Wealth management hiring skyrockets in Singapore as Fintech push continues

Investment banking jobs, however, are growing scarce.

Singapore’s push to sustain its Fintech supremacy in the region is driving the hiring growth of financial services firms in the city-state.

According to a report by Morgan McKinley, April saw the UK Treasury announced the launch of a ‘fintech bridge’ between Singapore and the UK.

“The UK has also seen an influx of fintech related investment and job growth, though it remains to be seen if the fallout from the Brexit referendum will impact its trajectory,” the report said.

Meanwhile, while the business has grown, the report said certain industries have experiences a hiring decline, namely investment banking.

“We’re seeing a number of businesses setting up shop or launching projects in Singapore,” the report said.

“A large proportion of our work is in the financial services sector, particularly within wealth management and private banking. We saw a larger drop in this quarter in investment banking, but projects based work is busier than it has ever been,” it added.