities over traditional credentials[1] [12]. Trade tensions and tariffs pushed companies to be more deliberate about their location strategies, while the year saw the “real” adoption of AI as the technology moved from pilot to practice in the industry, particularly in risk and operations — influencing the mix of skills that employers look for[1] [12].
If 2025 was a year of acceleration, 2026 will be the year of alignment — aligning skills with market needs, aligning AI with governance, and aligning employer value propositions with what talent truly wants[1] [13]. In 2026, Asia’s expansive job market is undergoing a transformative shift toward skills-based hiring, prioritizing verifiable abilities over traditional credentials and experience, as companies across Singapore, Japan, India, China, and broader regions confront talent shortages in high-demand fields like AI, cybersecurity, and data analytics[4] [14].
In Vietnam, credit institutions are expected to recruit cautiously in 2026, focusing on targeted roles to support rising credit demand, digitalisation, and risk management[4] [3]. Experts said the labour market is unlikely to see rapid expansion in headcount, instead shifting towards more selective hiring[4] [3].
This is not a market that rewards passive participation. It rewards preparation, specificity, and a willingness to evolve.
Beyond the CV: What Professionals Truly Need in This Market
This shifting landscape is precisely why we established JUPCV Career Services. While professionals initially engage with us for CV and resume support, what they increasingly require extends well beyond the document itself.
Candidates seek to understand the market landscape with clarity — where genuine opportunities exist, not merely what appears on job boards. They want to understand how to differentiate themselves from peers who hold similar titles, similar tenure, and similar institutional backgrounds. And perhaps most critically, they seek guidance on whether the next role will genuinely align with their strengths and aspirations — not simply offer a lateral move with a marginal salary adjustment.
In a market that rewards distinction and penalises mediocrity, self-awareness and strategic positioning are not luxuries. They are competitive necessities.
A Bold Call for 2026–2027
I will state this with conviction: the next 18 months will see strong hiring demand in banking across Asia Pacific — but that demand will be concentrated overwhelmingly on high-calibre candidates. Professionals who have invested in their skill sets, remained engaged with how the industry is evolving, and can articulate the tangible value they bring to an organisation will find this market highly receptive.
For those who have allowed their development to plateau, it will be a considerably more challenging period. The middle ground is contracting. Banks are becoming more deliberate in their selection processes, more willing to extend search timelines rather than compromise on quality, and more sophisticated in how they evaluate talent. The era of “adequate” in banking recruitment is drawing to a close.
Hong Kong and Singapore will remain at the centre of this narrative. Banking is foundational to the economic identity of both cities, and the talent decisions being made today will have a direct bearing on how effectively these financial centres — and the broader Asia Pacific region — can generate momentum. Banks see strong, long-term growth in the region, driven by the rapid digitalization of financial services and the increasing adoption of advanced banking technologies, while surging intra-Asia trade flows are creating new demand for sophisticated corporate banking solutions[10] [9].
This brings me to a point I consider important for every banking professional to internalise: your work carries significance that extends beyond your individual performance metrics. Banking is an engine of economic growth. When capital is allocated effectively, when transactions are structured with rigour, when clients are advised with integrity and insight — the broader economy benefits. The relationship between strong banking talent and economic advancement is not abstract. It is direct and consequential.
I would encourage every professional in this industry to approach their career not merely as a pursuit of personal advancement, but as a contribution to a larger economic mission. That sense of purpose, in my experience, is what distinguishes the professionals who build enduring careers from those who simply move between roles.
Conclusion
The banking talent market in Asia Pacific is not in stasis. It is in motion — driven by AI transformation, a buoyant deal pipeline, intensifying competition among global institutions, and a fundamental rethinking of how talent is identified, assessed, and developed.
For hiring leaders, the imperative is clear: move with purpose, invest in the right capabilities, and recognise that the competition for exceptional talent has never been more acute.
For professionals, the imperative is equally clear: be intentional about your development, understand the market with precision, and position yourself not as one of many, but as someone whose contribution is distinctive and indispensable.
The worst course of action in this environment is inaction. The opportunity is real. The question is whether you are prepared to meet it.
Christine Lau is the Founder and CEO of Lauris Walton, a leading global executive search and headhunting firm headquartered in Hong Kong, and JUPCV, a comprehensive career services ecosystem. With over a decade of recruitment experience — including tenure at global Big Four recruitment firms where she was consistently among the top performers — Christine has built an extensive network and trusted reputation serving listed corporations, family offices, global MNCs, and high-potential start-ups across Asia Pacific. A GBWEA award winner, keynote speaker, she is widely recognised as a career architect and trusted advisor to HR leaders and C-level executives navigating today’s evolving talent landscape.
For enquiries, connect with Christine on LinkedIn.
References
[1] J.P. Morgan, “The CFO View: Asia Pacific Outlook 2026.” https://www.jpmorgan.com/insights/banking/cfo-outlook-asia-pacific
[2] J.P. Morgan Private Bank Asia, “2026 Asia Outlook.” https://privatebank.jpmorgan.com/apac/en/insights/markets-and-investing/asf/2026-asia-outlook
[3] Vietnam Investment Review / VCCI, “Banks Set for Selective Hiring in 2026.” https://vir.com.vn/banks-set-for-selective-hiring-in-2026-144223.html
[4] CIO&Leader, “AI Is Coming for Bankers’ Jobs — But Asia Pacific’s Bank CIOs Say It’ll Actually Hire More People.” https://www.cioandleader.com/ai-is-coming-for-bankers-jobs-but-asia-pacifics-bank-cios-say-itll-actually-hire-more-people/
[5] CXOToday, “Asia Pacific Bank CIOs Expect Agentic AI to Create More Tech Roles, Not Fewer, According to Accenture Survey.” https://cxotoday.com/media-coverage/asia-pacific-bank-cios-expect-agentic-ai-to-create-more-tech-roles-not-fewer-according-to-accenture-survey/
[6] Banking Dive, “Banks Aim for Agentic AI Scale in 2026: Report.” https://www.bankingdive.com/news/banks-agentic-ai-scale-2026-accenture/809585/
[7] AInvest / Reuters, “JPMorgan Plans 20% Staff Boost in APAC Corporate Banking Unit Next Year.” https://www.ainvest.com/news/jpmorgan-plans-20-staff-boost-apac-corporate-banking-unit-year-2509/
[8] Global Business Outlook, “Talent Fight Intensifies in Asia-Pacific’s Banking Industry.” https://globalbusinessoutlook.com/banking-and-finance/talent-fight-intensifies-asia-pacifics-banking-industry/
[9] Nasdaq / Zacks, “JPM Targets 20% Asia Hiring Boost to Ride Digital, Trade Growth.” https://www.nasdaq.com/articles/jpm-targets-20-asia-hiring-boost-ride-digital-trade-growth
[10] J.P. Morgan, “Asia Pacific Equity Capital Markets Outlook.” https://www.jpmorgan.com/insights/banking/asia-pacific-ipo-market-outlook
[11] Asian Private Banker, “Private Banking Hiring Report 2025.” https://asianprivatebanker.com/insights-related/private-banking-hiring-report-2025/
[12] Robert Walters Singapore, “Hiring in Banking and Financial Services: Guide and Trends in 2026.” https://www.robertwalters.com.sg/insights/hiring-advice/blog/banking-and-financial-services-hiring-guide-and-trends-2026.html
[13] Stemgenic Global, “Southeast Asia Job Market 2025 Review & 2026 Outlook.” https://stemgenicglobal.com/southeast-asia-job-market-2025-2026-outlook/
[14] Workplace Asia, “Skills-Based Talent Matching: Big Five Traits Revolutionizing Asia Hiring in 2026.” https://www.workplaceasia.com.sg/skills-based-talent-matching-big-five-traits-revolutionizing-asia-hiring-in-2026/
Additional Sources Consulted:
- Accenture, “Top Banking Trends for 2026.” https://www.accenture.com/us-en/insights/banking/accenture-banking-trends-2026
- EY, “2025 Global IPO Market Key Highlights and 2026 Outlook.” https://www.ey.com/en_pt/insights/ipo/trends
- PeoplMatters, “JPMorgan to Boost Asia Pacific Hiring by 20% in 2026 Amid Growth Push.” https://www.peoplematters.in/news/recruiting-and-onboarding/jpmorgan-to-boost-asia-pacific-hiring-by-20percent-in-2026-amid-growth-push-43529
- Deloitte, “Southeast Asia’s IPO Market Rebounds.” https://www.deloitte.com/southeast-asia/en/about/press-room/southeast-asias-ipo-market-rebounds-driven-by-real-estate-financial-services-and-consumer-sectors.html
- InvestmentNews, “Citigroup Continues Strategic Investment Banking Talent Raid on JPMorgan.” https://www.investmentnews.com/wirehouses/citigroup-continues-strategic-investment-banking-talent-raid-on-jpmorgan/261753
