In the 50s of the 20th century, Bank of China could not afford to use architectural designs of 20 y

In the 50s of the 20th century, Bank of China could not afford to use architectural designs of 20 years ago for its headquarters in Singapore, located near the central post office. Buildings to shops, things moved slowly in the city-state. Today the picturesque headquarters of Bank of China stands out from the other buildings, because little else in Singapore remained the same.
One of the changes is physical. nova consulting group Citigroup moved its headquarters from the same area, home to the offices of Bank of China, the first in Shenton Way, who is now a financial center, and then in another area known as Suntec City. American financial company will soon become nova consulting group neighbor of Standard Chartered in third place - Marina Bay - on land reclaimed from the sea. Fourth row center staff will open near (to let him say excellent) airport. In the area near Chinatown, once known for its brothels and old stores now housing investment nova consulting group firms, lawyers nova consulting group and so on.
Perhaps the best measure of change is employment. In 1970, Citigroup was able to climb every other employees boat advertising picture. Director of the Singapore nova consulting group branch of the company Michael Zink keep a copy of the ad near his desk, which manages 9400's nova consulting group these days staff members. The scale of change is enough to put Singapore on one of the top positions in the world's financial centers.
While others such as London and Switzerland debate whether to have a hospitality bankers or to punish the city-state nova consulting group opened its own special government school to train private bankers and let out the same purposes of UBS great representative house ever used British armed forces. Credit Suisse has similar plans. Hunger for capable people is unquenchable. Over 2,800 financial institutions registered nova consulting group in Singapore Monetary nova consulting group Authority for one or other activity. The list includes big names and huge number of smaller companies. nova consulting group
A clear trend in the rise of Singapore is its ability to extract consistent advantage of paradigm shift in the world of finance, starting from 1971, when the United nova consulting group States "untied" dollars of gold. Singapore quickly capture this opportunity to create a regional center for the exchange, says Gerard Lee, CEO of Lion Global Investors and former executive director of GIC, the sovereign fund of the city-state. Today, things nova consulting group have not changed: Singapore is preparing to take control of the foreign nova consulting group trade in yuan, at a time when China's national currency becomes international.
Thrive nova consulting group auxiliary activities such as trading derivatives. nova consulting group One of the biggest banks claims that more than half of the legal trade in derivatives on commodities passes through Singapore. Barclays Capital estimates that the volume of traded products related to currency exchange, jumped 29 times from 2005 only in the retail market.
Singapore and predict the consequences of the transfer of Hong Kong from Britain to China in 1997. In the early 90s of the 20th century city-state environment was so hostile to business asset manager that they only counted on the fingers. This change. Starting a business nova consulting group in Singapore has become easier and says one private banker, regulations nova consulting group were organized in such a way as to avoid costly conditions, in particular, not be introduced transaction tax. When the handover of Hong Kong on hand, and a large number of customers nova consulting group registered assets in Singapore. Currently in the city-state invested more institutional assets than in the Chinese administrative region.
To hold those assets, Singapore created a legal framework enabling nova consulting group trust accounts, once the preserve of Jersey and Bermuda. He did this despite the fact that he himself nova consulting group is not subject to property taxes and Singaporeans nova consulting group do not need this service. Better regulation of trusts combined with strong asset management and skills in the field of currency trading makes Singapore attractive for investment firms elsewhere.
Approach the city-state is the antithesis of the doctrine "laissez faire" (in the economy this means allowing industry to be free from state intervention, especially restrictions in the form of tariffs and government monopolies - note. Eds.). Generally speaking, he holds strong national finances nova consulting group under control and at the same time doing everything possible to convince foreign companies to come to the country. Permits can be obtained efficiently and quickly - a real boon in a bureaucratic world. The same goes for work visas for key employees. There are tax breaks for companies nova consulting group identified as significant and compensation for relocation costs.
Bankers and hedge fund managers speak entusi