S'pore's finance sector needs better resilience

[SINGAPORE] Singapore may have remained steadfast in the face of the recent global financial crisis (GFC), but it is not immune to future threats of this nature nor to the upheaval in global markets, given the internationalisation of its domestic financial services sector.

Navigating an increasingly complex global financial landscape - with macroeconomic threats, complex regulation and technological development - is not its only challenge, however. The financial services sector needs to ensure that it rides fully on the growth potential of the region it sits in, particularly in the areas of wealth management, fund management and infrastructure finance.

McKinsey & Company put it this way: "During the current period of further global economic restructuring, Singapore's financial services sector should take measures to boost its resilience in order to sustain stable growth."