CLSA Increases Junior Banker Pay 30% to Stem Exodus

The video discusses the competitive landscape of private wealth management in China, particularly in Hong Kong, as banks like HSBC, Morgan Stanley, and Goldman Sachs expand their operations. It highlights the financial opening in China and the Greater Bay Area expansion. CLSA faces challenges with talent retention after a crackdown by its parent company, China CITIC Securities, leading to significant defections. The video also covers market reactions to pay increases and strategic moves by banks to retain talent.

In what ways are banks in Hong Kong responding to China's financial opening?

What impact did the crackdown on risk in pay have on the workforce of the firm controlled by China CITIC Securities?