\n<\/p>\n
Mr Kher Sheng Lee, co-head for Asia Pacific at the Alternative Investment Management Association, likened senior investment professionals such as portfolio managers to \u201crace car drivers\u201d. But a much larger team sits behind each driver.\u00a0<\/p>\n
\u201cThe jobs are in the garage, the corporate offices, the research labs,\u201d he said.\u00a0<\/p>\n
These include analysts, traders, risk and compliance professionals, as well as operations and technology teams. A broader ecosystem of fund administrators, prime brokers, lawyers and auditors also supports their work.\u00a0<\/p>\n
Singapore\u2019s asset management industry employs close to 25,000 people, about 80 per cent of whom are locals.\u00a0<\/p>\n
Observers say the issue is not a general shortage of finance professionals, but a scarcity of talent at the very top \u2013 people with specialised expertise and long investment track records.\u00a0<\/p>\n
Financial centres around the world are competing for the same small pool.\u00a0<\/p>\n
\u201cThe talent we’re looking at is very scarce. Scarcity at the very top of the game is a global challenge,\u201d said Mr Lee, adding that financial centres such as New York and London face the same challenge.<\/p>\n
Investing requires not only technical skill but also the temperament to make difficult calls under pressure, he said. \u201cYou’re making judgment calls with other people’s savings, their investments. That’s a very important heavy obligation.\u201d\u00a0<\/p>\n
Such qualities can take years \u2013 and several market cycles \u2013 to develop, he added. \u201cThat’s why these people are highly sought after.\u201d\u00a0<\/p>\n
Singapore\u2019s strategy is to bring some of these experienced professionals here, then build teams and investment activities around them.\u00a0<\/p>\n
Professor Lawrence Loh of the Department of Strategy and Policy at the National University of Singapore (NUS) Business School described the approach as \u201canchor first and then multiply after\u201d.\u00a0<\/p>\n
\u201cWe are not looking at just them as persons. In fact, we are looking at the whole sector, the whole value chain or pipeline,\u201d he said.\u00a0<\/p>\n<\/div>\n
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TALENT BEYOND THE TOP\u00a0 Mr Kher Sheng Lee, co-head for Asia Pacific at the Alternative Investment Management Association, likened senior investment professionals such as portfolio…<\/p>\n","protected":false},"author":1,"featured_media":82918,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/dam.mediacorp.sg\/image\/upload\/s--E5h42A7L--\/c_crop,h_900,w_1600,x_0,y_96\/c_fill,g_auto,h_676,w_1200\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2024\/11\/25\/iStock-1365204248.jpg?itok=VmMk2uH0","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[3016,675,899,1606,2037,29605,5639,10984,209,9771,2718,75],"class_list":["post-82917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-bigger","tag-faces","tag-global","tag-investment","tag-locals","tag-propel","tag-push","tag-roles","tag-singapores","tag-talent","tag-test","tag-top","wpcat-2-id"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/82917","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=82917"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/82917\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/82918"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82917"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82917"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82917"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}