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'Crucial that Singaporean core can land top banking jobs': Tharman

Tharman: Singaporeans should also be well represented across positions

Published on Jun 17, 2013 8:10 AM
A customer uses a DBS Group Holdings Ltd. automated teller machine (ATM), standing between the ATMs of United Overseas Bank Ltd. and Oversea-Chinese Banking Corp. Ltd., at Changi Airport in Singapore, on Thursday, July 28, 2011. -- FILE PHOTO: BLOOMBERG

WHEN it comes to jobs in the banking sector, the challenge is not just to make sure that Singaporeans are adequately represented.

It is also important that they take on a good spread of positions, including the best jobs in the front office for treasury and trading, Deputy Prime Minister Tharman Shanmugaratnam said yesterday.

He added that the Monetary Authority of Singapore (MAS), together with the Ministry of Manpower, started "very active discussions" more than a year ago with banks here about their plans to develop the "Singapore core".

Mr Tharman, who is Finance Minister and MAS chairman, was speaking on the sidelines of a dialogue with Indian students at Hwa Chong Institution. He told reporters the local core in banking is "not just about numbers".

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