UBS launches inaugural UBS Youth Finance Academy to groom Singaporean bankers of the future
Singapore, 10 June 2015 – UBS welcomed graduates of the inaugural UBS Youth Finance Academy, a program that introduces pre-tertiary students to the world of finance and business. UBS marked this milestone with 50 graduates from 18 pre-tertiary institutions in an inaugural graduation ceremony officiated by Mr. Edmund Koh, Country Head of UBS Singapore and Ms. Ong Puay See, Chief Executive Officer, Institute of Banking and Finance.
The inaugural UBS Youth Finance Academy was announced last September to celebrate the 50th anniversary of UBS in Asia and the 50th anniversary of Singapore. It serves as the focal point for UBS's efforts to provide education and development opportunities to youths in Singapore and aims to inspire, increase awareness and deepen understanding on banking and finance careers and what it takes to work in this industry. This program will also provide a glimpse into how the financial industry works through interactive sessions facilitated by UBS's subject matter experts.
Singapore's financial sector forms approximately 12 percent of Singapore's GDP, with about 1,000 financial institutions performing roles in Singapore, the region and globally, employing almost 190,000 people locally.1 By exposing interested students to potential banking and finance careers at the pre-tertiary level, UBS aims to strengthen the talent pipeline in Singapore and support continued growth of this sector. Approximately 50 students will be selected to participate each year, gaining industry insights and networking opportunities through this program.
Mr. Edmund Koh, Country Head of UBS Singapore said: "As Singapore continues to gain greater importance as a global financial center, it is important to nurture more young Singaporean bankers for the finance industry here and in the region. It is thus our plan to introduce Singapore's top pre-tertiary students to the world of finance and business, and build the Singapore core in the process. By giving pre-tertiary students valuable exposure to the depth and breadth of career opportunities available in the finance industry, we hope to spark their interest and encourage them to regard this sector as a potential career opportunity. UBS collaborates with industry partners, schools and government organizations to further plant the seed of interest, in the hope of cultivating home-grown talent that can stand shoulder-to-shoulder with the best in the world".
Ms. Ong Puay See, Chief Executive Officer of IBF said: “We commend UBS’s commitment in providing pre-tertiary students with insights into the financial services industry via its Youth Academy Program. It is important that our youths, as aspiring practitioners and potential industry leaders of the future, have a good understanding of what a career in finance entails, and be equipped with the right capabilities to drive the growth of the financial sector. IBF is pleased to partner UBS in sharing the IBF Standards as a training roadmap for careers in the financial sector.”
UBS's commitment to nurturing and building the talent pool in Singapore and Asia saw the launch of the UBS Business University, Asia Pacific, located at the historic Command House in Singapore in 2007. This campus provides ongoing training and professional development for employees in Singapore and across the region. The University delivers curricula to employees across the region, as part of its mandate to establish uniformly high standards of advice and service.
About the UBS Youth Finance Academy
The inaugural UBS Singapore Finance Academy program targets pre-tertiary students. The primary aim of this initiative is to increase awareness and develop skills around what it takes to work within the financial industry and for students to regard finance as a potential career opportunity. This program will provide an introduction on how the financial industry works through interactive sessions which will be facilitated by our UBS's subject matter experts. Commencing in June 2015, the UBS Singapore Finance Academy will also focus on building technical knowledge and increasing personal and professional development of interested pre-tertiary students. The program builds on the various education initiatives that have already been launched.
Participating schools and polytechnics for 2015 include Anglo-Chinese Junior College, Anglo-Chinese Independent School, Catholic Junior College, Dunman High School, Hwa Chong Institution, Innova Junior College, Nanyang Junior College, National Junior College, NUS High School of Math & Science, Nanyang Polytechnic, Ngee Ann Polytechnic, Raffles Institution, Republic Polytechnic, St. Andrew's Junior College, Singapore Polytechnic, Temasek Polytechnic, Victoria Junior College and Yishun Junior College.
UBS draws on its 150-year heritage to serve private, institutional and corporate clients worldwide, as well as retail clients in Switzerland. Its business strategy is centered on its pre-eminent global wealth management businesses and its leading universal bank in Switzerland. Together with a client-focused Investment Bank and a strong, well-diversified Global Asset Management business, UBS will expand its premier wealth management franchise and drive further growth across the Group.
UBS is present in all major financial centers worldwide. It has offices in more than 50 countries, with about 35% of its employees working in the Americas, 36% in Switzerland, 17% in the rest of Europe, the Middle East and Africa and 12% in Asia Pacific. UBS employs about 60,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
Institute of Banking and Finance
The Institute of Banking and Finance Singapore (IBF) was established in 1974 as a not-for-profit industry association to foster and develop the professional competencies of the financial sector. IBF represents the interests of close to 200 member financial institutions covering banks, insurance companies, securities brokerages and asset management firms. In partnership with the financial industry and training providers, IBF is now dedicated to empowering practitioners with capabilities to support the growth of the Asian financial industry and to promote the Asian standard of excellence for practitioners in finance.
IBF is currently the national accreditation and certification agency for financial industry competency in Singapore under the IBF Standards (previously the Financial Industry Competency Standards or FICS). The IBF Standards represent a set of competency standards developed by the industry, for the industry. It provides a practice-oriented development roadmap for financial sector practitioners to attain the necessary training to excel in their respective job roles. Covering 13 industry segments spanning more than 50 specialisations, the IBF Standards offers a comprehensive suite of accredited training and assessment programmes to guide a financial sector practitioner from licensing examinations on through to professional certification. Working hand-in-hand with the individual practitioner and the industry, IBF aims to elevate individual competency whilst raising industry standards.