Hong Kong Banks Face Talent Gaps in AI, Green Finance, and Regional Expertise
Hong Kong banks are projected to encounter significant talent shortages in artificial intelligence (AI), green finance, and expertise related to the Middle East and Southeast Asia markets over the next five years. This insight comes from a recent study led by the Hong Kong Monetary Authority (HKMA), conducted alongside the Hong Kong Association of Banks and the Hong Kong Institute of Bankers. The survey, which included 147 banks in the first quarter of 2025, highlights important trends shaping the industry’s workforce strategies.
Arthur Yuen, HKMA’s deputy chief executive, emphasized the importance of focusing on internal staff training rather than competing through salary hikes. The study revealed that 57% of banks have a positive outlook for 2026 to 2030, citing growth opportunities and technological progress. However, 11% are concerned about challenges posed by geopolitical risks.
Hong Kong’s Talent Shortage Reflects Broader Regional Challenges
The talent gap in Hong Kong mirrors wider issues facing the Asian banking sector. In private banking alone, Asia has around 7 million millionaires but only about 10,000 qualified private bankers to serve them—far below the estimated need of 200,000 professionals. This shortage has driven salary increases of 30% or more for candidates switching jobs in Hong Kong and Singapore.
Adding to this challenge is a growing digital skills gap. About 62% of banking leaders acknowledge that finding digital talent is becoming more difficult. Consumer behavior is also shifting, with 35-40% open to switching to digital-only banking services. This makes the demand for professionals who combine traditional banking knowledge with digital expertise urgent.
The HKMA specifically highlighted skills in AI, green finance, and regional knowledge of Middle East and ASEAN markets. These areas require a blend of technical and cultural expertise, making qualified candidates particularly rare.
Training Investments Offer Sustainable Talent Solutions
Competition for talent through salary increases is becoming less sustainable. Some banks have even chosen to sell off their Asian operations rather than engage in salary wars. In contrast, institutions that invest in training and collaborate with educational bodies tend to experience steadier growth.
Hong Kong’s banking sector is also shifting to prioritize Mandarin-speaking professionals and shows less inclination to hire foreign bankers who have been laid off. This change underlines the increasing value of cultural and linguistic skills, which are best developed through targeted training rather than external recruitment.
Developing hybrid talents—those who combine technical skills with multilingual capabilities—appears to be a more viable long-term strategy. Such skills are difficult to acquire quickly through hiring alone and require continuous internal development.
Practical Steps for Finance Professionals
- Focus on acquiring AI and green finance skills to stay relevant in the evolving banking landscape.
- Consider language and regional expertise training to strengthen your position in markets linked to the Middle East and Southeast Asia.
- Explore training programs that combine technical knowledge with cultural competencies.
For finance professionals looking to build AI capabilities, Complete AI Training offers a range of courses tailored to different skill levels and job roles. Investing in such programs can provide a competitive edge in a tight job market.
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