[h=2]Singapore’s over-reliance on Anton Caseys[/h]
January 25th, 2014 |
Author: Contributions
This morning the internet was abuzz with news that Anton Casey, the now infamous FT wealth manager has escaped Singapore with his wife and son in tow. To us at The Unseen Singapore it was good riddance as it saved the people of Singapore time and money that would have been spent trying evict him out of our Singapore. Now that he is physically gone, has the problem been solved as well?
The answer is NO! The root problem in Singapore is our over-reliance on foreign PMETs. These foreign PMETs form their own cliques, employ their own friends and carry on with life as though it was in their home country. There is simply no motivation to do as the Singaporeans do. Hence the arrogant and elitist higher than thou behaviour emerges.
The Singapore finance industry is a perfect example of this over-reliance on foreign PMETs and its cliquish orientation. People like Anton Casey are part of an elite group of Caucasian expat wealth managers that are here in Singapore to work and lead the high life. Just take a walk down Shenton way during lunch hour and you see the hordes of Caucasians in suit and ties on the streets. Is there truly a need for these experts to manage wealth in Singapore? Are Singaporeans incapable of doing this job? Why is it that after so many years of being a financial hub, Singaporeans are still unable to call the wealth manager profession their own? Why is there this persistent over-reliance on foreigners who are at most B grade talents from their own countries?
Some may debunk this fact as being isolated to the finance industry and it is not an endemic problem which exists elsewhere. To show that this over-reliance on foreigners is real and alive, just take a look at Singapore’s education sector, a sector that doesn’t exist for profits but for the betterment and education of young Singaporeans.
Take the National University of Singapore History department for example, it has a total number of 39 academic faculty members, out of which only 11 are Singaporeans (boxed in red below). This is a disappointing 28% out of the entire History department.
If you look further, you realise that this is not isolated to the History faculty but others as well. Others like the NUS Political Science department presents an even grimmer proportion of Singaporeans. Out of the 34 faculty members only 9 are Singaporeans (boxed in red below)! This gives us an even lower Singaporean proportion of 26%. Is NUS trying to say Singapore talent is less worthy than B-grade foreign talent? If our own universities don’t nurture our own kind, who will?
This blatant preference for foreign academics is even more frustrating when aspiring young academics are refused jobs at local universities and forced to pursue their academic research overseas. But this is hardly surprising since the faculty heads themselves are dominated by foreigners, who by nature are inclined to bring in their entire village of B-grade talents. This lust for foreigners not only denies opportunities to capable Singaporeans, it also dwindles our already minuscule Singaporean core within the local education system.
The Unseen Singapore
* The author blogs at theunseensingapore.blogspot.sg.
This morning the internet was abuzz with news that Anton Casey, the now infamous FT wealth manager has escaped Singapore with his wife and son in tow. To us at The Unseen Singapore it was good riddance as it saved the people of Singapore time and money that would have been spent trying evict him out of our Singapore. Now that he is physically gone, has the problem been solved as well?
The answer is NO! The root problem in Singapore is our over-reliance on foreign PMETs. These foreign PMETs form their own cliques, employ their own friends and carry on with life as though it was in their home country. There is simply no motivation to do as the Singaporeans do. Hence the arrogant and elitist higher than thou behaviour emerges.
The Singapore finance industry is a perfect example of this over-reliance on foreign PMETs and its cliquish orientation. People like Anton Casey are part of an elite group of Caucasian expat wealth managers that are here in Singapore to work and lead the high life. Just take a walk down Shenton way during lunch hour and you see the hordes of Caucasians in suit and ties on the streets. Is there truly a need for these experts to manage wealth in Singapore? Are Singaporeans incapable of doing this job? Why is it that after so many years of being a financial hub, Singaporeans are still unable to call the wealth manager profession their own? Why is there this persistent over-reliance on foreigners who are at most B grade talents from their own countries?
Some may debunk this fact as being isolated to the finance industry and it is not an endemic problem which exists elsewhere. To show that this over-reliance on foreigners is real and alive, just take a look at Singapore’s education sector, a sector that doesn’t exist for profits but for the betterment and education of young Singaporeans.
Take the National University of Singapore History department for example, it has a total number of 39 academic faculty members, out of which only 11 are Singaporeans (boxed in red below). This is a disappointing 28% out of the entire History department.
If you look further, you realise that this is not isolated to the History faculty but others as well. Others like the NUS Political Science department presents an even grimmer proportion of Singaporeans. Out of the 34 faculty members only 9 are Singaporeans (boxed in red below)! This gives us an even lower Singaporean proportion of 26%. Is NUS trying to say Singapore talent is less worthy than B-grade foreign talent? If our own universities don’t nurture our own kind, who will?
This blatant preference for foreign academics is even more frustrating when aspiring young academics are refused jobs at local universities and forced to pursue their academic research overseas. But this is hardly surprising since the faculty heads themselves are dominated by foreigners, who by nature are inclined to bring in their entire village of B-grade talents. This lust for foreigners not only denies opportunities to capable Singaporeans, it also dwindles our already minuscule Singaporean core within the local education system.
The Unseen Singapore
* The author blogs at theunseensingapore.blogspot.sg.
