MARKETS & INVESTING | Staff Reporter, Singapore

Daily Briefing: Talent war heats up amidst virtual bank race; Audio recording will soon be allowed inside taxis

And check out these non-tech banking jobs that pay out over $10,000 after just three years.

From eFinancialCareers:

Homegrown tech firms Grab, Singtel and Razer have already been raiding Singapore’s banking sector for staff over the past year – and their recruitment could soon be ramped up further still as the three consider the feasibility of applying for one of Singapore's new digital banking licences. 

MAS will start taking applications for a maximum of five online-only banks next month, in one of the largest liberalisations of the local finance industry in recent years. 

No matter the timing, however, companies than launch virtual banks in Singapore won’t be able to rely on internal transferees for their headcount needs. “They will need to bring in digital technology specialists to really become key players in the market,” says Adam Davies, lead IT recruiter at iKas International in Singapore. “This will inevitably lead to some poaching of top digital talent from banks that already have mature digital banking teams,” he adds.

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From Channel News Asia:

Audio recording will soon be allowed for inward-facing recording devices inside public service vehicles such as taxis and private-hire cars although buses will be exempt to the rule, according to the Land Transport Authority (LTA).

Under the previous guidelines, public service vehicles could record video but not audio, in order to prevent commuters' conversations from being taped.

It cited a recent REACH poll of 1,000 people, which found that 9 out of 10 respondents felt these devices could help protect the interests of both commuters and drivers.

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From eFinancialCareers:

Which non-technology banking roles potentially pay $10,000 or more to associates? Unsurprisingly, global markets and investment banking jobs top the list. Associates in M&A, capital markets and trading in Singapore can potentially take home more than $15,000 a month.

Relationship managers in private banking and corporate banking still earn significantly less ($11,700 and $10,800, respectively) than their counterparts in IBD, even though there are more severe talent shortages in those sectors.

Whilst demand for generalist compliance professionals has fallen in Singapore in receny years, it remains strong for anti-money laundering specialists, resulting in top-performing AML associates receiving $12,200 salaries.

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