APAC Financial Services Hiring Outlook 2026

The technology hiring landscape across financial markets has been led by quant trading firms, which continue to recruit elite engineering talent at an aggressive pace. These firms remain the most active buyers of top-tier technologists – particularly those with strong software engineering fundamentals and experience building high-performance systems – supported by highly competitive compensation and the appeal of working on cutting-edge infrastructure and algorithmic innovation. We have also seen a general rise in AI and data center hiring.  

At the same time, technology recruitment across finance more broadly has regained momentum versus the prior two years, with demand particularly pronounced for Python developers and low-latency specialists, especially within the buy side ecosystem. This has driven a visible migration of senior technologists from sell side environments into buy side roles, attracted by faster decision-making, more direct product ownership, and stronger compensation outcomes. 

Alongside this, banks are accelerating AI and digital transformation, although much of the incremental hiring remains contract-based rather than permanent headcount. Adoption of AI – especially GenAI and LLM-enabled workflow automation – has expanded most rapidly in mid- and back-office functions where productivity gains are most measurable, including compliance monitoring, fraud detection, investment advisory tooling, and operational automation.  

Leading U.S. and European institutions have continued to invest in AI labs and GenAI applications spanning automated code generation, risk and surveillance analytics, and next-generation advisory platforms. In parallel, crypto and fintech firms have re-entered growth mode, offering premium packages to scale engineering, product, and growth functions. Institutional adoption has been a key catalyst, with large financial institutions increasing investment in blockchain infrastructure, tokenisation platforms, and digital asset custody, creating sustained demand for talent in blockchain development, digital asset operations, and systems integration.  

Across all sectors, cybersecurity has become an increasingly critical hiring theme, reflecting a heightened focus on resilience as AI usage expands and digital infrastructure becomes more complex.  

Meanwhile, sell side tech hiring remains comparatively subdued in certain areas as banks continue to offshore engineering and support capabilities where possible to regional hubs such as India, Malaysia, and the Philippines, while markets like Singapore push workforce transformation through upskilling, digital training, and more flexible work models to attract and retain scarce talent. 

In 2026, compensation in financial services technology remains highly competitive, driven by a tight talent market and accelerating demand for AI, data, cybersecurity, and cloud‑native engineering skills.  

Companies are increasingly differentiating through total compensation packages rather than base salary alone, as high‑demand specialist roles – particularly in AI/ML and cybersecurity – command significant premiums, with AI‑related skills contributing to sharp salary increases and forming 30–40% of cloud‑related demand. Employee sentiment shows heightened dissatisfaction and mobility, with nearly half of fintech professionals unhappy and a bulk of candidates approached multiple times about new roles, intensifying retention challenges amid growing demand for AI, cyber, and data expertise.  

Within broader finance, AI transformation continues to expand compensation gaps as AI/ML‑skilled professionals see salary uplifts of up to 56%, while fintech, blockchain, and digital‑asset capabilities also command premiums as firms adapt to a shrinking talent pipeline and rising skill specialisation. 

Banking

Buy side (listed in USD as investment firms tend to hire more fluidly across SG and HK and are usually pegged to USD) 

Risk hiring has accelerated significantly in APAC as organisations face expanding regulatory demands, rapid technological disruption, and heightened market volatility. Across financial services, firms are scaling up risk teams to address AI governance, emerging risks, and operational resilience, with AI‑related risk roles becoming especially critical since 2025.  

Talent shortages are apparent – particularly in quantitative risk, market risk, liquidity risk, and first‑line risk management roles – driving strong competition for experienced professionals. In addition, cybersecurity, climate‑related risk, and regulatory compliance expertise remain in high demand as organisations navigate increasingly complex digital and environmental risk landscapes.  

Regulatory shifts – for example Monetary Authority of Singapore (MAS) tightening its guidance on financial crime prevention, customer due diligence, liquidity and capital adequacy, ESG governance, and third‑party risk – has prompted banks, fintech firms, and corporate treasury teams to expand their risk and compliance headcount across AML/KYC, transaction monitoring, operational risk (compliance advisory functions). Overall, risk management continues to evolve from a support function into a strategic backbone, resulting in sustained growth and rising demand for risk talent globally. 

In APAC, buy side expansion – particularly among U.S. and European funds and HFT platforms – is driving a rising need for dedicated risk professionals, including a notable trend of firms looking to appoint their first on-the-ground risk hire in Singapore as they formalise local risk management.  

Asset Management (Base salaries across HK and SG)

Banking

Markets Risk / IB Risk – Hong Kong 

Please note that we have seen more roles such as this – across investment banks and securities firms – in Hong Kong versus Singapore.

Commodities – Singapore (Base salaries)

Key legal & compliance 2026 trends 

• Legal & compliance hiring upturned in 2026 compared to 2025 
• Heightened geopolitical risks and tighter regulatory oversight across APAC are increasing demand for compliance specialists, risk managers, and legal professionals 
• Across AI risk and governance, employers must manage risks related to employee use of emerging technologies – particularly around fraud, data manipulation, and compliance boundaries. This is driving new governance and audit roles. 

Looking back on 2025 and market developments in 2026    

Hong Kong’s capital markets regained momentum in 2025 across ECM, DCM, and IPO pipelines, which has directly lifted demand for transactional and advisory legal support. This has been most visible in private practice, where firms are actively hiring capital markets counsels to keep pace with deal flow and execution timelines. In contrast, in-house legal teams have largely remained lean, with most institutions prioritising efficiency and cost discipline over broad headcount expansion – even as workloads increase. While IPO activity has improved, the broader environment still reflects caution in non-revenue areas, with middle- and back-office hiring lagging and firms continuing to manage operating models tightly. 

Although front-office hiring picked up earlier in 2025, many institutions are now turning attention to legal and compliance headcount, with new roles approved either before year-end and in Q1 2026, driven by regulatory complexity, ESG requirements, and heightened enforcement expectations.  

At the same time, the buy side is becoming a more prominent source of legal demand: hedge funds are increasingly hiring lawyers who can draft and negotiate fund documentation, while also providing general commercial advice and SFC-facing regulatory guidance – reflecting a preference for adaptable profiles who can operate effectively in leaner structures.  

A second clear shift is the rising reliance on contract hiring and alternative legal service providers (ALSPs), as global financial institutions look for flexible, cost-effective ways to manage surges in regulatory workload and transaction volumes without committing to permanent headcount. These tech-enabled, project-based models are gaining traction as they allow firms to access specialist support quickly – particularly for peak periods, remediation projects, and temporary coverage. 

APAC legal & compliance 2026 outlook 

Looking ahead, demand across legal & compliance is expected to remain firm and increasingly specialist-driven, with hiring focused on areas where risk, regulatory scrutiny, and capital deployment are rising. 

Private equity and venture capital platforms are expected to continue hiring legal counsels with strength in fund formation/structuring, cross-border regulatory compliance, and corporate transactional support, while real assets and infrastructure managers – particularly those aligned to Singapore’s growing capital inflows into real estate, infrastructure, and data centers – will continue competing for mid- and senior-level counsel.  

Law firms are likely to respond by expanding their investment funds and infrastructure practices to meet client demand. In parallel, firms are placing a sharper emphasis on trade compliance and sanctions expertise, especially with familiarity around U.S. sanctions regimes, as cross-border regulatory complexity increases and firms seek stronger in-house capability to mitigate exposure. Overall, the remainder of 2026 is likely to feature targeted hiring rather than broad expansion, with continued growth in contract-based models and sustained demand for lawyers and compliance professionals. 

All salaries below in are SGD:

Asset Management 

Banking & Markets 

Commodities 

Fintech/Crypto

Key finance & operations 2026 trends 

• Companies increasingly require digital, data, AI, and ERP capabilities for finance & operations roles 
• A lot of finance & operations roles are becoming more technical and front office facing 
• We have seen some finance & operations professionals take on certifications in AI or other tools to ensure their skills are competitive 

Looking back on 2025 and market developments in 2026  

The operations landscape has been characterised by both offshoring of some roles, and strategic controls roles remaining onshore. While many banks have continued to move execution-heavy processing and support functions to lower-cost delivery centres (notably India), Hong Kong has stayed firmly positioned as a regional anchor for strategic risk governance, regulatory engagement, and senior operational leadership. Firms are increasingly centralising oversight, control frameworks, and operational insight locally to meet evolving regulatory expectations and strengthen accountability.  

As overall market activity improved into Q3–Q4 of 2025, hiring momentum picked up noticeably – driven by increased transaction volumes, heavier operational workloads, and a renewed focus on ensuring stable coverage for growing client and business demands. This has resulted in stronger recruitment across core risk and ops teams, with employers aiming to strike a balance between building resilience and maintaining flexibility as conditions continue to shift. 

Alongside this, the talent market has been shaped by quality and service-level pressures in offshore delivery centres, which have prompted several institutions to bring in senior operations leaders from India and China into Hong Kong. These hires are often a direct response to declining service levels and rising internal complaints, with firms prioritising proven leaders who can restore operational discipline, tighten controls, and improve front-office support and responsiveness.  

Skill requirements have also broadened beyond traditional operations expertise: employers are increasingly seeking hybrid profiles that combine strong financial and product understanding with technology fluency, especially to support automation initiatives and large-scale process transformation. Demand has risen for professionals with expertise in operational resilience, regulatory change management, and automation enablement, while market and credit risk modelling capabilities have become especially prized – reflected in recent hires commanding ~20–40% salary increases, as firms pay a premium for technical depth and regulatory fluency.  

Across platforms, the ability to manage cross-region operating models and coordinate across multiple regulatory frameworks has become a defining advantage, mirroring the growing complexity of regional oversight structures. 

APAC finance & operations 2026 outlook 

Hiring is expected to remain active but increasingly selective and capability-driven, with the strongest demand concentrated in roles that strengthen governance, improve operational outcomes, and support complex products.  

Cross-functional expertise spanning risk, finance, and operations with hands-on exposure to crypto assets and options/derivatives is gaining importance as digital assets become more intertwined with broader trading strategies and regulatory scrutiny increases.  

Regionally, the Middle East (especially Abu Dhabi and Dubai) continues to emerge as a magnet for crypto proprietary trading and market-making firms securing local licenses – fuelling demand for Responsible Officers, Operational Risk specialists, and Compliance professionals to build governance frameworks and satisfy regulatory requirements in new offices. Overall, the rest of 2026 is likely to be defined by continued control-function strengthening, targeted hiring for automation/resilience/reg change, and a steady premium placed on risk talent that can operate across both traditional markets and emerging digital-asset ecosystems. 

Middle Office & Operations

Bonuses: 

• IB middle-office/operations bonuses: typically, 1–2.5 months based on firm performance 
• Buy side bonuses are higher due to fund performance variability, bonuses typically 30%–70% of total comp 

Finance 

Looking back on 2025 and market developments in 2026  

2025 and the start of 2026 has been marked by clear divergence across global markets, shaped in large part by shifting macro conditions and changing regional risk appetite. In Hong Kong, China’s 2025 mid‑year economic slowdown briefly tempered certain China‑centric hiring, but it did not materially weaken demand for China-linked sales coverage across both corporate and financial-institution (FI) client segments – largely because offshore yield-seeking and cross‑border positioning remained active.  

Within FICC, macro and rates activity has been particularly pronounced amid elevated volatility and evolving central-bank expectations, driving demand for individuals who can manage flow, risk, and client solutions in fast-changing conditions. Running alongside this, a renewed focus on fixed income financing – which gained momentum from mid‑2025 – has increased appetite for structured and solutions-oriented profiles capable of executing complex financing transactions (e.g. secured funding, structured credit, and tailored balance-sheet solutions), suggesting continued demand for technical expertise and execution capability in the second half. 

Across the region, talent flows have been amplified by both market performance and structural change. Taiwan-linked sales teams have seen disproportionate movement, reflecting intermittent volatility, a rebound in Taiwan-related trading activity, and shifts in investor appetite – while Taiwan and Korea have stood out on the equities side, supported by strong semiconductor earnings in Taiwan and meaningful tailwinds in Korea tied to technology and AI recovery alongside structural reforms. Those market gains have translated into higher demand for equities talent aligned to high‑growth, high‑beta themes, prompting firms to strengthen coverage and trading benches to capture opportunity. At the same time, consolidation among major Chinese institutions – particularly integration of onshore and offshore operations – has created the typical mix of selective hiring needs alongside merger-related exits, further lifting recruitment activity for resilient, growth-oriented profiles.  

In Singapore, the defining FICC theme has been the rapid acceleration of electronification, reinforcing Singapore’s position as the region’s leading electronic trading hub. Talent has increasingly moved between banks, fintech firms, and e‑trading platforms as competition intensifies for a narrow skills base – historically concentrated in eFX, but now expanding meaningfully into electronic fixed income (eFI) as rates and credit automation becomes a strategic priority. Firms are also widening the search pool to include Asia-origin candidates in London and New York who may be open to returning, while concurrently navigating active reshuffles in credit sales & trading and rising demand for financing / institutional solutions specialists.  

Equities has mirrored this “capability build” dynamic as certain banks step up investment in equity derivatives / equity solutions (EQD/QIS/structured), often recruiting from established houses and drawing new entrants (smaller regional platforms) into the space. 

APAC sales & trading 2026 outlook 

Hiring across global markets is expected to remain active but increasingly selective. In Hong Kong and North Asia, firms are likely to continue reinvesting in high-performing macro/rates teams and selectively adding in financing / solutions where client demand supports structured activity; however, overall expansion should remain modest given ongoing mergers and restructuring. In practical terms, much of the near-term hiring is expected to be attrition-driven backfilling, particularly in macro sales and solutions sales teams where hiring cycles started later and extended into 2025, sustaining churn into 2026.

In Singapore, the electronification trend should continue to accelerate throughout the year, sustaining demand for eFX and eFI talent as platforms scale and banks automate more sophisticated workflows; this will likely keep pressure on compensation for niche profiles and maintain cross-platform movement.  

Fixed income and financing should remain a consistent engine of hiring – especially across credit, structured financing, and institutional solutions – while equity derivatives / solutions hiring should stay constructive, supported by a mix of backfills and incremental buildouts. Overall, the remainder of 2026 is likely to be defined by targeted growth, intense competition for specialist skill sets, and ongoing structural transformation across Asia’s equities and FICC businesses.

Compensation and pay structures in the sales & trading space in Asia are highly varied between the different financial institutions such as banks, securities firms and fintech firms. 

In general, the banks still pay relatively higher on base salaries but focus less on bonuses, whereas the financial services firms have altered the structure of their compensation to be more variable pay heavy. 

Please contact us if you’d like bespoke compensation benchmarks and market mapping for sales & trading roles in your area. 

Market developments and trends in 2026  

2025 and start of 2026 has started with a strong pickup in capital-markets activity and related hiring across Hong Kong, led by the continued resurgence in ECM and sustained momentum in IPO execution. Banks have been actively building out ECM origination and execution benches to capture pipeline – particularly around Hong Kong–bound Chinese listings – with Chinese banks and securities firms driving the most aggressive expansion. European and Japanese platforms have followed with more targeted buildouts, while U.S. firms have generally stayed selective and opportunistic. The intensity of hiring and internal redeployments – including instances of relocating talent from mainland China into Hong Kong – highlights how critical IPO execution and cross-border connectivity remain to franchise strength and reinforces Hong Kong’s position as a core hub for regional capital-markets delivery. 

In parallel, Singapore’s investment banking market has continued to strengthen its role as a strategic gateway into Southeast Asia, supported by structural tailwinds such as sustained investment into digital infrastructure and a broader deepening of the financial ecosystem. Advisory and capital markets teams across global and regional banks have been expanding capabilities to capture cross-border deal flow, with digital infrastructure (data centers, cloud platforms, and connectivity assets) standing out as a consistent driver of activity alongside healthcare and semiconductors. IPO fundraising has remained comparatively steady, with issuance anchored by REITs and infrastructure-related listings that continue to appeal to yield-oriented and sustainability-minded capital.  

A defining feature of Singapore’s 2026 so far has also been the rapid scaling of alternative financing: MAS’s SGD 1 billion Private Credit Growth Fund and Temasek’s dedicated private credit platform (initial SGD 1 billion portfolio) have further legitimised private credit as a mainstream growth pillar, accelerating the shift from traditional syndicated lending toward bespoke capital solutions. As sovereign wealth funds, pensions, and family offices broaden the capital base for mid-market and infrastructure financing, banks are increasingly responding by partnering with private credit managers or building in-house strategies to remain competitive – while Singapore simultaneously gains traction as a listing venue for technology, sustainability-focused, and PE-backed issuers benefiting from improved financing conditions. 

APAC corporate & investment banking 2026 outlook 

Hong Kong is expected to have continue hiring demand for IPO origination and execution talents as Chinese issuers continue to prioritise Hong Kong listings. DCM conditions should gradually improve as rate environments stabilise, with potential re-entry and refinancing activity from China, Taiwan, and Korea supporting issuance volumes – particularly benefitting lending-driven platforms and DCM originators.  

M&A is likely to remain steady but measured: deal flow should be supported by selective acquisitions, corporate restructuring, and sector consolidation, even as valuation gaps and sponsor caution keep activity disciplined. In Singapore, mid-sized cross-border M&A is expected to dominate – especially across digital infrastructure, healthcare, and renewable energy – with joint ventures outpacing mega-mergers amid geopolitical complexity and tighter valuation frameworks. 

IPO activity should firm further for tech-enabled and sustainability-led issuers, while PE-backed IPOs continue to rebound as financing remains accessible through both private credit and syndicated channels. In DCM, MAS’s Green Finance roadmap is poised to further accelerate green bond and sustainability-linked loan issuance, reinforcing Singapore’s growing importance as a regional hub for Southeast Asia’s capital-markets, advisory, and alternative-financing ecosystem through year-end.

Cost-saving has been the talk of the town within the banks in APAC. We have seen a consolidation of roles and responsibilities across the different facets of the corporate & investment banking spectrum. As a result, Singapore CIB base salaries have plateaued, with banks prioritising cost discipline into 2026. Most financial institutions are deferring broad-based pay inflation in favour of targeted adjustments. In addition, firms are using sign-ons, role re-leveling, or selective counter offers for critical talent rather than a blanket approach to base salary raises.  

Despite these trends, upward pressure of salary remains for capital markets, structured finance, and sponsor coverage professionals as a result of increased activity and deal complexity. APAC-based investment banks are happy to consider higher increments to attract niche talents who are able to value-add origination efforts to win even more businesses and mandates.  

2025 was a year of recovery and normalisation for investment banking in Singapore rather than a full-scale boom. Deals were selective and uneven by product. Banks shifted from volume growth to return-on-capital and fee quality, tightening internal hurdle rates for deals. Singapore investment banking outperformed mature markets due to growth and demand of the ASEAN market, private capital inflows, and regional diversification. However, it underperformed peak-cycle years, reflecting global risk aversion and valuation gaps between buyers and sellers.  

2026 is shaping up as a steady but disciplined year, with growth driven by capital markets, private credit, and ASEAN-linked transactions, while traditional M&A remains cautious. Debt capital markets is expected to remain the anchor of investment banking revenues in Singapore with growth areas in project finance, sustainability-linked bonds, and private placements. Equity capital markets will have a gradual improvement, but no IPO boom is expected. Tactical capital raisings will constitute a bulk of equity capital markets transactions rather than new listings. M&A advisory will pose an even more modest recover with more sponsor exits, distressed or restructuring-linked transactions, and cross-border ASEAN consolidation will continue dominate. 

Deal performance among APAC-based investment banks improved during FY 2025/26, supported primarily by a recovery in China–Hong Kong IPO activity and increased transaction volumes across Southeast Asia’s natural resources and digital infrastructure sectors. The stronger deal environment translated into selective compensation upside, most notably within equity capital markets (ECM) teams in Hong Kong and project finance and coverage teams in Singapore. However, bonus outcomes were uneven across institutions and teams. 

Despite higher headline revenues at several bulge bracket investment banks, bonus payouts for parts of these organisations were broadly flat year-on-year compared with FY 2024/25, and in some cases lower. This divergence was largely attributable to aggressive headcount expansion at certain banks, which diluted compensation pools, as well as missed participation in landmark transactions at others. 

Hong Kong IPO activity remains resilient, driving particularly strong bonus expectations among China-focused bankers, especially those at Chinese investment banks. Bonus payouts at these firms are expected to reach 12 months or more across seniority levels. In addition, bonus payment schedules have largely normalised following the delayed payouts experienced in 2025. 

Across bulge bracket investment banks, overall bonus levels remained stable for the majority of employees. However, compensation at the Executive Director and Managing Director levels saw a notable uplift, with top performers receiving bonus payouts in excess of 12 months. High-performing junior to mid-level bankers also recorded meaningful increases, with bonus payouts rising by up to approximately 30% compared with 2025 levels. 

Hong Kong IBD Salary Benchmark (HK$) 

*Chinese investment banks and tier-2 investment banks will be announcing bonus during March-April timeline 

Hong Kong Corporate Banking Salary Benchmark (HK$) 

*These banks have not yet announced bonuses, as most of them will have different timelines such as: 

• Regional banks & Chinese/Local banks in March-April 
• Japanese banks in May-June 

Singapore Corporate Banking Salary Benchmark (SG$)

Singapore IBD Salary Benchmark (SG$)

Market developments and trends in 2026  

The private banking sector has been defined by accelerated hiring activity, structural reshaping, and intensified regional competition, particularly across Singapore, Dubai, and Hong Kong. Singapore and Dubai have solidified their positions as the most active global hubs for private banking recruitment, driven by sustained wealth inflows, favourable tax regimes, and the rapid rise of family offices. Private banks have expanded front‑office teams aggressively in these markets, while also overhauling leadership structures to enhance efficiency and deepen UHNW client coverage.  

Singapore has attracted significant numbers of private bankers from Hong Kong and Mainland China, whereas Dubai has successfully drawn talent from Europe, the UK, and broader Asia with compelling compensation packages and lifestyle benefits. Meanwhile, Hong Kong has regained hiring momentum for Greater China coverage.  

Across the industry, several Swiss private banks have streamlined leadership layers – reducing non‑revenue roles and cutting senior market heads – as part of a broader shift toward leaner, revenue‑focused operating models. This wave of restructuring, combined with ongoing cross‑border talent flows, has underscored the increasing competitiveness and fluidity of private‑banking talent markets globally. 

There has been a surge in senior‑level transitions, reflecting the intensifying competition among global private banks for seasoned relationship managers and leadership talent. Veteran bankers from Chinese securities firms have moved into major European and U.S. platforms, while senior private‑banking leaders from top‑tier U.S. firms have transitioned to Swiss institutions, highlighting the global fight for experienced coverage heads. Portable client books, strong cross‑border advisory capabilities, and deep familiarity with multi‑jurisdictional wealth have become essential differentiators, especially in hubs such as Singapore and North Asia.  

APAC wealth management 2026 outlook 

Looking ahead in 2026, hiring is expected to remain active yet increasingly strategic, with institutions prioritising roles tied directly to revenue generation, client retention, and advisory excellence. 

Several European private banks are preparing to significantly scale their platforms – including plans to double their headcounts in Hong Kong and Singapore – indicating strong continued investment in APAC wealth markets. Global banks and securities firms are also poised to expand teams in wealth planning, international coverage, and specialist advisory roles as demand for cross‑border structuring and sophisticated family‑office solutions rises. Leadership restructuring is likely to continue across Swiss and global private banks, potentially prompting further senior‑level transitions and targeted recruitment to fill emerging capability gaps. Talent poaching – especially for RMs with portable books or deep regional networks – will remain a defining competitive strategy throughout the year.

Please reach out to the Selby Jennings team should you be looking for a breakdown of compensation for wealth management and private banking roles, as compensation structures differs greatly between firms and markets. 

Market developments and trends in 2026  

1. Sell side quant & electronic trading trends 

Electronic trading talent movement

• Buy side institutions have been actively hiring low‑touch electronic sales trading talent for execution and quant trading roles, creating a “musical chairs” cycle as VP‑level departures from major international banks leave multiple gaps across HK electronic trading teams 
• After a muted year, demand for quant traders at global banks has rebounded in the most recent quarter 

Internal market making & QR build‑outs

• Bulge‑bracket banks are ramping up internal market‑making desks, hiring more quant researchers and traders to strengthen in‑house liquidity provision 
• Several global banks have set up new quantitative trading & research groups specifically aimed at accelerating electronic trading capabilities and strengthening competitiveness versus non‑bank trading firms 

AI & deep learning initiatives

• Major banks are investing heavily in AI-driven greenfield projects, incorporating LLMs and deep learning into global markets technology stacks to enhance execution quality, predictive models, and electronic market‑making performance 

2. Prop trading & systematic firms – HK & Singapore 

Expansion & hiring

• Global prop and systematic trading firms continued expanding Hong Kong operations in 2025, adding quant researchers, traders, and office space to support larger systematic teams 
• Singapore remains a major engineering and quant‑development hub, scaling teams that support global execution and research infrastructure 

Shift in trading frequencies

• Firms are increasingly moving away from pure HFT toward mid‑frequency (MFT) and lower‑frequency models as infrastructure costs rise and marginal returns to latency decline 
• Many trading teams now run hybrid architectures, combining low‑latency engines with slower, more robust quant models for improved alpha stability 

Multi‑asset quant integration

• Systematic platforms are broadening coverage across equities, fixed income, and crypto, using cross‑asset modelling to widen signal diversity and reduce dependence on any single market regime 

3. Japan quant & stat‑arb momentum 

Market drivers

• Corporate governance reforms, large‑scale buybacks, and BoJ normalisation continue to increase cross‑sectional dispersion, making Japan one of the most attractive markets globally for stat‑arb and market‑neutral quant strategies 
• Japanese hedge fund surveys indicate high confidence in alpha potential, with governance improvements strengthening signal quality and tradeability 

Talent requirements

High demand for quants with:  

• Deep Japan microstructure expertise 
• Factor‑neutral / pair‑trading model development capability 
• Corporate‑action‑aware signal engineering 

Cross‑border allocations

• Global hedge funds and prop firms increasingly target Japan equity stat‑arb experience due to persistent inefficiencies and consistently strong alpha capture 

4. Crypto quant, HFT & systematic strategies 

Hiring trends in Asia

• Multiple HFT and systematic prop shops in Hong Kong and Singapore are hiring Crypto Quant Traders/Systematic PMs, focusing on candidates capable of running strategies end‑to‑end rather than pure research profiles 
• Firms are prioritising PNL‑generating traders with low‑capital, high‑return, portable crypto strategies 

Market maturity & strategy expansion

• Crypto hedge fund AUM hit record highs in 2025; more TradFi multi‑strats have added crypto MFT strategies (holding periods ranging from hours to 2–3 days) 
• Strategy complexity continues to increase – including basis trading, multi‑venue arbitrage, funding‑rate strategies, and specialised microstructure‑focused models 
• Crypto prop firms are exploring expansion into crypto options trading and more institutional market‑making verticals 

Regional themes

• Some OMM shops with India market exposure have shown interest in crypto quant talent 
• Foreign HFTs are expanding onshore China quant efforts, while top Chinese quant funds saw strong domestic systematic performance in 2025, with leading firms returning 60%+, prompting greater appetite to expand teams and adopt deeper ML/deep learning methodologies 

Hong Kong regulatory tailwinds

• HK’s Stablecoin Ordinance (effective Aug 2025) and upcoming 2026 licensing round improves the regulatory foundation for institutional crypto‑quant operations 
• The SFC continues expanding trading‑platform, custody and OTC regulatory frameworks, accelerating institutional digital‑asset adoption in Hong Kong 
• Banks and institutions have increased involvement in tokenised products and digital‑asset rails 

5. Prediction markets (event‑driven quants) 

There has been growing interest from quant and prop firms in event‑driven trading, with some teams exploring prediction‑market strategies as an adjacent quant hiring area. Firms are cautiously evaluating these markets for systematic arbitrage and macro‑linked signals, leading to a steady uptick in demand for quants who can apply mid‑frequency and cross‑market modelling techniques in this emerging space. 

6. China & India – regional systematic expansion 

China

• Several foreign HFTs are expanding into onshore Chinese markets, trading T+0 equity and commodity products, and hiring local quant talent 
• Top domestic quant funds delivered 60%+ returned in 2025, prompting aggressive hiring of PMs with ≥ CNY 5bn AUM backgrounds 
• Chinese quant firms are increasingly allocating to Asia and U.S. equities/futures, building global trading and research infrastructure, and accelerating the integration of ML/deep learning into systematic research 

India

• Global HFTs continue expanding into Indian equities, options, and now commodities (MCX) as part of broader strategy diversification 
• Growing saturation in HFT has pushed firms toward mid/low‑frequency opportunities across Indian markets 

7. Additional macro trends across systematic firms 

• Strong interest in U.S. and China equities among global quants, with China‑oriented systematic strategies increasingly traded out of Hong Kong 
• Global HFTs are expanding into MFT equities strategies, opening more avenues for candidates from systematic hedge funds 
• Systematic trading firms are investing in in‑house AI capabilities to strengthen signal generation, model interpretability, and risk‑management tooling – creating crossover opportunities for AI engineers from big‑tech backgrounds 
• Quant funds and market making funds are continuing to allocate more resources towards building in-house fundamental research capabilities. They are typically seeking analysts with coverage across macro, commodities or large cap equities in Hong Kong, China or Australia. These teams are responsible for directional discretionary views, with a strong emphasis on a probabilistic expected value approach 

PhD Graduates

Buy Side

Sell Side

Market developments and trends in 2026

Singapore remains one of the world’s most critical oil trading, refining and logistics hubs, anchored by its strategic geography, advanced refining ecosystem and LNG infrastructure. Its position has strengthened amid global supply volatility, OPEC+ output recalibrations, and Asia’s structural energy demand growth.

1. Market fundamentals & price environment

2025–26 has been defined by volatile but downward‑trending crude prices. Brent fell steadily through H2 2025 due to high global production, rising floating storage, and inventory builds, pushing prices toward four‑year lows around US$63/bbl. Forecasts indicate continued soft pricing in 2026 as supply outpaces demand, with expected inventory builds of ~2.8 mb/d. The IEA expects global oil demand to rise ~860 kb/d in 2026, led by petrochemical feedstocks; meanwhile, OPEC+ supply discipline partially offsets growing non‑OPEC production.

For Singapore, this pricing backdrop reinforces its importance as a flexible refining and redistribution hub. Crude import patterns remain sensitive to global price swings, demand cycles, and energy‑security considerations. 

2. OPEC+ strategy & geopolitics shaping APAC flows

OPEC+ entered 2026 with a “pause and flexibility” output strategy, reaffirming voluntary cuts and the ability to reintroduce supply depending on market conditions. Seasonal pauses for February and March 2026 reflect an effort to stabilise prices amid low inventories and global economic uncertainty. Geopolitical tensions – Red Sea shipping disruptions, sanctions on Russia/Venezuela, and Middle East instability – have widened arbitrage windows and increased freight volatility, impacting trade patterns into Asia.  

Singapore trading desks increasingly price in logistics‑risk premiums and diversify crude sourcing across long‑haul barrels (U.S., Brazil, West Africa) as Asian refiners seek suitable grades for increasingly complex downstream configurations.

3. LNG: Asia’s demand engine & Singapore’s expanding role

The LNG market enters 2026 in a supply‑expansion phase, with North America, Qatar, and Africa adding major liquefaction capacity. Global LNG supply is expected to increase 7–10% in 2026, easing tightness and lowering Asian spot prices. This price relief is forecast to revive demand in China and India following price‑sensitive declines in 2025. Singapore is advancing its ambition as a regional LNG hub, progressing a second LNG import terminal (FSRU) and supporting growing bunkering demand – reinforcing its position in gas trading, storage, and ship‑fuel supply. 

4. Energy transition & downstream competitiveness

Singapore’s downstream sector continues to modernise with refinery‑petrochemical integration, hydrogen readiness, CCUS pilots, and low‑carbon fuels. These initiatives align with long‑term decarbonisation goals but also strengthen commercial optionality for refiners facing changing product slates and tightening margins. Refineries on Jurong Island increasingly rely on flexible crude slates and “value‑into‑refinery” analytics to optimise yields, especially as Asia’s imports shift toward new long‑haul sources.  

Talent landscape in 2026

• Traders: Sought for multi‑region arbitrage, able to capitalise on dislocations and volatility. Strong preference for traders with technical fluency, analytics capability, and cross‑barrel integration across crude, products, LNG and biofuels 
• Sales: Demand rising for client‑facing profiles who can structure flexible term contracts, LNG-linked deals, and energy‑transition aligned offerings (low‑carbon fuels, bunkering, CCUS‑linked value) 
• Originators: Strong preference for candidates with deep multi‑basin oil sourcing networks (U.S. Gulf, Brazil, West Africa, Middle East), reflecting APAC’s growing import dependence 
• Operators: High demand for execution specialist adept in voyage optimisation, sanctions compliance, demurrage, and re‑routing, especially amid Red Sea disruptions impacting shipping and freight economics 
• Analysts: Increasing emphasis on policy forecasting, supply‑demand modelling, and cross‑commodity correlation as global supply surges and Asian demand becomes highly price‑sensitive. Quant‑driven profiles are especially valued 

Market developments and trends in 2026

1. Tightening supply for key base metals

Supply for major base metals – especially copper and aluminum – remains structurally tight due to mine under‑performance, lower ore grades, and weak production growth. Prices strengthened in late 2025 as supply constraints met resilient industrial activity, with copper demand expected to rise 2–2.5% in 2026. Inflation and energy costs continue to elevate production expenses across global operations. Overall, base metal markets enter 2026 in a constrained but demand‑supported environment. 

2. Energy transition demand remains the structural growth engine

Electrification, renewable energy build‑out, EVs, and data center expansion remain the strongest multi‑year demand engines for copper, aluminum, lithium, nickel, and rare earths. Governments are accelerating investment and supply‑security strategies for critical minerals. This transition linked demand offsets slower traditional construction activity, especially in China. Energy transition sectors continue to anchor long‑term consumption regardless of macro cycles. 

3. Oversupply challenges in battery metals: lithium & nickel under pressure

Lithium and nickel face significant oversupply as new projects launched during the 2021–22 boom flood the market, sharply reducing prices. Producers face margin compression as inflation drives operating costs while prices stay low. Nickel oversupply is amplified by Indonesia’s rapid capacity expansion and slower stainless‑steel demand. This creates a stark split: strong fundamentals in base metals vs. surplus‑driven softness in battery metals. 

4. Geopolitics & supply chain re‑wiring accelerate

U.S.–China tensions, export controls, and resource nationalism are driving a global rewiring of critical‑mineral supply chains. Western economies are diversifying refining and processing away from China, increasing supply‑chain volatility. APAC remains the world’s largest consumption centre, while Singapore strengthens its position as a neutral, well‑regulated trading and logistics hub connecting global producers to Asian demand. These geopolitical forces now play a central role in metals pricing, flows, and strategic positioning.

5. APAC as the global demand centre; Singapore as a strategic metals hub

APAC – led by China, India, Japan, and ASEAN – remains the dominant global consumer of industrial and battery metals, driven by manufacturing strength and rapid electrification. Singapore’s neutrality, regulatory stability, and financial depth reinforce its role as a key trading and logistics hub linking major producing regions to Asia’s demand centres. Global mining majors such as BHP, Rio Tinto, and Glencore maintain significant commercial and trading operations in Singapore, underscoring its strategic importance. As supply chains fragment, Singapore’s expanding metals infrastructure and non‑aligned positioning make it an increasingly vital node in regional and global market flows.

6. Precious metals supported by geopolitical risk & regional demand strength

Gold and silver remain supported by geopolitical risk, central bank buying, and strong physical demand across Asia, reinforcing their role as defensive assets. Price resilience through 2025–2026 reflects sustained investor preference for hedges against currency volatility and macro uncertainty. Singapore’s influence in the precious metals ecosystem continues to rise, highlighted by the Asia Pacific Precious Metals Conference and its role bridging refiners, bullion banks, and global investors. The ongoing shift of physical gold flows from West to East further strengthens Singapore’s position in regional refining, vaulting, and trading networks.

Talent landscape in 2026

• Traders: Sought for multi‑market metals arbitrage across base, battery, and precious metals, with strong fundamentals in copper/aluminum tightness and lithium/nickel oversupply dynamics. High demand for traders who can interpret geopolitical risk, supply chain re‑routing, and grade quality differentials across origins 
• Sales: Rising demand for commercial talent who can structure long‑term offtake agreements, critical mineral supply contracts, and ESG‑aligned deals for energy transition clients. Sales teams must address customer expectations for sustainability, traceability, and diversified sourcing away from single‑country dependencies. 
• Originators: Strongly preferred are originators with on‑ground mining region networks (Australia, Africa, Latin America) and the ability to assess ore grades, producer risk, and regulatory environments shaped by resource nationalism and export controls. Capabilities in securing supply for critical minerals are especially valued 
• Operators: High demand for candidates adept in logistics, shipping coordination, assay/quality management, warehousing, and export control documentation. Operators must navigate disruptions driven by geopolitical shifts, freight volatility, and tighten sustainability requirements across metal supply chains 
• Analysts: Increasing emphasis on analysts skilled in supply‑demand modeling, cost‑curve analysis, critical mineral forecasting, and geopolitics‑driven scenario planning. Quant‑driven profiles are needed to interpret multi‑commodity impacts, energy‑transition demand curves, and structural tightness vs. oversupply divergences 

Market developments and trends in 2026

Singapore’s importance as a commodity trading hub continues to rise as global supply chains fragment under geopolitical pressures. Market watchers highlight that increasing trade restrictions, particularly in agriculture, have reshaped flows, reinforcing Singapore’s role as a neutral connector between producers and major consumption markets such as China and India.

1. Regulatory shifts redrawing trade flows

The EU Deforestation Regulation (EUDR) remains the biggest structural disruptor to APAC agri‑commodities. Recent revisions simplified compliance and postponed industry‑wide implementation to December 2026, but maintained strict geo‑traceability for palm oil, coffee, cocoa, rubber and soy. Producers across Southeast Asia now face higher documentation and traceability burdens, pushing trading houses to prioritise originators and operators who can deliver compliant, segregated supply chains. Coffee and palm suppliers in Indonesia, Vietnam and Malaysia are particularly affected.

2. Policy‑driven price volatility in key staples

Government interventions remain a major driver of price uncertainty. India’s rice export restrictions lifted global prices; their partial relaxation contributed to a subsequent 35% price decline in 2025 amid record Asian harvests. Supply–demand instability is expected to persist throughout 2026.  

Indonesia’s biodiesel mandate (B40 → B50) continues to divert crude palm oil into domestic energy use, tightening export availability and raising subsidy burdens. This policy significantly influences CPO balances and export volumes across APAC. These swings create stronger demand for traders with policy‑risk hedging capability and operators who can pivot logistics quickly.

3. Climate: La Niña to neutral in 2026

Regional climate centres report La Niña conditions persisting into 2026, with a transition to neutral expected. This pattern increases the likelihood of above‑average rainfall and localised flooding in parts of Southeast Asia – impacting harvest timing, port operations and inventory quality. Trading houses are prioritising analysts skilled in ENSO modelling and operators able to manage weather‑driven disruptions.

4. Demand trends: China reshapes oilseed dynamics

China’s soybeans import demand is projected around 106 MMT for 2026, with slower growth due to declining soymeal inclusion rates and shifts toward poultry and aquaculture. However, crush volumes continue to rise modestly. This keeps Brazil–China flows dominant and creates ongoing arbitrage needs between U.S., Brazil, and Asian buyers – fuelling strong hiring for traders with multi‑origin oilseed experience.

5. Industry consolidation: larger, integrated trading networks

The Bunge–Viterra merger, completed in July 2025, created one of the world’s most integrated agri‑trading platforms. China’s approval came with conditions requiring fair‑priced supply of soybeans, barley and rapeseed, ensuring influence on APAC flows. Consolidation means tighter margins, more complex flows, and greater emphasis on cross‑functional commercial talent in Singapore.

Talent landscape in 2026

• Traders: Sought for multi‑origin arbitrage, options hedging around policy windows, and strong understanding of oilseed/palm spreads 
• Sales: Demand rising for client‑facing profiles who can structure contracts with sustainability, certification and EUDR compliance components 
• Originators: Strong preference for candidates with on‑ground supplier networks and traceability/geo‑data capabilities 
• Operators: High demand for execution specialists, adept in documentation, L/C, demurrage, and diversified routing under weather/policy disruptions 
• Analysts: Increasing emphasis on macro‑policy forecasting, climate modelling, and cross‑commodity correlation analysis aligned to China‑centric demand patterns

Oil & Gas

Metals & Mining

Agriculture

Singapore continues to be Asia’s main hub for private markets and the natural base for deployment across Southeast Asia and the wider Asia‑Pacific region. Private equity activity is picking up again as dealmaking resumes after a slower 2025, though investors are still being selective following the tariff‑driven slowdown. Areas seeing the most momentum include digital infrastructure and data‑related assets, as well as healthcare and life sciences. 

For venture capital, seed and early-stage funding remains tight compared to late-stage and growth rounds which have bounced back more strongly. AI‑driven businesses, fintech infrastructure, and climate‑focused technologies continue to attract the most attention from investors. From a fundraising standpoint, naturally, it’s been tougher for first‑time or emerging managers, with capital gravitating toward more established managers that have a clear track record of delivering exits. 

At the same time, institutional investors, family offices, and private banks are putting more money in private credit as a way to diversify portfolios. Private credit is being increasingly seen as a core allocation rather than a niche alternative. With direct lending, special situations, structured credit, infrastructure and asset‑backed finance being some of the main characteristics.  

Overall, 2026 is less about chasing quick wins and more about positioning portfolios for steady, risk‑adjusted returns in a more demanding private markets environment. 

Salary Table – Private Markets 

From FY25 to FY26, Singapore has seen modest but broad‑based increases in base salaries, generally ranging from approximately 2% to 4%. Total compensation levels have remained relatively comparable to FY25, with Carry continuing to drive upside for senior investment professionals. 

Over 2025, APAC public markets investment talent landscape experienced notable changes across Greater China and broader regional strategies, leading to several key trends in 2026: 

• The return of single CIO hiring: 
  Strong performance across directional strategies in 2024, alongside robust year‑to‑date returns in 2025, has encouraged single‑CIO managers to compete more actively with multi‑manager platforms for top‑tier analyst talent. 
• Diversification of sector demand: 
  While hiring demand in previous years has been heavily concentrated in semiconductors and hardware, requirements in 2025 became more evenly distributed across consumer, internet, autos, and industrials. Healthcare and financials remain comparatively muted.  
• Increased demand for China onshore mutual fund candidates: 
  As many Hong Kong based analysts reduced China exposure in favor of broader Pan‑Asia or developed markets over recent years, the rebound in select China consumption‑oriented names has resulted in a shortage of dedicated China specialists within Hong Kong hedge funds. In response, both multi‑strategy platforms and single‑CIO managers have increasingly targeted onshore mutual fund talent, particularly analysts who maintained deep China expertise through 2023 and 2024 despite challenging conditions. 
• Top performing long only firms expanding headcount: 
  There has been a marked increase in hiring activity in Hong Kong by high performing long only firms, contributing to a more competitive talent market for fundamental analysts. Demand has been strongest for investors with exposure to thematic strategies, cyclicals and AI‑related investment opportunities. 
• Increased activity within IPO and event driven strategies: 
  A stronger IPO market in 2025 is now driving higher deal flow across ECM and event‑driven teams. Hedge funds are increasingly seeking analysts with the capability to assess businesses through an event‑driven and catalyst‑focused investment lens. 
• Continued demand for Japan and India L/S equity specialists: 
  Both multi‑strategy platforms and single‑CIO hedge funds remain active in building exposure to Japan and India, supported by attractive stock‑level dispersion and favourable structural dynamics. Demand continues to centre on fundamental, bottom‑up investors with a demonstrable ability to generate alpha within market‑neutral or low‑net frameworks. 
• Continued demand for macro hedge fund talent: 
  Macro strategies remain a core focus across APAC, driven by policy divergence and elevated dispersion across rates, FX and commodities. Demand is concentrated on investors with strong risk management and a proven ability to generate risk‑adjusted returns across asset classes, with hiring expected to remain selective but steady throughout the year. 

Salary Table – Public Markets (Multi‑Strategy Platform Hedge Funds) 

Salary Table – Single CIO Hedge Funds & Long‑Only (Investment Management)