Human Capital Alliance Inc, Thailand, Singapore: Thai firms capitalizing on global lay-offs

Although Thai financial institutions have seemingly weathered the current global economics storm, many highly paid professionals, especially in the fixed-income sector of international financial institutions, haven’t been so lucky.

During the past six months financial institutions that sold fixed-income derivative instruments have laid off people all over the region, including Thailand.

The Nation has learned that in addition to failed investment banks Lehman Bros and Bear Stearns, financial institutions such as Goldman Sachs, Standard Chartered Bank. Citigroup and Deutsche Bank have laid off many highly paid bankers in South Eas6t Asia since the global economic crisis exploded in late September.