An important resource for the dynamic banking and financial industry, providing a definitive list of banks, financial institutions in Singapore.


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Job loss insurance not a panacea for impact of economic disruption

EVERY now and then when jobs are threatened, now more so with robotics making some jobs redundant, the idea that Singapore should have wage loss insurance programmes to protect workers from a sudden job loss or retrenchment resurfaces.

Currently, most policies available are accident-related policies, where benefits of monthly income are triggered only in the event of death or permanent disability. ...more

Life insurers ride on bullish markets to sustain reserve ratios


LIFE insurers here have gained from the bullish global markets in 2016, with most of the 10 major players remaining able to at least pay out any non-guaranteed bonuses linked to participating or Par products. And they expect 2017 data, out next year, to be even better as they ride on the buoyant sentiments.

Based on publicly available Singapore data, only two of the 10 ...more

Upbeat forecast lends hope of better returns for insurers


LIFE insurers here will be keeping their fingers crossed that the current robust investment climate extends into 2018 in order to generate better returns for their participating or Par funds, following what economists described as a "Goldilocks" (moderate growth and low inflation) 2017 and a bull market in 2016.

The financial markets this year have been buoyed by global ...more

Citi Private Bank names four bankers to new roles


CITI Private Bank has appointed four senior bankers to newly created leadership roles following the retirement of Asia-Pacific chief executive officer Bassam Salem in October.

The bank said in a statement on Tuesday that it has named Steven Lo as regional head.

Reporting to him are Rudolf Hitsch as North Asia head, Jyrki Rauhio as South Asia head and Akbar Shah ...more

Banks sing auld lang syne amid existential question: what is a bank?


THREE years ago, McKinsey took the view that while fintechs would hurt the margins of global banks, banks would be able to stand their ground in holding on to customers.

But in its latest annual report assessing banks, the global consultancy professed to have been caught off-guard by the speed at which banks have lost ground in market share to large fintechs.

And ...more

Wealth managers to be prepped for future with training


WEALTH managers here will soon get a boost in their efforts to become future-ready, with Nanyang Technological University (NTU) seeking to develop Singapore's finance and wealth management expertise.

It will do this through its Wealth Management Institute (WMI), which has been appointed as the lead training provider for private banking by the Institute of Banking and Finance ...more

Banks mine employees for bright ideas


SINGAPORE banks are trying new ways to tap the creative juices of their employees, amid the threat of large fintechs that are more nimble than the traditional institutions.

With stifling bureaucracy being a big deterrent, banks have tried to cut the red tape so staff can get direct access to management, speeding up the process of taking an idea to market.

Standard ...more

Deutsche Bank wealth arm hires 6 S'pore RMs


GERMAN lender Deutsche Bank announced on Wednesday a series of new hires to its wealth management unit in Singapore to support its growth strategy in Asia, including six relationship managers from rival firms to cover clients in South-east Asia.

The first team of four, led by Jonathan Ng, joined Deutsche Bank Wealth Management from BNP Paribas Wealth Management Singapore. ...more

Fintech transforming banking, finance: Experts

From meeting the credit needs of a farmer in Jiangsu to those of a start-up being run out of a San Francisco garage, leaders of fintech companies yesterday discussed how technology and data have changed the way banking and finance work.

Technologies like big data and artificial intelligence (AI) are helping to resolve two core issues in lending - providing a better estimate of risk, and in ...more

Veteran private banker to chair EFG International's advisory board for Asia


VETERAN private banker Tee Fong Seng is set to take over as chair of EFG International's advisory board for Asia, which will be set up later this month, the Zurich-based private bank announced on Monday.

It added that it will put up Mr Tee for election to its board of directors at its next annual general meeting in April.

The bank said in a statement: "With his ...more
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