2015 Overview of Financial Industry in Singapore
Singapore – Global Financial Centre
Singapore is a leading global financial centre alongside New York, London, Hong Kong, Tokyo and Zurich.
It is the 3rd largest FX trading center behind London and New York. Singapore is also the 6th largest wealth management and offshore banking centre in the world.
Key financial strengths:
- Offshore Banking
- Wealth Management
- Fund Management
- Clearing Center
- Fixed Income Trading
- Foreign Exchange Trading
- OTC interest rate derivatives
- Commodities Trading
- REITs listings
1. The Dollars
- Banking Assets: $973.1 billion
- Life Insurance Assets: $142.5 billion
- Asset under Management: $1.82 trillion
- FX Daily Turnover: US$383 billion
2. The Financial Institutions
- Banks: 124
- Licensed Financial Advisors: 58
- Licensed Trust Companies: 52
- Registered Fund Management Companies: 236
Source: Monetary Authority of Singapore
3. For Wealth Managers & Investment Professionals
- 14 Retail Banks
- 47 Leading Private Banks
- 35 Large Fund Management Firms
- 3 Finance Companies
- 10 Life Insurance Companies
- 13 Stock Brokering Firms
4. Number of Wealth Managers in Singapore
- > 4,000 Personal Bankers & Priority Bankers
- > 3,000 Private Bankers
- > 15,000 Investment Professionals
- > 13,000 Life Insurance Agents
- > 80,000 Financial Advisors (Licensed)
Source: Caproasia Intel (2015 Estimates)
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