The Singapore technology jobs beating BofA's hiring freeze
Yesterday, Bloomberg reported that Bank of America is implementing a hiring freeze in an effort to curb costs. However, unnamed insiders at BofA said the freeze wouldn't apply to "the most vital positions... in units that have seen revenue growth." One of the vital areas was technology, and some of those technology jobs appear to be in Singapore.
Around 70% of the technology jobs currently open at BofA are in Singapore. The vast majority are at VP level.
Despite the hiring freeze, BofA has continued to open new Singaporean technology jobs in the past few weeks. They include Python programming opportunities for developers to work on the macro and credit trading areas of the bank's Quartz risk management and pricing system.
The roles supporting technology trading come after BofA had an exceptional fourth quarter in fixed income trading, with revenues rising 49% year-on-year. This bank said this was partly due to some epic macro trading recruitment in 2022. That may not be repeated in 2023, but trading technologists are still needed.
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