Financial services professionals ''may seek banking jobs in Hong Kong''

An economic shift towards the east could encourage more people to consider finance jobs in Hong Kong, it has been suggested.

The prediction is made as part of an analysis of the UK''s financial services sector carried out by the Confederation of British Industry (CBI) and PricewaterhouseCoopers indicated that a move towards technology jobs in banking could be seen towards territories such as Hong Kong.

Released to mark the 20th anniversary of the organisations'' Financial Services Survey, the report includes forecasts from 20 leading figures from the sector and indicates that an economic shift eastward is taking place, which is good news for investment banking jobs there.

Stephen Green of HSBC stated: "In the next five to ten years, we can expect the emergence of new Asian competitors, particularly from China."

The survey results come after it was revealed by The Finance Standard that Soros Fund Management is believed to be looking at the possibility of establishing a new base in Hong Kong and relocating some of its executives there.