'Why I became a Singaporean'
Standard Chartered regional chief Ray Ferguson recently gave up his British passport - here's why
by Paul Gilfeather 05:55 AM Nov 08, 2010Standard Chartered Bank boss Ray Ferguson is sitting in his office overlooking Boat Quay, flicking rather excitedly through the blank pages of his brand new Singapore passport.
You would have thought having been a Singapore citizen for just two weeks, he would still be a little unfamiliar with his new nationality.
I recognise his accent and ask him if he's a Scot, expecting him to confirm. "I certainly used to be," he replies. There are no flies on this former Brit, Standard Chartered's chief executive for South-east Asia and in Singapore.
If anyone deserves a permanent base it is Mr Ferguson and his family. His work developing the British-based bank's business has taken him literally all over the world.
He has been a nomad in a pin-striped suit, revelling in the amazing experiences banking life has thrown at him.
But sometime during that 25-year "adventure", which included six different postings around the world, Singapore captured his heart.
It certainly wasn't during his first three-year stint here in the mid-'90s. And, interestingly, his decision to put down roots in Singapore was hatched before he moved his family here for the second time in 2007.
His love of the Republic seems to be born out of huge admiration for what Singapore has achieved in recent times, both as an economic powerhouse and as the near-perfect family environment.
Two of his four sons were born here and over the years, he has watched in amazement as many of the people he admires both personally and professionally have, one by one, gravitated to the area.
Speaking about his decision to surrender his British passport once and for all, Mr Ferguson told Today: "Five years ago I said, 'I will never work in the UK again. I will never live there again'.
"When you have been away for so long and disconnected from the place of your birth to such an extent, you just want to live somewhere you know you are going to be happy.
"My experience and the things I know, as well as their relative value, are all here in Singapore now."
TALENT MAGNET
It is refreshing to hear the 47-year-old high-flyer set out his reasons for severing ties with the country of his birth. He has clearly given the matter some thought, as you would expect.
Like many others, he hails the city's open, green spaces, low crime rate and world-class schools. But he is quick to stress that it is about much more than that.
Reaching hard to explain his thinking, he continued: "I've been moving around with no real roots since I began this adventure with Standard Chartered.
"My friends are all people who are on the international circuit and what is interesting is because Singapore has become such a talent magnet and international headquarters for senior people, a lot of my friends have ended up here.
"It's rather glib to just call it globalisation because there are so many more layers to it than that."
It soon becomes apparent why Singapore is the perfect environment for Mr Ferguson. "If you go back to 1994, when I was last here, I would not have thought that this is where I would end up.
"But Singapore has come on such a long, long way. It's the easiest place in the world to do business and it is the most popular place in the world for foreigners to settle in Asia.
"In addition to that, the economic outlook for the Asian economies looks very promising and Singapore has shown a very good ability to shape and adapt to forces in the world and succeed."
Mr Ferguson talks fondly about his time working for the bank in Taiwan, where he learned Mandarin, Indonesia and the Philippines. These experiences all helped him and his Manchester-born wife Clare arrive at the decision to become citizens of Singapore.
"You start to shape your thoughts around the question, 'where is it going to be'. If you are looking at the world today, it's all happening in Asia. And we have spent the last 25 years getting experience living and working in Asia.
"I have lived in many cities in the UK and around Asia, and Singapore is the best."
With so many expats reluctant to take full citizenship because of the Republic's immovable position on not allowing dual nationality, Mr Ferguson is still something of a rarity.
But the fact that he has lived and worked in so many different countries is a testament to Singapore's growing status as one of the best places on the planet to live and work.
Heading up the regional operations for one of the world's leading banks clearly has Mr Ferguson moving in some pretty impressive circles.
There are photographs in his office of him shaking hands with former United States President Bill Clinton. Mr Ferguson also previously headed the bank's operations in New York and Dubai.
FAMILY'S TIES HERE
It was when his bosses told him he would be returning to Singapore as chief executive for South-east Asia, that his long-term plans began to come together.
"I was very comfortable with coming back to Singapore, so within the first days of getting off the plane I became a permanent resident. And as soon as the minimum waiting period for PR was out of the way I went for citizenship."
He added: "It took about seven months to get to the point where I was heading up to the British High Commission, taking a queue number and then walking up to the counter and saying, 'I want to renounce my nationality please'."
Mr Ferguson admits his family's close ties with Singapore made the decision easier.
His youngest son Blair, eight, was born here, as was 14-year-old Ewan. His eldest sons Alisdair, 17, and Calum, 16, were both born in the UK but moved to Singapore within a matter of months.
The three oldest boys are all members of the Singapore Cricket Club and travel extensively with the team.
Getting down to the more practical reasons for adopting Singapore as his home, Mr Ferguson went on: "One of the great things you get about Singapore is the weather. When you contrast it to Scotland today, for instance, it's a pretty fair trade-off that most people would make.
"We do a lot of outdoor stuff with the family, we do a lot sailing. I love being by the water. I have a small sailing boat and that's all year round."
Finally, Mr Ferguson has been moved by the reaction of his Singaporean friends to the move.
"My diary is packed with celebratory meals with Singaporean friends who want to mark the event. People are very patriotic about it. I have been sent lots of gifts and cards and I had not bargained for that.
"I thought people would quietly say 'well done' but clearly it means a lot to people and I am very pleased about that."
