By Annie Dang

Asurge in IPO activity in Hong Kong will result in more job opportunities for lawyers, according to a number of recruiters.

With strong IPO activity recorded in the Hong Kong market, law firms are looking to bolster their capital markets and banking and finance teams. “Many corporate departments are bolstering up their departments by hiring paralegals, associates and senior associates who are heavily involved in IPO projects,” said Ricky Mui, legal division manager for Robert Walters.

In-house roles have seen the biggest growth in the financial services sector, with senior level vacancies in general corporate and M&A in the major investment banks, while there has also been an increase in recruitment activity during first half of the year  in the IT/Telecommunications, FMCG and retail industries.

With the market looking to recruit talent in the financial services sector to meet increasing IPO activity, salary inflation is also increasing. A number of firms are placing more competitive salary packages on the table to retain their top-tier talent, as the GFC pay freezes start to thaw.

But it may be a different story for Singapore-based lawyers. “IPO activities in Hong Kong are definitely far more vibrant due to its close relations to the China market compared with Singapore,” said Jasmine Sim, legal division consultant at Robert Walters’ Singapore office.

 “While Hong Kong has seen significant growth in its capital markets since January 2010, Singapore’s growth has been conservative and organic, and with the alternative structuring of many IPOs in Singapore, the significant growth will only be expected in the next few quarters,” she said.