There will be blood in asset management

Headhunters in Hong Kong say hires in the regionÆs asset management industry have come to a halt, and expect to see layoffs and reduced packages for salespeople, investment managers and back-office executives. The distribution side will be hit harder.The good news is that the pain in asset management will be relatively benign compared to that in private banking and investment banking. There do remain some niches where hiring continues, but only for very specific candidates.The problem…