# Bankers go Singapore?



## Susu66 (Jun 19, 2013)

Hi Expats,

I guess you've heard this question several times. Sorry for this!
My boyfriend and I are Bankers in Luxembourg, living in Germany.(Credit and Private Banking). We would love to to work in Singapore.
Is the only way to follow the open positions on the internet and send our CV's to headhunters? I mean it seems like they dont want to hire ppl that are not living in Singapore yet or have a work permit.

Does anyone have some hints?? :fingerscrossed:


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## simonsays (Feb 11, 2009)

if you are worth your salt, you will get the job, without coming here .. 

A lot of Foreign banks recruit overseas .. 

Why not try through your own bank, to transfer here ?

BTW, is it due to Swiss regulation in stopping expat bankers that you are looking at Singapore ?? 

Singapore too is feeling the stress of too many foreigners, with local resentment running at an all time high, but .. opportunities still exist though .. try the Foreign banks first .. DB, Barcap, CS, and the like, though some have been laying off staff here too, they are recruiting for specialised areas.


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## Susu66 (Jun 19, 2013)

I dont feel comfortable to ask my own bank. They dont usual transfer ppl anywhere and I dont want them to have the impression that I will leave the bank or looking for a new position. You know what I mean? 

No actually we want Singapore or HongKong cause the situation in Luxembourg is becoming
weird. 

Thank you for your comment. I will definitively check the foreigen banks!


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## simonsays (Feb 11, 2009)

As I said, while firing is going on, hiring also is going on, albeit at a lower level

you can hit on the large recruiters, like Hays, Apar, Robert Walters and the like, who would appraise you .. 

Luxembourg is becoming weird ? What's that mean ?


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## Susu66 (Jun 19, 2013)

Oh well, all the bankers are unsatisfied.
New regulation about the automatic exchange of information to the countries about interestpayments in 2015... clients, espacially the german clients are leaving luxembourg, banks are closing.
Lets call it ''a weird situation''. I mean its not the end of the world but I guess there are better financial centre to work at.


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## BBCWatcher (Dec 28, 2012)

I think I can translate. "Weird" means clients will increasingly have to pay the taxes they owe that they're currently evading, and bankers who knowingly aid such tax-evading clients can be prosecuted.


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## Susu66 (Jun 19, 2013)

Exactly! :-D Thank god I am responsible for russian clients. They don't care. But you can feel this awkward situation everywhere. So thats why we were thinking bout Shanghai, Singapore or Hong Kong..


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## BBCWatcher (Dec 28, 2012)

Singapore is also stepping up its cooperation on tax evasion.

I suspect Hong Kong would be very slightly better if you want to continue focusing on Russian clients. Russian passport holders don't need a visa to visit Hong Kong for up to 14 days. Singapore requires Russians to have visas except for transit purposes, although in fairness Singapore makes it very easy for Russians to get visas. Hong Kong also has more nonstop airline service to/from Russia, and it's a bit closer (shorter flights).


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## Susu66 (Jun 19, 2013)

Thank you very much for this hint!!!
I just know that most of the russians are in London. But thats kinda too rainy for me  


Thank you!


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## Patch66 (Nov 25, 2012)

Im with one of the Banks you mention but in Tokyo, job likely to move to Singapore and soon. I am likely to be offered the role but concerned that what will be offered will fall way short, any indications what % percentage drop can expect coming from Tokyo to Singapore and any material out there that I can use in the event that I have to challenge offer, ie market rate for xyz in Singapore. thanks.


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## simonsays (Feb 11, 2009)

Patch66 said:


> Im with one of the Banks you mention but in Tokyo, job likely to move to Singapore and soon. I am likely to be offered the role but concerned that what will be offered will fall way short, any indications what % percentage drop can expect coming from Tokyo to Singapore and any material out there that I can use in the event that I have to challenge offer, ie market rate for xyz in Singapore. thanks.


Banks in Singapore have been shifting jobs to India, China and Poland.. Not sure if you can bargain now ..


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## Patch66 (Nov 25, 2012)

IF your remaining in same team but different country wage would have to be commensurate with grade /experience and that of peers already located in Singapore, no ? there are pay matrix in place for Bank grades though not broadcast for all to see. Unless Banks have lowered their pay matrix across the board....time will tell, just trying to convince myself Im not going to be walked over, here's hoping......


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