The Productivity Commission has found that, notwithstanding the banks’ belated success in bringing service into the 21st century, they and their competitors aren’t particularly competitive.
Headcount stands at a record 24,174, up by almost 2,000 (9%) year on year. Singapore’s largest local bank has not been on a hiring frenzy, however.
Asian engagement is no longer an optional extra. It has already been five years since the size of the Asian middle class surpassed the entire population of Europe, while the region accounts for over half of all global growth.
In a tougher regulatory world and one where our digital footprints appear largely indelible, the theory is that tight, professionally honed structures are the way forward.
The report, which was published last week, states that in a post-Brexit world Asian financial institutions are particularly concerned about risk and uncertainty.
Jiemian.com list of 1,000 richest billionaires ranks Tencent’s Ma Huateng, on 282 billion yuan, as top man and Yang Huiyan, on 149 billion yuan, top woman