Hiring Aggressively
How then will asset valuations for banks themselves increase? Surely investors in financial stocks, patient as they have turned out to be, ask the question? Shaari’s answer is telling of his leadership style – calm, considered. «The ability to continue to attract net new money from existing and new clients will help,» he says but «the average assets per banker may not rise as much as [investors] would like because banks are hiring aggressively in markets like North Asia.»
Add to this the looming prospect of new banking licenses for wholly virtual banks and the competitive landscape in Asia seems very competitive indeed. «We can withstand all of those things if we are a good bank,» Shaari emphasizes.
Virtual Banks in Singapore?
«I don’t have an answer on whether or not Singapore will allow virtual banks,» Shaari says, «but for me, it is business as usual. We have every right to exist if we are determined to excel.»
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