Options Group Targets Asia

An improving Asian economy and a greater interest in some of the corporate issuers there has prompted the Options Group, a New York-based executive placement firm, to open a new office dedicated to those markets.

The recently launched office in Newport Beach, Calif. will serve as a hub for recruiting professionals for jobs in Asia, said Bob Reed, a managing partner of the firm. Asia is growing again, the economies of the region have stabilized, and there is a lot of demand for professionals in all fields, he said. The region should experience a significant rebound in hiring in 2000.

In the investment banking field, there is a need for people to tackle the large piles of distressed corporate credits and bank loans. There will also be a need for professionals to cover Asian research, Reed said, now that investors are once again showing a keen interest in the region.

The Options Group already has an office in Asia, located in New Delhi, India, Reed said, but over the course of next year, the firm would like to increase its presence in the region, and will most probably open another office in Tokyo, Japan. The Newport Beach office enables the company to have better access to the Asian job market, Reed said.

In April, the Options Group opened an office in London, to cater to the growing demand for financial professionals there (HYR 4/5/99). The firm focuses on finding professionals to cover the growing European high yield market.