In an effort to make Singapore’s private banking industry future ready, the Institute of Banking and Finance (IBF) has selected Nanyang Technological University’s (NTU) Wealth Management Institute (WMI) as private banking lead training provider.
The move, supported by the Monetary Authority of Singapore (MAS), was unveiled at the official launch of WMI’s new premises at one-north.
WMI will now serve as a centralised training utility, with responsibility for improving training curriculum for private banking (PB) relationship managers (RMs). The institute will launch a range of new competencies for RMs, which includes digital skills, cross-banking and specialised market knowledge, a new management track focusing on leadership and managerial skills for senior RMs.
To ensure Singapore’s talent pool remains competitive, WMI also intends to take direction from its Private Banking International Advisory Committee that includes experienced local and international people in the private banking and wealth management sectors.
“WMI’s work is aligned with the PB and manpower strategies under the Financial Services Industry Transformation Map, to upgrade our talent pool, and build a pipeline of Singaporeans across all levels,” MAS said.