Singapore, 10 June 2016 – Around 50 students from 20 pre-tertiary institutions graduated from the second UBS Youth Finance Academy yesterday, following a comprehensive three-day program introducing the students to the world of business and finance through work-relevant training, industry insights, networking opportunities and interactive sessions facilitated by UBS's experts.
This year, UBS also partnered with GIC to bring the GIC learning journey experience to the students, as well as the Institute of Banking & Finance (IBF) and Bloomberg to provide a good overview of the wide spectrum of roles and functions in the financial world.
The first UBS Youth Finance Academy was held in June 2015 to celebrate the 50th anniversary of UBS in Asia and the 50th anniversary of Singapore. The Academy aims to inspire, increase awareness and deepen understanding about banking and finance careers. It seeks to define what it takes to work in the industry, whether in the front, middle or back offices.
Singapore's financial sector forms approximately 12.6 percent of Singapore's GDP, with over 1,200 financial institutions operating in Singapore and employing over 200,000 people1. 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.
Mr. Gan Seow Ann, Divisional Vice Chairman, UBS Wealth Management, gave the welcome remarks to the students at the graduation ceremony held at UBS offices yesterday. He said: "Singapore is a significant global financial center. We think it is important for the finance industry to take the lead in nurturing more young Singaporean bankers for the industry here and in the region. It is thus our plan to introduce interested pre-tertiary students to the world of finance and business, and build the Singapore core in the process. By giving the students valuable exposure to the depth and breadth of career opportunities in the finance industry, we hope to spark their interest and encourage them to regard this sector as a potential career opportunity, with the hope of developing a pipeline of future bankers who can compete with the best globally."
Also present at the graduation ceremony were Ms Ong Puay See, Chief Executive Officer of The Institute of Banking & Finance Singapore, Ms Ong said “A strong grounded understanding of the workings of the financial sector will aid our youth in making better career decisions and better plan for their future progression. IBF is therefore pleased to partner the UBS Youth Finance Academy in reaching out to these young talents and helping to foster a better appreciation of the job-roles and skillsets required to support the financial sector.”
The program was well-received by the students with many positive feedback. Titus Goh, a student from Republic Polytechnic, commented "I had a fun-filled 3 days gaining knowledge about the various departments and functions in UBS, and made many good friends along the way!" Sabrina Ng from Catholic Junior College remarked, "Thank you UBS for giving students like us the opportunity to find out more about the field of banking and finance. It has been a great learning experience and I enjoyed myself thoroughly." This year, we also welcomed students from ITE. Divagaran S/O Kalaivanan, ITE College East, said "The UBS Youth Finance Academy was an enriching experience and a great opportunity to find out more about the banking and finance industry."
The Business University, which was launched in Asia Pacific in 2007, is located at the historic Command House in Singapore. It provides ongoing training to UBS employees across the region in an effort to establish uniformly high standards of advice and service.
About the UBS Youth Finance Academy
The UBS Youth 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. Launched 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 for 2016 include Anglo-Chinese Junior College, Anglo-Chinese Independent School, Catholic Junior College, Dunman High School, Hwa Chong Institution, Innova Junior College, ITE College Central, ITE College East, 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, St Joseph's Institution International School, Singapore Polytechnic, Temasek Polytechnic and Victoria Junior College.
UBS AG
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.
Media contacts
Corporate Communications
Julie Yeo julie.yeo@ubs.com +65 6495 5332
Michelle Per michelle.per@ubs.com +65 6495 2295