Singapore got only one banking and finance talent

When the CEO of Stanchart’s position was vacant, one name came up as a suitable replacement. When the CEO position of the SGX is empty, the same name came up as the worthy candidate for the job. And the candidate is already sitting pretty and happily as CEO of another big bank.

It seems that Singapore has only one citizen that is good enough to fill the position of CEO in a bank or a big financial organization. And he is not even a Singaporean 2or 3 years back. He is a new citizen, taking up the citizenship after being offered the lucrative and plum job of CEO of DBS.

Is this a happy thing or a sad thing? Where have all the native Singaporean bankers gone, or is there any left? What kind of silly country is this when it keeps bragging about being the financial centre of Asia but got no native talent good enough for any top banking job? In fact most of the CEO jobs in the banking and finance industry are filled by foreigners and the next native that could be good enough or would be trained for it would be one in the late twenties because the Minister of Finance realized recently that there is a dearth of talents among the natives in the banking and finance industry.

I bet the CEO of SGX would probably come from a little village somewhere in SE Asia or Asia, a village bumpkin, as the real talents can only be found in little remote villages where the top banker is likely to be a money lender without a shop front. And the good thing, maybe they are beefing up the 3 top local world class universities to equip them with the resources and academics to start to train native Singaporeans for the future CEO positions in finance and banking, and be ready in 30 years time.

We are always planning way ahead of our time, so they quipped, a lot of foresight and aftersight, or backside, 30 years ahead but forgot that we need these talents today. There is no top native talent in the banking and finance industry in the financial centre of Asia!

What is happening? Ya, no skills set in banking and finance among the natives in the island. The best local talent available was recently appointed to be the Chairman of Temasek while another sitting pretty in the Istana. The local banking and finance talents have either gone the dinosaur way, extinct or fossilized!

A huge hot air balloon has been floated into space calling for a foreign talent to fill the job in SGX if the best and only ‘local’ talent in DBS does not want the job.


Anonymous said...


Not sure whether organisations
and companies with FTs at the top
have a "LOCALISATION" succession
plan or not.

The "LOCALISATION" idea is not

In the 90s, the idea was launched
but do not have the WILL from the
top to see it through.

This is what you get today!

Sad! Very Sad! Very Very Sad!

Anonymous said...

Look down on successful local talent, who don't tow their line...maybe jealous even. So SAD....but doesn't really affect true local talent...just take a bit longer to succeed without THEM. Easily more than 3 local can filled this shoe, eg Loh Boon Chye, David Wong, etc

Anonymous said...

LOCALIZATION was the philosophy of Me Goh Keng Swee for Singaporeans to MNCs and Banks in the 1960s, 70s and 80s. Since 1990 LKY & GCT had reversed that...get top FTs....but got too many, almost all FAKES.

Speedwing said...

Hi RB, why don't you put your name up for the position? I am sure you would not mind the salary and the perks that come with the job. After all you are a true blue Singaporean and entitled to apply.

Anonymous said...

This is a glaring failure of PAP. After 50 years and claiming our Univeristies to be World Best, we cannot produce any good CEOs. Is this is true reflection of local talent or just a scenario created by PAP to suppress locals from taking the top spots?

Anonymous said...

if keep on depending on FTs, what
I can say is that I really feel
very very sorry for the citizens
of this very tiny city state....

why does this very tiny city
state end up like that lah.....


Anonymous said...

Because you need these talented oversea people to maintain GDP increases. Please be satisfied that these FTs are willing to come here. If they do not come, Singaporeans will be doomed and maybe back to 3rd world country.

Anonymous said...

Annon 9:46. We are talking about CEOs. Wake up man!

Anonymous said...

Anon 9.54

You wake up. You think CEOs are not talented people? They are FTs too.

Chua Chin Leng aka redbean said...

Hi Speed,

That was a nice thought. With 6 billion to choose from, no chance. Even the best locals would not have a chance.

If we don't run this island as a country, might as well sell it away to the best talents.

The NUS and NTU need to conduct courses on govt and what a country means to its citizens. I will write about it later.

The way it is going, they are going to sell their spouses, fathers and mothers when they can find better foreigners.

Anonymous said...

The most talented is CEO of Temasek, ho so far, is irreplaceable even after a worldwide talent search. PAP have proven that locals are not up to the mark or there will be questions as to why the big loser of Singapore's assets is still CEO of Temasek.

Anonymous said...

After 50 years of feasting the stomach must have grown in size and into their heads to replace the brain.

Anonymous said...

Is it true ... Singapore also only got one political talent ... LKY.
Everybody else is not so good?

"The founder of modern Singapore is on life support"


I was taught in Singapore textbooks that Sir Stamford Raffles was the founder of modern Singapore.
And Sang Nila Utama was the founder of Ancient Singapore.

If LKY is the founder of modern Singapore, than the British colonial rulers before LKY must have been very backward people.
After all, it is often said that the sun never set on the British Empire.

Anonymous said...

It is only fair that we should have FTs for our cabinet ministers as well. Give the local boys some spurs in their hide, some competition will do them good.

Anonymous said...

anonymous 12.05pm pls note......


Not surprisingly, when we
opened the whole economy up,
the parliament should also be

Then we can truly be the mega
cosmopolitan city where citizens
have multiple citizenships and
become the choice global city of
the world.

We are the world!


Anonymous said...

Just imagine this scenario

A PM from India
Finance Minister from PRC
Istana Lodger from Philippine
All the YES-Men from Bangladash, Pakistan, Thailand, Malaysia ...
That would make Singapore a truly Cosmopolitan City

All Sinkies will be happy then, right?

Chua Chin Leng aka redbean said...

I want my money back if it happens.

Anonymous said...

I want my money back if it happens.
February 27, 2015 1:07 pm

Your money should be with you at all times.
Why is it anywhere else if it's your money?

Anonymous said...

Hi RB, are you talking about your CPF? Well if I were you I would write that off. It is not yours, it never has been and it never will be. If you are lucky you might see some of that, if suay suay you are unlucky you can kiss that pot of money goodbye. Why ask for the return of CPF? With all the protest you people held in HLP, where has it got you? NOWHERE right?

Anonymous said...

That is why they are calling Sinkies daft. People take away your money and they lan lan say never mind lah, just write it off.

Now the foreigners are taking away your country, so, never mind lah, just write it off, be a taxi driver and be happy lah

Anonymous said...

This type Sinkies, 'pah see kuan sai'. A few hundred thousand dollars taken away and still say neber mind. seow kia.

And go and vote for them some more when they put $200 into your CPF you cannot touch.

Anonymous said...

The most supreme talent that ever lived will soon be unplugged.

Chua Chin Leng aka redbean said...

Every Sinkie has a share of this island and the assets built on it. If anyone wants to sell it away, all Sinkies must ask for his share.

Daft Sinkies can be happy with nothing. They don't mind getting nothing.

Chua Chin Leng aka redbean said...

Sadly many Sinkies did not think this island belong to them and don't mind all the foreigners being brought in to share or take it away from them.

Anonymous said...

Mr Bean there are only 4 seasonal sale or big sale in the Singapore Emporium and each season lasts 3 months.

b said...

Because sg is us ally, they cannot appoint yellow skin, can only appoint white or ahneh skin in banking. All yellow skin banking talents have to be sent to hk or china to please us.

Anonymous said...

Ya lah, yellow skin how to talk to them. They will ignore you and end of story.

Anonymous said...

Yellow skin is a symptom of hepatitis type A.

Anonymous said...

That india Indian FT is sure good at self promotion - planting these rumours about him being in line for all these CEO jobs. Please lah when he came intonhis current job he just hire his old India Indian kakis lah... Same story we have seen this movie a thousand times before. Stop the career ethnic cleansing of singaporeans NOW!