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  1. Wealth
May 23, 2011

B’berg: Singapore to create most WM jobs

By Spear's

Singapore will create more jobs in financial services during the next 12 months than any other city, beating London and New York, said recruiter Astbury Marsden, which advises companies in Europe and Asia

Singapore will create more jobs in financial services during the next 12 months than any other city, beating London and New York, said recruiter Astbury Marsden, which advises companies in Europe and Asia.

A survey of investment bankers showed 37 percent expect Singapore to add the most jobs, the London-based recruitment firm said in an e-mailed statement. The survey showed 22 percent expect London to create the most jobs, just ahead of Shanghai and Hong Kong, while 1 percent said New York.

“Singapore has rapidly established itself as the destination of choice for City firms looking to expand their business in Asia,” said Mark Cameron, Chief Operating Officer of Astbury Marsden.

Singapore’s hedge-fund industry grew to S$59 billion ($48 billion) at the end of 2009, from about $10 billion in 2005, according to the Monetary Authority of Singapore, which is both the central bank and regulator of Singapore’s financial system.

To read the full story, visit bloomberg.com

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