Hong Kong: A hiring slowdown at banks in Asia is beginning to thaw, driven by demand for coders.

Lenders are adding workers to their tech departments in the region despite the economic downturn. Financial institutions are especially hungry for mobile app designers and data scientists who can build systems to crunch figures and move business online, recruiters say.

"Over the past few months, we have certainly seen the banking sector slow down its hiring due to COVID-19," said Bethan Howell, a consultant at financial recruiter Selby Jennings Ltd. "However, we are now seeing the hiring freezes thawing and with this, a large amount of roles" emerging in technology.

The recruitment plans are a promising sign for workers in an industry that remains under pressure to reduce headcount, and underscore how banks see tech investment as a priority even as the pandemic hammers economies. Asia has emerged faster from the months-long lockdown, giving room for lenders in the region to step up recruiting.

Wielding multiple offers

"Demand is strong - a lot of the talent we talk to have a few offers on hand from the finance sector," said Hubert Tam, a managing partner at recruitment firm Sirius Partners Ltd.. "While other hiring can wait, tech is not just something that you can pull the plug on. The systems need to keep running."

Social distancing has increased demand for digital services such as online banking and securities trading, and with it the need to beef up security.

Hiring spree

DBS is creating 360 tech jobs for experienced staff to bolster its digital platform, Singapore's biggest bank said last month when it announced plans to hire more than 2,000 people in its home market this year. The tech hires range from interface designers and data scientists to experts in fraud detection and compliance.

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