Financial Services
Rise in family offices drives need for upskilling of wealth managers
Rise in family offices drives need for upskilling of wealth managers
There are 700 single-family offices in Singapore as of 2021.
Investors’ exposure to US markets down in June amidst recession concerns
The investor movement index for clients declined to 4.88 in June 2022.
Chart of the day: Almost 2 in 5 Gen Z S’poreans have a digital bank account
Older Singaporeans are less likely to have a digital bank account.
How Singapore banks are closing the gender gap
Most banks have already exceeded the 2021 regional average of 18.5% employed women per firm.
Top Excel director pays $70,000 fine for unlicensed money-changing businesses
He violated the Money-changing and Remittance Businesses Act.
Chart of the day: Asset quality of top three SG banks to remain steady
Fitch peer reviewed DBS, OCBC, and UOB in a new report.
MAS cuts down training scheme subsidies in the financial sector even further
However, the government agency still expects participation to remain robust.
MAS mulls additional consumer protection safeguards for crypto trading
Last January, MAS already restricted the marketing of crypto services.
MCT appoints former OCBC CEO as new non-executive director
Samuel Tsien led OCBC for nine years.
Withering wealth? 15% of the mass affluent plan to increase their borrowing
Two in five affluent Singaporeans also said they intend to reduce spending this year.
More funds from IPOs seen in H2 as firms face economic woes: Deloitte
Nine IPOs posted $572m in proceeds, raising the total IPO market to $790m.
Chart of the day: Singapore’s rich are getting poorer
More than 2 in 5 Singaporean rich have had their income decreased in 2021.
AIA Singapore goes on hiring spree for financial associate consultants
The firm opened 500 positions along with the launch of its Financial Associate Scheme.
B2B bad debt level increases to 9%
Agri-food had the highest average of write-offs across industries in Singapore.
Woman faces charges for unlicensed fund management business
If convicted, she will be fined up to $150,000 or detained for up to three years.
UOB prices $400m perpetual capital securities
It will be issued under a $41.5b (US$30b) global medium term note programme.
Mergers, IPOs plunge in first half of 2022
The value of the seven IPOs in Singapore so far is 90% lower than last year's.
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