The Hong Kong & Singapore bankers leaving for the buy-side
People are moving jobs in Asia – and they’re leaving their banks in the process.
In Hong Kong, Mamiko Kamimura joined HIG Capital. Kamimura spent over 15 years at Goldman Sachs in Tokyo and Hong Kong before leaving the firm to join the capital formation group for HIG, a private equity fund.
Joel Wee, meanwhile, joined Pilgrim Partners Asia, a hedge fund in Singapore. Wee, a former Deutsche Bank director, will be a portfolio manager for Pilgrim Partners, which was founded by former Millennium Asia head Albert Ee.
It might not be that surprising that top bankers are leaving for the buy-side. Hedge funds and private equity funds offer significantly better work-life balance than banks do – and what’s more, they tend to pay (seniors) a lot better on account of PnL sharing and carried interest, respectively.
It’s also a lucrative time to be moving jobs – an ongoing “talent war” in Hong Kong meant that bankers jumping could see a 30% jump in pay.
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