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25-09-2014, 07:20 PM
An honorable member of the Coffee Shop Has Just Posted the Following:
LOCAL SINGAPOREANS CONTINUE TO BE UNDER REPRESENTED IN TOP POSITIONS IN FOREIGN BANKS
.node-article .field-name-link-line-above-tags{float: right;}.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;} Post date:
25 Sep 2014 - 5:21am
http://therealsingapore.com/sites/default/files/styles/large/public/field/image/Citi%20bank--621x414.JPG?itok=2ZSHENTt (http://therealsingapore.com/sites/default/files/field/image/Citi%20bank--621x414.JPG)
While more Singaporeans have recently been appointed to top jobs within foreign banks here, the total number of Singaporeans compared to Foreigners in top positions is still very low.
According to the Straits Times, there have been a string of Singaporean appointments to regional leadership roles in the finance sector such as the appointment of Mr Shee Tse Koon as Standard Chartered’s CEO for Indonesia. Mr Money K is also a Singaporean that is the global head for next generation at Citi Private Bank.
Another was Mr Tan Kock Kheng, who was appointed to Citi group’s global head of local markets risk treasury.
However, these appointments of Singaporeans to senior management positions are clearly still the minority cases as overall at Citi, Singaporeans only make up 30% of the ASEAN management committee.
Over at Standard Chartered, about 6% of all its staff hold senior management positions and within this group, only about 20% of them are Singaporeans despite the offices working out of Singapore.
Another Foreign Bank highlighted by ST was ABN Amro Bank Singapore with Mr Daniel Teo appointed as the deputy country executive. At ABN, the Singaporean to Foreigner ratio is much better at 60% Singaporeans in senior management.
In fact, this problem has been around for a long time, with finance minister Tharman last year highlighting the problem and having to have a chat with foreign banks here about the problem of having too many foreigners.
It seems that even after a whole year, the foreign banks here are slow to hire and promote more locals into top positions.
Was the ‘stern talks’ that Tharman and MOM had with foreign banks last year really effective in resolving the issues? Does more need to be done to ensure that Singaporeans aren’t systematically overlooked when it comes to hiring and promoting within foreign banks?
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?190744-Singaporeans-continue-to-be-under-represented-in-top-positions-in-foreign-banks&goto=newpost).
LOCAL SINGAPOREANS CONTINUE TO BE UNDER REPRESENTED IN TOP POSITIONS IN FOREIGN BANKS
.node-article .field-name-link-line-above-tags{float: right;}.node-article .field-name-ad-box-in-article {float: left;margin: 15px 15px 10px 0;}.node-article .field-tags{clear: both;} Post date:
25 Sep 2014 - 5:21am
http://therealsingapore.com/sites/default/files/styles/large/public/field/image/Citi%20bank--621x414.JPG?itok=2ZSHENTt (http://therealsingapore.com/sites/default/files/field/image/Citi%20bank--621x414.JPG)
While more Singaporeans have recently been appointed to top jobs within foreign banks here, the total number of Singaporeans compared to Foreigners in top positions is still very low.
According to the Straits Times, there have been a string of Singaporean appointments to regional leadership roles in the finance sector such as the appointment of Mr Shee Tse Koon as Standard Chartered’s CEO for Indonesia. Mr Money K is also a Singaporean that is the global head for next generation at Citi Private Bank.
Another was Mr Tan Kock Kheng, who was appointed to Citi group’s global head of local markets risk treasury.
However, these appointments of Singaporeans to senior management positions are clearly still the minority cases as overall at Citi, Singaporeans only make up 30% of the ASEAN management committee.
Over at Standard Chartered, about 6% of all its staff hold senior management positions and within this group, only about 20% of them are Singaporeans despite the offices working out of Singapore.
Another Foreign Bank highlighted by ST was ABN Amro Bank Singapore with Mr Daniel Teo appointed as the deputy country executive. At ABN, the Singaporean to Foreigner ratio is much better at 60% Singaporeans in senior management.
In fact, this problem has been around for a long time, with finance minister Tharman last year highlighting the problem and having to have a chat with foreign banks here about the problem of having too many foreigners.
It seems that even after a whole year, the foreign banks here are slow to hire and promote more locals into top positions.
Was the ‘stern talks’ that Tharman and MOM had with foreign banks last year really effective in resolving the issues? Does more need to be done to ensure that Singaporeans aren’t systematically overlooked when it comes to hiring and promoting within foreign banks?
Click here to view the whole thread at www.sammyboy.com (http://sammyboy.com/showthread.php?190744-Singaporeans-continue-to-be-under-represented-in-top-positions-in-foreign-banks&goto=newpost).