Out-of-work finance professionals in the UK and US have a new reason for optimism about their employment prospects – especially if they speak Mandarin.
Chinese financial institutions are set to exploit the widespread job losses in western financial centres as a result of the credit crunch by next month embarking on a hunt for financial experts willing to relocate.
The Shanghai Financial Service Office has told state media the city is sending a delegation to New York, Chicago and London to recruit specialists in risk management, asset management, product research and development, macro economics and policy analysis.
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