2008
2008 NEWS
SINGAPORE 'S STATUS AS WEALTH MANAGEMENT HUB RISES WHILE SWITZERLAND STUMBLES
"Singapore , with the highest density of millionaires in the world, is seeing wealth management prosper as the US and Europe grapple with the worst slump in a generation. "
TRAINING GROUND FOR A NEW BREED
"The main facilities of Singapore's Wealth Management Institute are tucked away in a corner of a city-centre office block that houses the headquarters of the island- republic's sovereign wealth fund, Temasek Holdings. In just seven years, the Temasek-run institute has become the main training ground for a new breed of Asia's wealth managers."
THE NICHE THAT MAKES ALL THE DIFFERENCE
"A growing crop of specialist masters degrees, such as SMU's Master of Science in Wealth Management, are luring professionals away from MBAs. Professor Tan Chin Tiong, SMU deputy president of provost, says niche masters degrees are gaining in popularity, although MBAs retain their dominant position."
PRIVATE BANKS ROLL OUT SPECIAL UNITS TARGETING MEGA-RICH
"More private banks in Singapore are rolling out new special units to cater to Asia's super wealthy- a lucrative but largely under-served segment. Banks observe that the region's mega-rich, who have well over US$30 million (S$41 million) in investible assets each , are moving more wealthy to Singapore."
PRIVATE BANKING INDUSTRY BOOMING
"In 2003, the Wealth Management Institute was established to spearhead the development of human resources and nurture a pipeline of wealth management professionals," explained Francis Koh, Associate Dean at the SMU's Lee Kong Chian School of Business. In addition, SMU started offering a specialised masters degree programme in 2004. The course has since graduated about 130 students.
TALENT CRUNCH IN SINGAPORE
Professor Francis Koh explains how the wealth management master's programme imparts both hard knowledge and soft skills.
MWM ON TV TOKYO
Professor Francis Koh explains that SMU can play a part in contributing to the wealth management industry to help grow the Singapore economy
