SG Morning Call | SG Becomes Leading Wealth Capital in APAC; Bank of SG Aims to Focus on Financial Intermediaries

SG Becomes the Leading Wealth Capital in APAC

According to Knight Frank's inaugural "Rise of the Super Wealth Hub" series, Singapore positions itself as the centre and leading wealth capital in APAC. 

This assessment uses six comprehensive indicators that measure a country’s life, work, and play aspects. This includes urban prosperity, governance and talent, legal framework, enterprise excellence, lifestyle, and opulence.

All indicators are scaled from zero to one, with one representing the highest achievement and zero the lowest.

Singapore Startups Get a Boost With EnterpriseSG’S New Global Innovation Alliance Node in New York

Singapore startups hoping to expand in the US can now tap the Global Innovation Alliance (GIA) node, which has been extended to New York City, Enterprise Singapore (EnterpriseSG) said on Wednesday (Oct 11).

Launched by Deputy Prime Minister and Finance Minister Lawrence Wong, the new GIA adds to the existing one in San Francisco’s Bay Area, and is part of a network that operates in 18 cities globally. So far, the agency has helped close to 500 Singapore companies access market opportunities and scale globally.

The new GIA node offers coast-to-coast support for Singapore tech startups looking for innovation partners, funding or to scale their businesses, said EnterpriseSG chief executive Lee Chuan Teck.

Bank of Singapore Aims to Be Major Player for Financial Intermediaries in Asia

BANK of Singapore (BOS) wants to be among the biggest players for financial intermediaries in Asia, particularly as it sees strong growth in the single family offices (SFOs) and financial intermediaries space, said chief executive officer Jason Moo.

“The big focus for us is, we’re going to revitalise the terminology of ‘Asia’s global private bank’. We are rooted in Asia… but we have global capabilities and global asset allocation,” said Moo, who took on the role in March 2023.