01 Nov '17, 5am

via @gadfly

Singapore doesn't like to leave things to chance, so when there's a play to be made for a slice of London's financial business, you can expect the city-state to pull out all stops. That's what it did on Monday. The Monetary Authority of Singapore unveiled what it calls an "industry transformation map" for wealth and asset management, foreign-exchange trading, insurance and fintech businesses. The goal is to create 4,000 net new jobs annually, and achieve real growth in the financial services and technology sector of 4.3 percent a year through 2020. The London angle hasn't been made explicit, though it's probably top of policy makers' minds. Finance industry's share of Singapore GDP 13% Banks, fund managers, investment firms, insurers and reinsurers, insurance intermediaries, payment-services providers and e-money issuers based in the U.K. all risk losing unfettered access ...

Full article: https://www.bloomberg.com/gadfly/articles/2017-11-01/sing...

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