In April, one of Europe’s most senior bankers flew into Singapore. After meeting his own people he sat down for lunch with Lee Hsien Loong, Singapore’s deputy prime minister and finance minister. After the usual round of pleasantries, Lee hit the banker with the two all-important questions now facing Singapore.
First, would he be bringing more investment banking capabilities into Singapore, so boosting its presence in the country and the region? “He asked us in a very roundabout manner where we saw our business evolving but we knew what he meant,” says a banker present at the lunch.
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