Two recent appointments suggest Westerners are often the favoured candidates for Asia’s top jobs.

Morgan Stanley appointed Owen Thomas, 46, as its chief executive officer for Asia. And DBS appointed 47-year-old Richard Stanley, the former chief exec for Citigroup in China, as its new chief.

Is it true that Western managers get the juiciest jobs in Asia?

Industry watchers don't seem to think so – and there’s plenty of evidence to back them up. They point to the likes of Michael Fung, chief of the Asia private banking arm of JPMorgan, and Raymundo Yu, Merrill Lynch's Asia Pacific chairman. Neither are Westerners, but they’ve snagged plum positions too.

"I suspect there is no deliberate intent to specifically hire Westerners. There are many qualified Asians holding major executive positions and in fact a few Asians helming venerable Western firms," says Leon Perera, group managing director, Spire Research & Consultancy.

The job goes to the best person with the most relevant experience. But not all foreigners will perform remarkably when chosen to lead, as some recruiters will candidly point out.

"At one time, there was a flurry of expatriate managers who were appointed to head financial institutions in Singapore – John Olds (JPMorgan) for DBS, Philippe Pailaert (of Stanchart) who succeeded him, and Tom Kloet for Singapore Exchange," says Tan Soo Jin, vice-chairman of Amrop Hever Group, describing the situation in corporate Singapore.

"Around the same time, Alex Au (of Hang Seng Bank and a Hong Konger) joined OCBC and was succeeded by David Connor. John Olds didn't stay for too long, Philippe also didn't last very long. Tom Kloet's place was taken by Hsieh Fu Hua," says Tan.

Na Boon Chong, director of consultancy for Southeast Asia at Aon Consulting, feels that Western or not, talent will cut across borders.

"Imagine an international financial centre that is made up of only local talent – sounds like an oxymoron to me," he says.