More than 40% employees in Citibank SG are foreigners. SGs Hate Banking Jobs?

[Leongsam]

I know how a bank tick from the back of my hand...what nonsense are you talking about??

I'm not saying you're ignorant. It's just that you aren't as good as the FT that will be replacing you.

http://en.wikipedia.org/wiki/Category:Indian_bankers

 

[winnipegjets]

Exactly. One of the unspoken criteria to qualify as a female RM is to be attractive enough in order to persuade their male CitiGold and private banking clients to buy unit trusts, structured products, insurance policies and other types of securities for the bank to generate revenues.

Those RM have no bloody clues as to what they are selling. As them more details and they are dumb founded. Bankers are just salespeople, selling esoteric products which you leave you clueless.
Next time a RM sells you a product, tell them that you will buy only if they buy the same products.

 

[winnipegjets]

Sinkies are unproductive, uncreative, lazy and arrogant. That's why they're rapidly being replaced throughout Singapore society and not just at the workplace.

By 2030, they'll be a distinct minority. Once they fall below the critical mass needed to sustain the species, extinction is but a matter of time.

Agree ...I think sinkees fit in NZ.

 

[Troll]

That may be the case now but it's just a matter of time before all of you are replaced with smarter foreigners with a superior knowledge of what makes a bank tick.

I suggest you start making plans for redundancy if you have not already done so.

Locals who are able to hold their own in banking sectors back it up with results, not hot air.

As to your claims that locals are "unproductive, uncreative, lazy and arrogant", banking sector doesn't work like a farm or a factory; further, there is little room for creativity because it's always about compliance and regulations. Being lazy and arrogant isn't really an issue either. What really matters that make us worth our salt, is our results. A private banker may be playing golf 5 days in a week, but it's that one day in a year that he signs a high value client in that matters. A trader (not all traders work like that), may be playing computer games, getting on facebook and surfing SBF the whole day, but it's that one trade in a week that he puts in the rakes in hundreds or thousands, or even millions of dollars that counts.

We are not afraid of foreigners, because we have the numbers to justify our existence in the bank's payroll. If we do get sacked - yes that's how good bankers tend to go down, we can just bring our expertise to another bank with the greatest of ease.

That said, thanks very much for your concern regarding my future. I am indeed moving ahead to set up my own hedge fund, that's where the real money is without the shackles of myriad of banking regulations. I am just lining up my cards these couple of months before I set sail.

My point towards the whole thing is that, for youngsters who have just left school, they deserve a chance to get a shot at it. I started at a time when FT was not so much an issue. But for many years now, hiring managers in good banks had a real tendency to hire their own kind, and that is what must change.

 

[Leongsam]

As to your claims that locals are "unproductive, uncreative, lazy and arrogant", banking sector doesn't work like a farm or a factory; further, there is little room for creativity because it's always about compliance and regulations. Being lazy and arrogant isn't really an issue either. What really matters that make us worth our salt, is our results. A private banker may be playing golf 5 days in a week, but it's that one day in a year that he signs a high value client in that matters. A trader (not all traders work like that), may be playing computer games, getting on facebook and surfing SBF the whole day, but it's that one trade in a week that he puts in the rakes in hundreds or thousands, or even millions of dollars that counts.

There's more to banking than just trading and fund management for the rich and banking doesn't revolve around compliance and regulations.

However, I'm not surprised that Singaporean bankers would put compliance and regulations ahead of creative product development as that is how they were brought up. It has also become the Achilles heal of the Singapore mindset and explains why foreign talent is needed.

 

[halsey02]

I'm not saying you're ignorant. It's just that you aren't as good as the FT that will be replacing you.

http://en.wikipedia.org/wiki/Category:Indian_bankers

I do not want to say, how far & how deep my experience is, but when I saw the arrivals of Hongkees ( after 1997), the Pinoys & the ah nehs by the plane load, not to mention the ever flowing Malaysians plus Indonesians ( this was for, no reservist, no NS).. the writing was on the wall & that is the time I moved on. I moved on...I wasn't replaced by the FT.

I have no complaints if they came & brought skills, connections & expertise that we do not have, like from the markets of Chicago, NY, London, HK, Shanghai or Eastern Europe or even Frankfurt, Geneva or Western European countries like the Nordic Countries etc or even Middle East & Africa & especially RSA, where many of our banks or people have no expertise on.

I can & be more than par than many of these FT's & so were my colleagues & co-workers across that industry. You are perpetuating the smoke screen that our dear government is doing...FT's bring jobs...the reality is they bring chops!.

We do understand that we need foreign expertise...but to be replaced by a cheaper worker from the third world & displacing you to become a third rate citizen in your own country & struggling to make a living to feeding an expensive government , that only the 60% daft people can understand.

We weren't replaced, we were displaced, kicked out, thrown out...

 

[kiss]

Please do not talk nonsense, I have been in the Banking & Finance Industry for some time & others...so do not talk nonsense.

Dont blame him, he has been living in Hobbit house for too long...

 

[kiss]

Dont blame him, he has been living in Hobbit house for too long...

He is certainly not here for reasoning... just to irritate Sporn. LeongSam, i love u !!!

 

[halsey02]

Dont blame him, he has been living in Hobbit house for too long...

Those that are living in Hobbit Houses are usually small time thieves, Oh! I understand.

 

[kiss]

Locals who are able to hold their own in banking sectors back it up with results, not hot air.

As to your claims that locals are "unproductive, uncreative, lazy and arrogant", banking sector doesn't work like a farm or a factory; further, there is little room for creativity because it's always about compliance and regulations. Being lazy and arrogant isn't really an issue either. What really matters that make us worth our salt, is our results. A private banker may be playing golf 5 days in a week, but it's that one day in a year that he signs a high value client in that matters. A trader (not all traders work like that), may be playing computer games, getting on facebook and surfing SBF the whole day, but it's that one trade in a week that he puts in the rakes in hundreds or thousands, or even millions of dollars that counts.

We are not afraid of foreigners, because we have the numbers to justify our existence in the bank's payroll. If we do get sacked - yes that's how good bankers tend to go down, we can just bring our expertise to another bank with the greatest of ease.

That said, thanks very much for your concern regarding my future. I am indeed moving ahead to set up my own hedge fund, that's where the real money is without the shackles of myriad of banking regulations. I am just lining up my cards these couple of months before I set sail.

My point towards the whole thing is that, for youngsters who have just left school, they deserve a chance to get a shot at it. I started at a time when FT was not so much an issue. But for many years now, hiring managers in good banks had a real tendency to hire their own kind, and that is what must change.

What sort of fund ? Equities ? or mixed ?

 

[halsey02]

What sort of fund ? Equities ? or mixed ?

Hedge Funds..read...

 

[kiss]

Hedge Funds..read...

i meant to say his area of focus in the fund.

It can be currencies, commodities, equities, credit default... etc.

 

[prancku]

Locals can't get these banking jobs because of the criteria "........ privates banging by night".

Cecilia Sue, Pang Chor Mui, Laura Ong and a few more not media exposed...do these meet your criteria for employment???

 

[Kuailan]

I am with a US Bank, and many of my colleagues are true blue Sinkies, with reservist liabilities to fulfil. Obviously you know nothing!

Perhaps Citibank wants to employ Pinoy with fake degree bought for US$5.00 from their back lane,
this show on Fake degree was on one of the TV program "Discovery channel"

So Citibank happily employ these Pinoy in their job...