Financial Times, 2 Oct 2008, Sumathi Bala
Global and local banks in Singapore are investing heavily in education and training to shore up their talent base, as demand for qualified private bankers grows in the region.
UBS and Credit Suisse, two of the biggest suppliers of private banking services, have been active in this area, putting in place a strategy to expand the depth and breadth of knowledge in the Asia-Pacific region, as part of a longer-term solution to address skill gaps.
“A shortage of talent remains a major challenge for the wealth management industry in the region, including Singapore,” says Tee Fong Seng, head of UBS Wealth Management for south-east Asia.
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