HSBC seeks 1,000 tech staff for China

Business | Reuters 22 May 2019

HSBC (0005) plans to add more than a 1,000 jobs this year at its technology development centers in China, as the Asia-focused lender seeks to bolster its presence in the world's second-largest economy.

Europe's biggest bank by assets will boost headcount at its technology centers in Guangzhou, Shanghai and Xi'an by 14 percent from a current 7,000-strong workforce, said HSBC chief information officer Darryl West.

In recent years the London-based bank has spent US$3 billion (HK$23.4 billion) annually on its group technology operations which employ 40,000 people worldwide, and West said annual investments of US$3-US$3.5 billion are planned over the next few years.

"There is a lot more we can do with technology in mainland China. The level of technology adoption and innovation in China is way ahead of other markets," West told reporters during a tour of HSBC's technology center in the southern city of Guangzhou last week.

"We see mainland China as a tremendous source of talent, not just for the local market but our technology operations globally. We are hiring very aggressively here," he added.

The bank will invest US$15-US$17 billion in the next three years in areas including technology and China, its chief executive John Flint said last year.

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