Citi’s top risk guy in Singapore just joined HSBC
If you thought a Managing Director (MD) self-describing as a “#proudcitibanker” and a “blueblood” in honor of the company colors would stick around forever, you might be mistaken. Because they leave too, apparently.
Manu Shinghal is the MD that left. He joined HSBC earlier this month in Singapore as an MD with the wealth and personal banking risk team, leaving Citi (hence the hashtag above) in his wake.
Over a very active 18 years with Citi, Shinghal served as the risk management country officer for the bank’s presence in three different counties – the Philippines (where he spent five years as a director), Malaysia (where he spent three years as an MD), and Singapore itself (where he spent eight as an SVP and MD). He even spent a year and a bit in Australia, although only as a VP.
The reason Shinghal has left isn’t clear yet, but he might have been better off moving to Hong Kong. Mid-career bankers might be better off in Singapore, but the big money is in Hong Kong. There’s also big salary increases on the table – over 30% salary bumps – for professionals that move into the city for a job, we’ve found.
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