Talent scouts on the prowl

Chinese financial institutions will take advantage of the global financial turmoil to attract top financial talent from all over the world rather than buy into beleaguered companies, say experts.

China Investment Corporation (CIC), the country's sovereign wealth fund, has just launched a new recruitment drive for over 30 positions across 11 categories including equity investment, fixed-income investment, alternative investment and macroeconomic research.

According to He Fan, deputy director of the financial research center of the Chinese Academy of Social Sciences, it is still not the right time for Chinese financial institutions to buy into their foreign counterparts bogged down in the financial turmoil. "But we will use the opportunity to attract financial talent."