International banks in Hong Kong are looking to beef up on corporate relationship managers, in another sign of renewed job-market confidence.

Standard Chartered and HSBC, which both want to hire in the hundreds, are leading the charge. But while their recruitment plans are bolstered by the growing dissatisfaction of RMs at Chinese banks in Hong Kong, their search for quality staff is not without challenges.

“The major banks are starting to hire corporate banking RMs again but the bar to entry has been raised. All firms want candidates with both excellent employment track records and product knowledge, for example, credits, treasury products, funds etc,” comments Eunice Ng, director of search firm Avanza Consulting.

Banks are discovering that it’s particularly difficult to find RMs who have consistent work histories.

“Job hopping on candidates’ CVs is a big problem. Many RMs have either changed banks too frequently in the past, or have switched between consumer and corporate roles,” adds Ng.

Global giants are, however, still willing to poach back former staff who are now at Chinese corporate banks.

In Q4 2008 and early 2009, mainland firms took advantage of the financial crisis and were hiring heavily in Hong Kong. But as the global banks begin to recruit again, Chinese firms – such as BOC, CCB and ICBC – are now struggling to prevent some of their RMs returning to Western institutions.

“A few of these people are dissatisfied with their managers and the type of products they are working on. They haven’t adapted well to Chinese banking culture,” says Ng.

Another Hong Kong headhunter, who asked not to be named, adds: “There is some turnover. I’ve spoken to candidates who have actually resigned from Chinese banks because they just can’t stand the management culture.”