Recruitment for professionals in the country's banking and finance sector has grown 23% year-on-year in July, similar to the levels in May and June, according to online employment agency Monster, based on online job posting activity.
During the same period, demand was down in Singapore (-8%) and Malaysia (-36%).
The agency attributed the surge to the Philippines’ economic growth, strong government policies under new president Rodrigo Duterte, who took office on 30 June, and foreign investment.
“As plans to further accelerate growth within the country get rolled out slowly, the banking sector is set for a promising year ahead.”
Recently, Julius Baer hired three bankers for the Philippines team in the past two months.
Dominik Furst, joining from Lombard Odier Darier Hentsch, became the team head and is based in Hong Kong. Trina Louey, from UBS, was appointed a senior relationship manager on Furst’s team.
Another new senior RM is Mike Locsin, who worked at Credit Suisse before and is now based in Singapore.
Ivan Guidi, previously head of offshore markets ex-Greater China at Julius Baer, had his role changed to deputy sub-region head for emerging Asia and senior client advisor for UHNW Philippines.