Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Rankings & dataMarch 1 2012

Singapore top centre for inward financial FDI

The Asian city state of Singapore attracted more foreign investment in its financial sector than any other IFC in the world over the past year. Geneva, Edinburgh and Glasgow were notable risers in the ranking, while troubled Madrid lost significant ground.
Share the article
twitter-iconcopy-link-iconprint-icon
share-icon
Singapore top centre for inward financial FDI

Singapore has attracted the largest levels of foreign direct investment (FDI) in its financial sector over the past year, with just under $1.5bn spent on 49 projects – a capital investment not as high as the previous year but that still secured the Asian financial centre the global lead in this ranking. Of the 20 largest individual projects worldwide, six came out of Singapore, including the biggest deal of the year. This was HSBC’s $788m investment to expand its Singaporean operations and workforce by about 1000 people.

Interestingly, the second largest investment was in Geneva – which occupies eighth place in the ranking, up from 39th last year – where JPMorgan spent $221m to increase its wealth management operations in the Swiss centre, as the bank planned to hire 400 new employees in its wealth management, commodities trading and industry financing divisions. This will bring total staff of JPMorgan’s private banking unit in Geneva to 1000 by the end of 2012.

To continue reading, join our community and benefit from

  • In-depth coverage across key markets
  • Comments from financial leaders and policymakers worldwide
  • Regional/country bank rankings and awards
Activate your free trial
Silvia Pavoni is editor in chief of The Banker. Silvia also serves as an advisory board member for the Women of the Future Programme and for the European Risk Management Council, and is part of the London council of non-profit WILL, Women in Leadership in Latin America. In 2019, she was awarded an honorary fellowship by City University of London.
Read more articles from this author