Capturing talent and growth in S-E Asian banking

WITH the arrival of the Asean (Association of Southeast Asian Nations) Economic Community (AEC), 2015 will be a milestone year for Southeast Asia, particularly in the banking sector. Over time, the 10 diverse markets that make up the AEC will transform into one of the world's most dynamic and integrated markets.

With a median population age of 28 and a rising affluence that is increasingly built around urban centres, the region is fast becoming the next frontier of growth for both regional and multinational financial services companies. Because of regulatory barriers and nationalistic inclinations that still exist throughout the region, it may take some time for that spirit of deep cross-market collaboration to take root. However, strong steps have already been taken with the signing of the Asean Banking Integration Framework, which allows for Asean-based banks to be classified as "local", thus providing more operational flexibility.

Finding the talent to generate scale