Singapore has been named the most desired destination for investment bankers to work, receiving 27% of the vote in a poll conducted by the recruitment firm Astbury Marsden. London slipped to second place in the survey which also includes Hong Kong, New York and Dubai in its top five.
The lure of London for finance professionals is declining can be accounted for by increased regulation, domestically and from the EU, and the prevalent demonization of bankers in the national press.
The results contrast with comments made by Lord Adair Turner, chairman of the Financial Services Authority, suggesting that [the idea of] ”people going off to Hong Kong or Singapore or Brazil to escape our capital and liquidity regimes is a complete fantasy”. The results would indicate a growing appetite to re-locate.
For Cityjobs candidates, an increased breadth of available working locations offers choice and scope for career advancement as well as opportunity to travel.
Singapore is viewed as a rising, dynamic financial stronghold with competitive tax rates and a respect for financial services. With other emerging financial centers like Shang-Hai and Hong Kong, Cityjobs hopes London can retain its attraction and continue to be hot spot for the world’s best financial talent.Read More