FINANCIAL SERVICES, HR & EDUCATION | Staff Reporter, Singapore

Daily Briefing: Check out investment bankers' salaries at JP Morgan; US VoIP firm 8×8 buys local startup Wavecell for $169.9m

And UOB partners with SG Enable, ARC, MINDS and SPD to boost inclusive hiring in Singapore.

From eFinancialCareers:

As at many of its rivals, JP Morgan in Singapore pays its front-office investment banking analysts $120,000 on average. As an associate, your base pay will rise to approximately $150,000 and cash bonus would be around $25k, depending on performance.

The big money kicks in at VP level for JP Morgan’s Singapore-based investment bankers. VPs earn average salaries of $240,000, whilst their cash bonuses could reach $67,000, according to Glassdoor’s approximate figures.

There’s a significant increase in salaries (about $325,000) and bonuses ($100,000) once employees get to executive director rank at JP Morgan in Singapore.

Read more here.

From e27:

8×8, Inc., a provider of cloud-based voice, video, chat and contact centre solutions, has announced the acquisition of Singapore-based Wavecell, a communications platform-as-a-service (CPaaS) provider, for approximately $169.9m (US$125m) in a cash-and-stock deal.

The deal comprises approximately $93.8m (US$69m) in cash and $76.1 (US$56m) in 8×8 common stock, of which $16.3m (US$12m) of common stock is subject to certain vesting restrictions over a three-year period.

The acquisition allows 8×8 to have an established technology platform to pursue CPaaS globally and expand its cloud business from Unified Communications-as-a-Service (UCaaS), Contact Center-as-a-Service (CCaaS), and Video into the CPaaS market in Singapore, Indonesia, the Philippines, Thailand, and Hong Kong.

With this acquisition, Wavecell is expected to accelerate 8×8’s growth, expand its international presence, and deepen the company’s technology capabilities with an R&D centre.

Read more here.

From HumanResources:

United Overseas Bank (UOB) has announced a collaboration amongst the public, private, and people sectors in Singapore to form ‘The Unlimited’ initiative.

Under the new initiative, UOB is partnering SG Enable, Autism Resource Centre (ARC), Movement for the Intellectually Disabled of Singapore (MINDS) and SPD to connect businesses with people with disabilities for suitable and sustainable employment.

Surveying 220 key decision-makers at companies in Singapore, UOB found that two-thirds would hire people with disabilities if provided with sufficient guidance on the hiring process.

Hence, ‘The Unlimited’ aims to encourage companies, starting with UOB’s corporate clients, to take the first step and to facilitate the process of hiring for interested companies. A pilot of UOB’s inclusive hiring initiative was commenced in July 2017 where the bank successfully facilitated the employment of people with disabilities by three companies from the food and beverage, hospitality and manufacturing industries.

Read more here.

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