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2012年04月06日 05:54 AM
通往新加坡的新丝绸之路
New silk route to Singapore
http://www.ft.com/intl/cms/s/0/ff838...44feab49a.html
Carried on Friday, 30-March-2012 by UK’s FINANCIAL TIMES
作者：英国《金融时报》 尤里•本德尔
Every year, hundreds of Chinese private
bankers gather in Hongqiao, a nondescript
corner of smog-shrouded Shanghai, to learn
the basics of wealth management. Chatting
between sessions over beef noodle soup,
after a frantic exchange of business cards,
the talk can turn to favoured destinations for
the rapidly increasing number of wealthy
Chinese. The current hot spot is undoubtedly
Singapore.
每年中国都有数以百计的私人银行家聚
集在上海虹桥，学习财富管理的基本知识—
—这里和这座烟雾笼罩的城市的其他地区看
上去别无二致，毫无特色可言。在上课间
隙，学员们急急忙忙地交换过名片后，边吃
牛肉面边闲谈。他们的话题常常会转向中国
迅速增多的富人喜欢移民去哪里。而目前最
热门的目的地无疑是新加坡。
But whether the tiny tropical state, once
dismissed by its neighbours as a “Little Red
Dot” on the map, can continue its rapid
transformation into the “Zurich of the East”
depends on the answers to three questions.
How quickly can the country reorientate
itself to new markets? Can the banks cope
with a more international clientele? And will
regulators be able to preserve a clean
reputation?
但这个一度被邻国贬斥为地图上一个
“小红点”的热带弹丸之国，能否继续其快
速转型之路，打造“东方苏黎世”，取决于
三个问题的答案：新加坡能够以多快的速度
重新自我定位，以迎合新市场？该国银行能
否应对一个更加国际化的客户群？以及监管
部门能否保持清廉的名誉？
“Singapore is preparing for huge growth
from Chinese wealthy clients,” confirms
Shanghai-born Sherrie Dai, head of China
private banking for Standard Chartered.
渣打银行(Standard Chartered)中国区
私人银行业务负责人Sherrie Dai证实：“新
加坡正准备迎接中国富裕客户的大量增
长。”Sherrie Dai出生自上海。
The increasingly integrated territory of
Hong Kong is now considered too close to
the prying eyes of Chinese authorities, while
Switzerland is too distant, both culturally
and geographically. “Singapore shares the
same Asian mentality and we will see huge
immigration from China for its high-quality
schools,” says Dai.
随着香港和中国内地的联系越来越紧
密，内地的富人们认为香港离内地监管机构
的视线范围太近了，而无论是从文化上还是
从地理上讲，瑞士又都太远了。“新加坡同
属亚洲文化，我们将看到大量中国人为了高
质量的学校而移民到新加坡，”Sherrie Dai
表示。
These assertions are backed by research
from PwC, the professional services firm,
predicting Singapore, whose financial
institutions currently manage client assets of
S$1.4tn (US$1.1tn), will take over from
Switzerland as the world’s leading wealth
management centre in 2013.
这些说法得到了专业服务公司普华永道
(PwC)的研究支持。普华永道预测，到2013
年，新加坡将取代瑞士，成为全球领先的财
富管理中心。目前，新加坡的金融机构总共
管理着1.4万亿新加坡元（合1.1万亿美元）
的客户资产。
For the 14 per cent of Chinese
millionaires looking to switch nationality
and move assets abroad, Singapore is fast
gaining ground as a desirable migration
destination against the traditional safe
havens of the US, Canada and Australia,
according to a study for the Bank of China
from the Hurun Research Institute in
Beijing.
根据胡润研究院 (Hurun Research
Institute) 与中国银行 (Bank of China) 联合
发布的一份研究报告，中国14%的高净值人群
希望移民，将资产转移至国外。在他们看
来，相比美国、加拿大和澳大利亚等传统安
全港，新加坡正迅速成为热门的移民目的
地。
These self-made millionaires, following
in the footsteps of Beijing-born action star
Jet Li, who recently acquired Singapore
citizenship and bought a S$20m property in
the city state, are taking advantage of a
controversial financial investor scheme. This
allows wealthy migrants to effectively buy
citizenship by investing at least S$10m, to be
managed by a financial institution regulated
by the Monetary Authority of Singapore
(MAS).
这些白手起家的富豪，纷纷追随北京出
生的动作片明星李连杰(Jet Li)的脚步，利
用新加坡的一项颇受争议的金融投资者计划
申请移民。李连杰最近成为新加坡公民，并
在新加坡购置了一处价值2000万新元的房
产。根据该计划，富裕的移民者实际上可以
通过投资至少1000万新元、将之交由一家由
新加坡金融管理局(MAS)监管的金融机构管
理，来换取新加坡国籍。
The Singaporean banks that filter
Chinese private clients through this
citizenship program are finding they need
to raise the service bar for this new breed of
wealthy customer. “We ask Mr Chung if he
needs Taiwanese dollars for his trip to Taipei
and we arrange for somebody to meet him
from the plane and fast-track him through
immigration to a waiting limo,” says Su Shan
Tan, group head of wealth management at
DBS Bank who has become a media celebrity
in Singapore. But most important of all, she
adds, “they must have Dom Pérignon on tap
in the airport lounge”.
通过这项国籍计划筛选中国私人客户的
新加坡银行发现，它们必须提高为这些新客
户提供的服务标准。“如果客户要去台北，
我们会询问他是否需要新台币，并为他安排
专人接机，过关时走机场快速通道，直接上
一辆等候的豪华轿车，”新加坡星展银行
(DBS)财富管理部主管陈淑珊(Su Shan Tan)
表示。她俨然已成为新加坡的一位媒体名
人。但她补充称，最重要的是，“他们必须
在机场休息室内随时供应唐培里侬香槟王
(Dom Pérignon)”。
Such conspicuous consumption is
already turning parts of Singapore into
something of a high-end brand theme park
for wealthy visitors, says Jim Prior, chief
executive of The Partners, a branding
consultancy.
品牌咨询公司The Partners首席执行官
吉姆•普赖尔 (Jim Prior) 表示，这些引人注
目的消费已经将新加坡很多地区变成了供富
裕游客享受的高端品牌主题乐园。
“To the Chinese consumer, it’s not just
about which brands they buy, but where they
buy them from,” he says. “There is
considerably more prestige attached to
travelling to Singapore to buy from the Louis
Vuitton store at Marina Bay than in buying
the same item closer to home. This is about
more than just materialism, it’s about
demonstrating an appreciation of western
style. Singapore may not quite be Paris, but
it’s a good deal culturally closer than
Shanghai.”
“对于中国消费者而言，他们在乎的不
仅仅是自己购买的品牌，还有购自哪里，”
他表示。“在新加坡滨海湾 (Marina Bay) 的
路易威登 (Louis Vuitton 店购买商品，要远
远比在家附近购买同一种商品更能彰显身
份。这不仅仅是追求物质，更是彰显对西方
时尚的鉴赏能力。新加坡也许比不上巴黎，
但在文化方面比上海接近西方许多。”
The spending habits of the newcomers
contrast with those of the established,
domestic clientele of DBS and other banks.
“Singapore has permitted the development
of one of the largest casino centres in the
world, that is only open for non-
Singaporeans, which gives you a clear sign of
who they are trying to attract,” says
Sebastian Dovey, managing partner of
Scorpio Partnership, the wealth consultancy.
“This is a China-focused initiative to rival
Macau.”
对于新加坡星展银行和其他银行而言，
这些新客户的消费习惯与既有的国内客户形
成对比。“新加坡已经批准建设一家进入全
球最大行列的赌博中心，那里只对外国人开
放，这让你一下子看出他们想吸引的客人是
谁，”理财咨询机构 Scorpio Partnership 管
理合伙人塞巴斯蒂安•多维 (Sebastian
Dovey) 表示。“这是个针对中国的项目，旨
在和澳门展开竞争。”
Many of the low-paid workers who staff
these new resorts are imported from
mainland China and native Singaporeans
complain about the new arrivals’ poor
knowledge of English. But the main gripe of
wealthier visitors is that Singaporeans’
Mandarin is not up to scratch.
在这些度假地工作的低薪工人许多都是
来自中国内地，新加坡当地人抱怨，这些新
来者的英语水平太差。但富裕游客们的主要
抱怨是，新加坡人的汉语说得不标准。
“They can’t understand what we are
saying as our accent, intonation and
pronunciation are not as precise as those in
Shanghai and Beijing,” says a senior
government officer of Chinese descent,
whose employees communicate in
“Senglish”, a mix of Malay, Mandarin and
English. “Chinese will forgive westerners for
not speaking Mandarin, but can be very
judgmental with people who look like they
should speak it.”
“他们听不懂我们说的是什么，因为我
们的口音、语调和发音不像上海和北京居民
那样标准，”一位祖籍中国的高级政府官员
表示。“中国人能原谅西方人不会讲汉语，
但对那些看起来应当会讲汉语的人会非常挑
剔。”他手下的政府雇员在沟通时使用的是
“新加坡英语”——一种马来语、汉语和英
语的混合体。
Banks also have work to do to correct
this lack of top-level language skills among
their fast-increasing armies of relationship
managers. Chinese clients confused by “put”
and “call” options have been known to lose
money because staff cannot understand their
Mandarin instructions. This is one reason
why Lee Kuan Yew, Singapore’s senior
statesman, who ruled as prime minister for
three decades and oversaw separation from
Malaysia in 1965, is calling for a renewed
“bilingualism”. The Wealth Management
Institute (WMI) – set up by Temasek
Holdings, the state-owned investment
company, which holds large stakes in listed
companies – is also grappling with the
shortage of language skills and plans
eventually to import lecturers from China.
银行也需要努力改善其快速增长的客户
关系经理队伍高级语言技能欠缺的状况。据
悉，分不清“看跌”期权和“看涨”期权的
中国客户，曾因为银行人员听不懂他们用汉
语做出的指示而遭遇亏损。这正是新加坡资
深政治家李光耀(Lee Kuan Yew)呼吁恢复
“双语制”的原因之一。李光耀曾以总理身
份治理新加坡长达30年之久，在1965年带领
新加坡从马来西亚独立出来。淡马锡控股
(Temasek Holdings) 设立的财富管理学院
(Wealth Management Institute) 也在着力解
决语言能力欠缺的问题，并计划最终从中国
引进教师。淡马锡控股是一家政府所有的投
资公司，持有一些上市公司的大量股份。
Cynthia Teong, the WMI’s chief
executive, is more confident in her mission
to raise standards of competency in private
banking and to make sure bankers turn away
illegitimate funds. This has been done
through the implementation of a code of
conduct, laid down by the MAS and enforced
through compulsory examinations.
财富管理学院首席执行官 Cynthia Teong
对于所肩负的提高私人银行竞争水平、并确
保银行从业者回绝不正当资金的使命怀有信
心。实现这一点的手段是实施由新加坡金融
管理局制定、通过强制性考试加以贯彻的行
为规范。
The authorities have been particularly
keen to wipe out the rampant mis-selling of
structured products, which many clients
complained about in the lead up to the 2008
crisis. However, the period in early 1995
when Barings Bank collapsed following the
fraudulent trading activities of Singapore-based
Nick Leeson is remembered as one of
the bleakest in the nation’s short history.
“After Barings, we have been scandal free,”
says David Lim, chief executive of the
Singapore subsidiary of Julius Baer, the
Swiss private bank. “There has been a ‘never
again’ feeling since then, and we have
significantly changed the way banks
operate.”
新加坡当局一直尤为关注扫除不当销售
结构性理财产品的猖獗行为，在2008年金融
危机爆发之前，曾有许多客户提出投诉。不
过1995年初被认为是新加坡短暂历史上最惨
痛的一段时间，当时驻新加坡的交易员尼克•
李森 (Nick Leeson) 进行的交易舞弊行为，导
致巴林银行(Barings Bank)倒闭。“巴林银
行事件后，我们就再也没有发生过丑闻，”
瑞士私人银行瑞士宝盛 (Julius Baer) 新加坡
分行首席执行官林伟民 (David Lim) 表示。
“从那时起，我们就有了一种‘决不能再发
生’的态度。我们也大幅修正了银行的经营
方式。”
Bankers working for international
groups are keenly aware of potential political
headwinds that could cut short Singapore’s
success story. They have watched the US and
European nations pursue Switzerland and
force Europe’s private banks into large
concessions. The importance of the finance
sector to Singapore’s economy means it is
“vital for us to ensure that in 2020, when we
are looking back, the legacy is a strong one”,
Lim adds.
在国际集团工作的银行业者，能够敏锐
地觉察到可能会阻断新加坡成功故事的潜在
政治影响。他们曾密切关注美国和欧洲对瑞
士施加压力、迫使欧洲的私人银行做出巨大
的让步。由于金融业对新加坡经济十分重
要，因此，林伟民补充道，“我们必须要确
保，当我们在2020年回顾过去时，会认为曾
经取得的成就很牢固”。
This must be achieved not only through
effective regulation, but also by providing
clients with a high-quality, profitable
investment strategy, says Lim. “This is a
crucial phase in the development of
Singapore. We have a critical mass of banks.
The next question is, what can we provide for
our clients? This must not just be a great
view of Marina Bay. The experience of the
portfolio must be as good as the view.”
林伟民说，这不仅需要通过有效的监管
来实现，还需要向客户提供高质量的、利润
丰厚的投资策略。“现在是新加坡的关键发
展阶段。我们已经有了数量可观的银行。下
一个问题是，我们能为客户提供什么？仅仅
有滨海湾的好风景还不够。投资组合的表现
要和风景一样好才行。”
Tax transparency will herald the start of
Singapore’s latest chapter, with the MAS
keen to learn from Swiss mistakes and make
tax evasion a criminal offence.
税收透明可以帮助新加坡揭开下一个新
的篇章。新加坡金融管理局决定吸取瑞士的
教训，将逃税定为刑事犯罪。
Along with such regulatory changes, the
government has backed a reorientation of
the country. “Singapore banks used to be
facing south; now we are facing globally,”
says Rajesh Malkani, regional head of
private banking for Asia at Standard
Chartered. “There are different views on
when we are going to overtake Switzerland,
but clearly, we are taking some very
significant strides.”
除了这些监管上的变动之外，新加坡政
府还主张重新调整新加坡的发展方向。渣打
银行亚洲私人银行业务地区负责人拉杰什•马
尔卡尼 (Rajesh Malkani) 表示：“新加坡的
银行过去面向南方，现在我们要面向全球。
对于我们什么时候能够取代瑞士，有各种不
同的看法。但显然，我们正在迈出重大的步
伐。”
译者/何黎
通往新加坡的新丝绸之路
New silk route to Singapore
http://www.ft.com/intl/cms/s/0/ff838...44feab49a.html
Carried on Friday, 30-March-2012 by UK’s FINANCIAL TIMES
作者：英国《金融时报》 尤里•本德尔
Every year, hundreds of Chinese private
bankers gather in Hongqiao, a nondescript
corner of smog-shrouded Shanghai, to learn
the basics of wealth management. Chatting
between sessions over beef noodle soup,
after a frantic exchange of business cards,
the talk can turn to favoured destinations for
the rapidly increasing number of wealthy
Chinese. The current hot spot is undoubtedly
Singapore.
每年中国都有数以百计的私人银行家聚
集在上海虹桥，学习财富管理的基本知识—
—这里和这座烟雾笼罩的城市的其他地区看
上去别无二致，毫无特色可言。在上课间
隙，学员们急急忙忙地交换过名片后，边吃
牛肉面边闲谈。他们的话题常常会转向中国
迅速增多的富人喜欢移民去哪里。而目前最
热门的目的地无疑是新加坡。
But whether the tiny tropical state, once
dismissed by its neighbours as a “Little Red
Dot” on the map, can continue its rapid
transformation into the “Zurich of the East”
depends on the answers to three questions.
How quickly can the country reorientate
itself to new markets? Can the banks cope
with a more international clientele? And will
regulators be able to preserve a clean
reputation?
但这个一度被邻国贬斥为地图上一个
“小红点”的热带弹丸之国，能否继续其快
速转型之路，打造“东方苏黎世”，取决于
三个问题的答案：新加坡能够以多快的速度
重新自我定位，以迎合新市场？该国银行能
否应对一个更加国际化的客户群？以及监管
部门能否保持清廉的名誉？
“Singapore is preparing for huge growth
from Chinese wealthy clients,” confirms
Shanghai-born Sherrie Dai, head of China
private banking for Standard Chartered.
渣打银行(Standard Chartered)中国区
私人银行业务负责人Sherrie Dai证实：“新
加坡正准备迎接中国富裕客户的大量增
长。”Sherrie Dai出生自上海。
The increasingly integrated territory of
Hong Kong is now considered too close to
the prying eyes of Chinese authorities, while
Switzerland is too distant, both culturally
and geographically. “Singapore shares the
same Asian mentality and we will see huge
immigration from China for its high-quality
schools,” says Dai.
随着香港和中国内地的联系越来越紧
密，内地的富人们认为香港离内地监管机构
的视线范围太近了，而无论是从文化上还是
从地理上讲，瑞士又都太远了。“新加坡同
属亚洲文化，我们将看到大量中国人为了高
质量的学校而移民到新加坡，”Sherrie Dai
表示。
These assertions are backed by research
from PwC, the professional services firm,
predicting Singapore, whose financial
institutions currently manage client assets of
S$1.4tn (US$1.1tn), will take over from
Switzerland as the world’s leading wealth
management centre in 2013.
这些说法得到了专业服务公司普华永道
(PwC)的研究支持。普华永道预测，到2013
年，新加坡将取代瑞士，成为全球领先的财
富管理中心。目前，新加坡的金融机构总共
管理着1.4万亿新加坡元（合1.1万亿美元）
的客户资产。
For the 14 per cent of Chinese
millionaires looking to switch nationality
and move assets abroad, Singapore is fast
gaining ground as a desirable migration
destination against the traditional safe
havens of the US, Canada and Australia,
according to a study for the Bank of China
from the Hurun Research Institute in
Beijing.
根据胡润研究院 (Hurun Research
Institute) 与中国银行 (Bank of China) 联合
发布的一份研究报告，中国14%的高净值人群
希望移民，将资产转移至国外。在他们看
来，相比美国、加拿大和澳大利亚等传统安
全港，新加坡正迅速成为热门的移民目的
地。
These self-made millionaires, following
in the footsteps of Beijing-born action star
Jet Li, who recently acquired Singapore
citizenship and bought a S$20m property in
the city state, are taking advantage of a
controversial financial investor scheme. This
allows wealthy migrants to effectively buy
citizenship by investing at least S$10m, to be
managed by a financial institution regulated
by the Monetary Authority of Singapore
(MAS).
这些白手起家的富豪，纷纷追随北京出
生的动作片明星李连杰(Jet Li)的脚步，利
用新加坡的一项颇受争议的金融投资者计划
申请移民。李连杰最近成为新加坡公民，并
在新加坡购置了一处价值2000万新元的房
产。根据该计划，富裕的移民者实际上可以
通过投资至少1000万新元、将之交由一家由
新加坡金融管理局(MAS)监管的金融机构管
理，来换取新加坡国籍。
The Singaporean banks that filter
Chinese private clients through this
citizenship program are finding they need
to raise the service bar for this new breed of
wealthy customer. “We ask Mr Chung if he
needs Taiwanese dollars for his trip to Taipei
and we arrange for somebody to meet him
from the plane and fast-track him through
immigration to a waiting limo,” says Su Shan
Tan, group head of wealth management at
DBS Bank who has become a media celebrity
in Singapore. But most important of all, she
adds, “they must have Dom Pérignon on tap
in the airport lounge”.
通过这项国籍计划筛选中国私人客户的
新加坡银行发现，它们必须提高为这些新客
户提供的服务标准。“如果客户要去台北，
我们会询问他是否需要新台币，并为他安排
专人接机，过关时走机场快速通道，直接上
一辆等候的豪华轿车，”新加坡星展银行
(DBS)财富管理部主管陈淑珊(Su Shan Tan)
表示。她俨然已成为新加坡的一位媒体名
人。但她补充称，最重要的是，“他们必须
在机场休息室内随时供应唐培里侬香槟王
(Dom Pérignon)”。
Such conspicuous consumption is
already turning parts of Singapore into
something of a high-end brand theme park
for wealthy visitors, says Jim Prior, chief
executive of The Partners, a branding
consultancy.
品牌咨询公司The Partners首席执行官
吉姆•普赖尔 (Jim Prior) 表示，这些引人注
目的消费已经将新加坡很多地区变成了供富
裕游客享受的高端品牌主题乐园。
“To the Chinese consumer, it’s not just
about which brands they buy, but where they
buy them from,” he says. “There is
considerably more prestige attached to
travelling to Singapore to buy from the Louis
Vuitton store at Marina Bay than in buying
the same item closer to home. This is about
more than just materialism, it’s about
demonstrating an appreciation of western
style. Singapore may not quite be Paris, but
it’s a good deal culturally closer than
Shanghai.”
“对于中国消费者而言，他们在乎的不
仅仅是自己购买的品牌，还有购自哪里，”
他表示。“在新加坡滨海湾 (Marina Bay) 的
路易威登 (Louis Vuitton 店购买商品，要远
远比在家附近购买同一种商品更能彰显身
份。这不仅仅是追求物质，更是彰显对西方
时尚的鉴赏能力。新加坡也许比不上巴黎，
但在文化方面比上海接近西方许多。”
The spending habits of the newcomers
contrast with those of the established,
domestic clientele of DBS and other banks.
“Singapore has permitted the development
of one of the largest casino centres in the
world, that is only open for non-
Singaporeans, which gives you a clear sign of
who they are trying to attract,” says
Sebastian Dovey, managing partner of
Scorpio Partnership, the wealth consultancy.
“This is a China-focused initiative to rival
Macau.”
对于新加坡星展银行和其他银行而言，
这些新客户的消费习惯与既有的国内客户形
成对比。“新加坡已经批准建设一家进入全
球最大行列的赌博中心，那里只对外国人开
放，这让你一下子看出他们想吸引的客人是
谁，”理财咨询机构 Scorpio Partnership 管
理合伙人塞巴斯蒂安•多维 (Sebastian
Dovey) 表示。“这是个针对中国的项目，旨
在和澳门展开竞争。”
Many of the low-paid workers who staff
these new resorts are imported from
mainland China and native Singaporeans
complain about the new arrivals’ poor
knowledge of English. But the main gripe of
wealthier visitors is that Singaporeans’
Mandarin is not up to scratch.
在这些度假地工作的低薪工人许多都是
来自中国内地，新加坡当地人抱怨，这些新
来者的英语水平太差。但富裕游客们的主要
抱怨是，新加坡人的汉语说得不标准。
“They can’t understand what we are
saying as our accent, intonation and
pronunciation are not as precise as those in
Shanghai and Beijing,” says a senior
government officer of Chinese descent,
whose employees communicate in
“Senglish”, a mix of Malay, Mandarin and
English. “Chinese will forgive westerners for
not speaking Mandarin, but can be very
judgmental with people who look like they
should speak it.”
“他们听不懂我们说的是什么，因为我
们的口音、语调和发音不像上海和北京居民
那样标准，”一位祖籍中国的高级政府官员
表示。“中国人能原谅西方人不会讲汉语，
但对那些看起来应当会讲汉语的人会非常挑
剔。”他手下的政府雇员在沟通时使用的是
“新加坡英语”——一种马来语、汉语和英
语的混合体。
Banks also have work to do to correct
this lack of top-level language skills among
their fast-increasing armies of relationship
managers. Chinese clients confused by “put”
and “call” options have been known to lose
money because staff cannot understand their
Mandarin instructions. This is one reason
why Lee Kuan Yew, Singapore’s senior
statesman, who ruled as prime minister for
three decades and oversaw separation from
Malaysia in 1965, is calling for a renewed
“bilingualism”. The Wealth Management
Institute (WMI) – set up by Temasek
Holdings, the state-owned investment
company, which holds large stakes in listed
companies – is also grappling with the
shortage of language skills and plans
eventually to import lecturers from China.
银行也需要努力改善其快速增长的客户
关系经理队伍高级语言技能欠缺的状况。据
悉，分不清“看跌”期权和“看涨”期权的
中国客户，曾因为银行人员听不懂他们用汉
语做出的指示而遭遇亏损。这正是新加坡资
深政治家李光耀(Lee Kuan Yew)呼吁恢复
“双语制”的原因之一。李光耀曾以总理身
份治理新加坡长达30年之久，在1965年带领
新加坡从马来西亚独立出来。淡马锡控股
(Temasek Holdings) 设立的财富管理学院
(Wealth Management Institute) 也在着力解
决语言能力欠缺的问题，并计划最终从中国
引进教师。淡马锡控股是一家政府所有的投
资公司，持有一些上市公司的大量股份。
Cynthia Teong, the WMI’s chief
executive, is more confident in her mission
to raise standards of competency in private
banking and to make sure bankers turn away
illegitimate funds. This has been done
through the implementation of a code of
conduct, laid down by the MAS and enforced
through compulsory examinations.
财富管理学院首席执行官 Cynthia Teong
对于所肩负的提高私人银行竞争水平、并确
保银行从业者回绝不正当资金的使命怀有信
心。实现这一点的手段是实施由新加坡金融
管理局制定、通过强制性考试加以贯彻的行
为规范。
The authorities have been particularly
keen to wipe out the rampant mis-selling of
structured products, which many clients
complained about in the lead up to the 2008
crisis. However, the period in early 1995
when Barings Bank collapsed following the
fraudulent trading activities of Singapore-based
Nick Leeson is remembered as one of
the bleakest in the nation’s short history.
“After Barings, we have been scandal free,”
says David Lim, chief executive of the
Singapore subsidiary of Julius Baer, the
Swiss private bank. “There has been a ‘never
again’ feeling since then, and we have
significantly changed the way banks
operate.”
新加坡当局一直尤为关注扫除不当销售
结构性理财产品的猖獗行为，在2008年金融
危机爆发之前，曾有许多客户提出投诉。不
过1995年初被认为是新加坡短暂历史上最惨
痛的一段时间，当时驻新加坡的交易员尼克•
李森 (Nick Leeson) 进行的交易舞弊行为，导
致巴林银行(Barings Bank)倒闭。“巴林银
行事件后，我们就再也没有发生过丑闻，”
瑞士私人银行瑞士宝盛 (Julius Baer) 新加坡
分行首席执行官林伟民 (David Lim) 表示。
“从那时起，我们就有了一种‘决不能再发
生’的态度。我们也大幅修正了银行的经营
方式。”
Bankers working for international
groups are keenly aware of potential political
headwinds that could cut short Singapore’s
success story. They have watched the US and
European nations pursue Switzerland and
force Europe’s private banks into large
concessions. The importance of the finance
sector to Singapore’s economy means it is
“vital for us to ensure that in 2020, when we
are looking back, the legacy is a strong one”,
Lim adds.
在国际集团工作的银行业者，能够敏锐
地觉察到可能会阻断新加坡成功故事的潜在
政治影响。他们曾密切关注美国和欧洲对瑞
士施加压力、迫使欧洲的私人银行做出巨大
的让步。由于金融业对新加坡经济十分重
要，因此，林伟民补充道，“我们必须要确
保，当我们在2020年回顾过去时，会认为曾
经取得的成就很牢固”。
This must be achieved not only through
effective regulation, but also by providing
clients with a high-quality, profitable
investment strategy, says Lim. “This is a
crucial phase in the development of
Singapore. We have a critical mass of banks.
The next question is, what can we provide for
our clients? This must not just be a great
view of Marina Bay. The experience of the
portfolio must be as good as the view.”
林伟民说，这不仅需要通过有效的监管
来实现，还需要向客户提供高质量的、利润
丰厚的投资策略。“现在是新加坡的关键发
展阶段。我们已经有了数量可观的银行。下
一个问题是，我们能为客户提供什么？仅仅
有滨海湾的好风景还不够。投资组合的表现
要和风景一样好才行。”
Tax transparency will herald the start of
Singapore’s latest chapter, with the MAS
keen to learn from Swiss mistakes and make
tax evasion a criminal offence.
税收透明可以帮助新加坡揭开下一个新
的篇章。新加坡金融管理局决定吸取瑞士的
教训，将逃税定为刑事犯罪。
Along with such regulatory changes, the
government has backed a reorientation of
the country. “Singapore banks used to be
facing south; now we are facing globally,”
says Rajesh Malkani, regional head of
private banking for Asia at Standard
Chartered. “There are different views on
when we are going to overtake Switzerland,
but clearly, we are taking some very
significant strides.”
除了这些监管上的变动之外，新加坡政
府还主张重新调整新加坡的发展方向。渣打
银行亚洲私人银行业务地区负责人拉杰什•马
尔卡尼 (Rajesh Malkani) 表示：“新加坡的
银行过去面向南方，现在我们要面向全球。
对于我们什么时候能够取代瑞士，有各种不
同的看法。但显然，我们正在迈出重大的步
伐。”
译者/何黎
