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Singapore poaching UK FinTech experts

by on16 November 2016

Brexit side effect

The UK trying to leave the European Union is opening up an opportunity for Singapore to recruit talent for its ambitious plans to become a leading financial technology hub.

Chief FinTech officer of Singapore’s central bank said that immediately after Brexit it started looking at poaching UK talent.

Sopnendu Mohanty of the Monetary Authority of Singapore at a panel discussion at Singapore's first FinTech festival said that the UK had a huge pool of talent waiting to be headhunted.

This somewhat miffed Britain's economic secretary to the treasury, Simon Kirby, one of the officials in attendance, told the audience that London will remain a leading financial centre. However, he did admit that Singapore might lure some of the talent.

Mohanty said Singapore was making its own efforts to develop talent, building a research centre dedicated to FinTech and retraining people from the financial industry.

He said that people needed to "wake up" to the need to learn new skills, Mohanty said, as "financial services in 5-10 years’ time will be all FinTech".

Last modified on 16 November 2016
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