Singapore sees uptick in demand for fund admin businesses in 2015

See which roles in the industry are in demand.

Several mergers within the Singapore fund administration industry this year, including the move of accounting service firms into the private equity fund administration, are pushing for private equity fund clients in most of the fund admin business.

Morgan McKinley recently released its Asia Pacific Employment for 3Q14 revealing a 13% increase in financial services jobs vacancies – up from 13,576 vacancies in Q2 2014 to 15,316 in Q3 2014 across the region.

In 2015, Singapore is likely to see more fund admin players entering the country as the Monetary Authority of Singapore plans to strengthen the industry and attract more players. There are currently about 20 Fund Admin businesses in Singapore (including the banks) but only four or five of them cover private equity fund administration.

Hedge fund administrators are expanding their average team size to 40-50 and some of the leading hedge fund administrators have expanded up to 200 headcount in Singapore.

‘In demand’ roles that the monitor has noted recently include those in the field of: fund accounting; private equity fund accounting (junior-level); private equity fund administration (mid management AVP and VPs); project and change and general technology recruitment remain buoyant. Additionally some corporate secretarial roles; middle office trade support roles; and transfer agency corporate action roles have proven to be recent areas of hot interest for hiring. Finally there has also been an increase in demand for sales directors, MDs in fund administration and and Senior MD level positions in custody.