Bad news if you're a lawyer looking for trust work, at least according a survey of hiring managers and recruiters: http://www.hk-lawyer.com/userfiles/HKL_201011_030%281%29.jpg from http://law.lexisnexis.com/webcenters/hk/Hong-Kong-Lawyer-/Reviewing-Hong-Kong's-legal-job-market-in-2010/
Even the general banking sector looks bearish but in-house Wealth Management/Advisory roles for private client lawyers seems to buck then trend and could be hot.
However, the optimism at the STEP Asia Conference 2010 was hardly bleak. In fact the show was sold out. Some 300+ trust people! The conference has out-grown the Four Seasons venue.
And with uncertainties (aren't there always?) dogging the private wealth business, there was a silver lining within the speech made by Secretary for Financial Services and the Treasury of HK, Professor K C Chan: the HK government plans to introduce a trust law Amendment Bill into the Legislative Council in 2011. While I think we need not hold our breaths as HK will not become a significant trust booking center anytime soon, new laws often means opportunity for some advisors and analysts.
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