More than 40% employees in Citibank SG are foreigners. SGs Hate Banking Jobs?

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More than 40% employees in Citibank SG are foreigners


June 4th, 2013 | Author: Editorial



According to a mainstream media report today (4 Jun), of
Citi Singapore’s 10,000 or so employees, nearly 60% are Singaporeans, 25% are
permanent residents, and 15% are foreigners.

Permanent residents are, of course, nothing more than foreigners holding
residency permits, allowing them to stay in Singapore even if they do not have a
job. The advantage for a foreigner with PR status is he doesn’t have to worry
about quitting a job, which gives him the flexibility to change jobs. A
foreigner on, say, an Employment Pass, has to leave Singapore if he no longer
holds a job.

However, Citi Singapore’s new head of human resources Evangeline Chua, 45,
said that these days, the bank is conscious of furthering the national agenda to
build a Singapore core.

“On the one hand, we will never discriminate against one nationality, and we
will pick the best person for the job. But we will ask ourselves the fundamental
question, about whether there is a local talent we can place in the position,”
she said.

Ms Chua, a Singaporean, was appointed as head of human resources in April
this year.

She said that the bank draws on the talent pool from its affiliates around
the world if talent is scarce. Even so, Singapore still stands to benefit.

She said, “This person that we bring in from overseas can develop local
talent, and eventually the local talent can take on those functions.”

She added that progressive steps are taken to develop home-grown talent so
that Singaporeans have the right skill sets to excel in those positions and are
truly the ‘best person for the job’.

The appointment of the new head of human resources, Ms Chua, in Citi
Singapore came after Acting Manpower Minister Tan Chuan-Jin spoke in Parliament
in March 2013.

Mr Tan told Parliament that he and DPM Tharman, who is also the Finance
Minister, met senior members of the financial industry to urge them to develop a
local talent pipeline. Mr Tan said that there had been complaints of foreign
managers preferring to hire their countrymen and his ministry was investigating
the matter.

It remains to be seen if Citi Singapore will eventually increase the
proportion of Singaporeans working there.



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