With the mainland giving the green light for increased yuan flexibility, Hong Kong banks are hiring staff to launch yuan-orientated investment products.

Recruitment specialist Eunice Ng, director at Avanza Consulting Asia-Pacific, expects to see a pick-up in demand for specialists as the mainland further relaxes currency controls.

"Clients are setting up yuan desks and need to hire people across all fronts, from mid- and back-office positions, to handle yuan funds and related yuan products," Ng says, adding China's move to internationalise the yuan has generated opportunities for people with knowledge and experience of yuan-related products, and those who possess yuan market knowledge.

In less than two months, Beijing has liberalised yuan transactions in Hong Kong and has expanded its trade settlement scheme. Analysts estimate that yuan trade settlement business could account for 40 to 50 per cent of mainland foreign trade - or nearly US$2 trillion - in three to five years.

They also believe the expansion of yuan trade and investment schemes will not only increase the volume of yuan denominated trade outside Asia, but also solidifies Hong Kong's role as a leading offshore yuan centre.

Ng says those looking to develop a career in banking management need to be prepared to travel frequently and accept regional postings.

"As the mainland banking and finance market further opens, it is becoming common for Hong Kong bankers to be assigned postings in major mainland cities and particularly in Shanghai and southern China.

"Different banks' ambitious plans to tap into the mainland market means there is a need to set up investment teams and identify suitable candidates to develop and strengthen existing operations," Ng says. "Gaining experience through working in the mainland's banking industry is seen as a worthwhile resume entry on career-focused individuals.

"Therefore, it is not surprising that people joining the banking industry are keen to gain mainland banking experience."