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<TABLE border=0 cellSpacing=0 cellPadding=0 width=452><TBODY><TR><TD vAlign=top width=452 colSpan=2>Published June 25, 2010
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>All that money, but bankers get the blues
By SIOW LI SEN
(SINGAPORE) Bankers, poor things, do suffer real pain despite being paid big bucks.
<TABLE border=0 cellSpacing=0 cellPadding=5 align=left><TBODY><TR><TD bgColor=#ffffff>[FONT=Geneva, Helvetica, Verdana, Arial, sans-serif]<!-- REPLACE EVERYTHING IN CAPITALS WITH YOUR OWN VALUES --><TABLE class=quoteBox border=0 cellSpacing=0 cellPadding=0 width=144 align=left><TBODY><TR><TD vAlign=bottom>
</TD></TR><TR><TD bgColor=#fffff1><TABLE border=0 cellSpacing=0 cellPadding=0 width=124 align=center><TBODY><TR><TD vAlign=top>'We provide counselling services anonymously.'
</TD></TR><TR><TD vAlign=top>
</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>It seems they get confused over how much is enough. And even when they are able to eat the best and shop till they drop, depression can't be kept at bay, said one speaker at yesterday's annual Institute of Banking and Finance conference.
The theme of the conference was leadership and talent issues.
'All the bankers I know want to retire at 40,' said Adrian Furnham, professor of psychology, University College London.
But then they like it so much, they push it to 50, said Prof Furnham.
He was answering a question from Piyush Gupta, DBS chief executive on money as incentive.
For many, the question of how much money is needed to retire is not so straightforward.
He cited friends who have retired and become clinically depressed because they have lost their focus in life and have no friends, said Prof Furnham.
It's not only bankers but lawyers too who find that their children do not want to follow in their parents' footsteps as they dislike their stressful lives.
Money is a great driver but it is not enough, he said. 'It's like a dinner of meringues - leaves you unsatisfied, or shopping when depressed. And it doesn't work in the long term.'
At the Singapore Exchange (SGX), looking after the mental health of staff is as important as providing recreational activities, said Seck Wai Kwong, SGX chief financial officer.
'We provide counselling services anonymously,' he said.
The mental health of staff needs to be looked after as the organisation has a high performance culture, he said.
The SGX has provided two rooms for counselling and appointments are made anonymously; as a supervisor, he does not know who is making use of the service, said Mr Seck.
He said that talent management at the SGX starts at the top. SGX chairman JY Pillay makes it a point to take the latest recruits to lunch as a way of keeping his pulse on the organisation, he said.
The financial services industry continues to be highly attractive in Singapore, hiring almost 170,000 people, said Ong Chong Tee, Monetary Authority of Singapore deputy managing director.
'According to the Hudson's Employment Outlook Survey for Q2 2010, Singapore's financial sector currently has the highest hiring expectations,' said Mr Ong in a keynote address at the conference.
'Already, Singapore's financial sector employment level at almost 170,000 has exceeded pre-crisis highs and 1Q this year continued to see strong employment growth.'
[/FONT]</TD></TR></TBODY></TABLE>
</TD></TR><TR><TD vAlign=top width=452 colSpan=2>All that money, but bankers get the blues
By SIOW LI SEN
(SINGAPORE) Bankers, poor things, do suffer real pain despite being paid big bucks.
<TABLE border=0 cellSpacing=0 cellPadding=5 align=left><TBODY><TR><TD bgColor=#ffffff>[FONT=Geneva, Helvetica, Verdana, Arial, sans-serif]<!-- REPLACE EVERYTHING IN CAPITALS WITH YOUR OWN VALUES --><TABLE class=quoteBox border=0 cellSpacing=0 cellPadding=0 width=144 align=left><TBODY><TR><TD vAlign=bottom>
</TD></TR><TR><TD vAlign=top>
- SGX chief financial officer Seck Wai Kwong
</TD></TR><TR><TD vAlign=top>
</TD></TR></TBODY></TABLE></TD></TR><TR><TD height=39>
The theme of the conference was leadership and talent issues.
'All the bankers I know want to retire at 40,' said Adrian Furnham, professor of psychology, University College London.
But then they like it so much, they push it to 50, said Prof Furnham.
He was answering a question from Piyush Gupta, DBS chief executive on money as incentive.
For many, the question of how much money is needed to retire is not so straightforward.
He cited friends who have retired and become clinically depressed because they have lost their focus in life and have no friends, said Prof Furnham.
It's not only bankers but lawyers too who find that their children do not want to follow in their parents' footsteps as they dislike their stressful lives.
Money is a great driver but it is not enough, he said. 'It's like a dinner of meringues - leaves you unsatisfied, or shopping when depressed. And it doesn't work in the long term.'
At the Singapore Exchange (SGX), looking after the mental health of staff is as important as providing recreational activities, said Seck Wai Kwong, SGX chief financial officer.
'We provide counselling services anonymously,' he said.
The mental health of staff needs to be looked after as the organisation has a high performance culture, he said.
The SGX has provided two rooms for counselling and appointments are made anonymously; as a supervisor, he does not know who is making use of the service, said Mr Seck.
He said that talent management at the SGX starts at the top. SGX chairman JY Pillay makes it a point to take the latest recruits to lunch as a way of keeping his pulse on the organisation, he said.
The financial services industry continues to be highly attractive in Singapore, hiring almost 170,000 people, said Ong Chong Tee, Monetary Authority of Singapore deputy managing director.
'According to the Hudson's Employment Outlook Survey for Q2 2010, Singapore's financial sector currently has the highest hiring expectations,' said Mr Ong in a keynote address at the conference.
'Already, Singapore's financial sector employment level at almost 170,000 has exceeded pre-crisis highs and 1Q this year continued to see strong employment growth.'
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