Money Moves

Insurance major hiring top talent

by Wing Kei

T C Yeung, division head of wealth management, ING Life Insurance Company (Bermuda) Limited
Photo: Johnny Kwok

Understanding one's own financial needs is a momentous step forward in achieving self-sufficiency in wealth management. This explains why investors need the expertise of wealth management professionals.

This view is shared by TC Yeung, division head of wealth management, ING Life Insurance Company (Bermuda) Limited, who says that professional wealth management advice helps stimulate healthy growth in wealth. He adds that there has been a significant rise, in fact a boom, in investment in Hong Kong as more people feel bullish about the prospects of wealth management growing their assets.

According to Mr Yeung, there is no easy way to recruit wealth management expertise. "We look for talent who believe in our way of doing things and can align with our company culture," he says.

"Our employees' income is directly linked to their client base," asserts Mr Yeung. "In other words, they will earn more when their client network expands and that's where the job satisfaction aspect kicks in. Clients are our number one asset and we want our staff to be able to represent our company's values."

The wealth management division of ING serves as a problem-solving platform which provides financial advice. "We want to suggest a vehicle that will satisfy our clients' financial needs," he says. "And we can't stop recruiting the right talent. There is always a need for professionals and those who aspire to be."

"It's also important for staff to share their expertise and be able to provide good coaching for their subordinates. This is why a potential recruit needs to be a good team player. We have staff coming from well-known universities and people with different professional backgrounds, thus we believe this helps generate special subject ideas for different people," notes Mr Yeung.

ING Life provides two-week training sessions for beginners. On-job training is also mandatory for staff to obtain hands-on experience relevant to their position; this will help them become familiar with the company's highly-diversified structural base.

Headed by Mr Yeung, the wealth management division of ING Life now has about 18 staff and has plans for further expansion in the near future. "We increase our head count every year, but at the same time we are also picky about whom we choose. We want to hire someone who has hands-on experience of wealth management plus some work achievement," he says. "The person has to be mature and be aware of their career path. We believe that brighter candidates usually have clearer ideas on what they want from their career."

"It's always hard to get the right talent. But we look for people who can help us further develop our corporate business," Mr Yeung adds. "With more people aware of the importance of wealth management, we believe the market is an expanding one."

The wealth management market is changing rapidly and it varies according to different circumstances. The right candidates have to be mature, street smart, generous and be able to share their experience with others. "It is also important that the person chosen has to know how to live a life because wealth management is already part of all our lives," concludes Mr Yeung.

Taken from Career Times 10 March 2006, p. A2
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