Career 101: Overview
How is the wealth management industry like? Is the industry managing millions or billions of dollars? How many people are there in the industry? How many banks are there in the industry. other than banks, is there any other financial firms you can join?
These are some questions you may be wondering. Or, how do you fit in?
Singapore – Global Financial Centre
Singapore is a leading global financial centre alongside New York, London, Hong Kong, Tokyo and Zurich.
It is the 3rd largest FX trading center behind London and New York. Singapore is also the 6th largest wealth management and offshore banking centre in the world.

1. The Dollars
- Banking Assets: $973.1 billion
- Life Insurance Assets: $142.5 billion
- Asset under Management: $1.82 trillion
- FX Daily Turnover: US$383 billion
Not just millions, but billions and trillions of dollars. How do you manage them? In case you are poor with numbers:
Numbers | Digits |
Tens | $10 |
Hundreds | $100 |
Thousands | $1,000 |
Millions | $1,000,000 |
Billions | $1,000,000,000 |
Trillions | $1,000,000,000,000 |
Practical Use:
- 1 Billion Rupiah equals to USD 83,333.33
- USD/IDR: 12,000
2. For Wealth Managers & Investment Professionals

- 14 Retail Banks
- 47 Leading Private Banks
- 26 Large Fund Management Firms
- 3 Finance Companies
- 10 Life Insurance Companies
- 13 Stock Brokering Firms
With so many financial institutions, since 2005, banking employees change jobs very often. Our statistical studies show the average wealth manager switches at least 3 banks. Wealth managers usually settle down at the 3rd bank onwards, for a longer period of time.
Changing a job for wealth managers isn’t so fun. New system, new administrative structure, new colleagues to work with to provide the best advisory experience for your clients.
3. Number of Wealth Managers in Singapore
- > 4,000 Personal Bankers & Priority Bankers
- > 3,000 Private Bankers
- > 15,000 Investment Professionals
- > 13,000 Life Insurance Agents
- > 80,000 Financial Advisors (Licensed)
With the numbers rapidly changing, increasing, high turnover, going on garden leave, we have a hard time keeping track. But the sheer numbers of wealth & investment professionals in Singapore will give you a good indication of how competitive the industry is.
What is garden leave?
An employee who had resigned or left the employment, has to remain away from work during the period. The employee is to being paid during this period. Garden leave are usually given to employees who hold sensitive or important roles.
Source: Caproasia Intel 2015
Full Info: 2015 Overview of the Financial Industry
Where do you go next?
Next
- Career 101: Financial Institutions (Coming Soon)
- Career 101: Getting Started
- Career 101: Overview
- Find out more at Career
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2025 Investment Day
- March - Hong Kong
- March - Singapore
- July - Hong Kong
- July - Singapore
- Sept- Hong Kong
- Sept - Singapore
- Oct- Hong Kong
- Nov - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit