Australian financial institutions might soon be trying to poach back their expats who are currently working in Asia.

Signals in the employment market down under suggest that Australians with Asian experience are starting to become more sought after at funds managers and investment banks in Sydney and Melbourne.

Australian buy-side firms — including AMP Capital Investors, Platinum Asset Management and Maple-Brown Abbott — have added Asian equity funds to their portfolios to meet a growing demand from super funds and other investors.

Although this hasn’t exactly created a hiring boom, employment within Asian equities is showing signs of life. Meredith Jordan, a consultant at Jon Michel Executive Search in Sydney, says demand had crept up over the last year.

“The funds industry is naturally cautious about recruiting in the current market, but firms have hired Asian equities people recently and they are definitely still keen to have discussions with good candidates, even if the jobs are three to six months down the line,” says Jordan.

Some funds are primarily targeting Australian expats in Hong Kong and Singapore who are looking for the right opportunity to return home, she adds. “The view is that analysts can hit the ground running and transfer their knowledge and skill sets.”

But it’s often difficult to find these professionals, especially because employers often want Asian expertise in a specific industry, which further reduces the talent pool, explains Jordan. Mid to senior-level candidates are most likely to get hired because they have worked across several sectors (and potentially locations) during their careers.

Over on the sell side, Asian networks are also becoming more important in equity-sales positions at the likes of Macquarie, Deutsche Bank, Goldman Sachs and Merrill Lynch.

“Australians have a growing appetite for investing in Asia, so the sell-side equity houses need to be able to provide expertise on Asia to Australian fund managers,” says Fiona Weeks, a partner at Sydney search firm Platinum Pacific Partners.

Roles selling Australian equities to Asian fund managers require candidates with existing fund manager relationships in Asia, adds Weeks. "On the flip side, if you are selling Asian equities to Australian fund managers, you need existing fund manager relationships in Australia. The network is more important than the product knowledge."

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