70% Singaporeans in senior management roles in retail banks’ local functions
MAS established a $125 million package earlier this year to encourage financial institutions (FIs) to retain, train and hire Singaporeans. A strong Singaporean core complemented by high-quality and diverse foreign talent in every major FI. We’re not quite there yet but the picture across the sector as a whole is better than often portrayed especially on social media. Singaporeans make up 70% of the workforce in the finance sector. PRs make up another 14% according to MAS estimates.