8 Dec 2017
Nanyang Technological University, Singapore (NTU Singapore) will be receiving an $11.9m boost to develop Singapore’s wealth management expertise.
Called the Temasek Wealth Management Endowment, it will seek to enhance Singapore’s finance and wealth management industries through talent development, thought leadership, industry insight, and knowledge sharing through mentorship and community building via a trusted network.
The gift was presented by Mr Robin Hu, Head, Sustainability & Stewardship Group, Temasek, to NTU President Professor Bertil Andersson during the official opening of the new premises of NTU’s WMI at one-north, which was graced by Finance Minister Heng Swee Keat. WMI was established as a new institute under NTU in July 2017 and will boost NTU’s efforts to become a leading authority in wealth management research and education in Asia.
Commenting on the new endowment, Mr Robin Hu said, “Through the Temasek Wealth Management Endowment, WMI will have another resource to help strengthen its research and industry-oriented curriculum development capabilities by engaging leading practitioners and thought leaders from around the world.”
Endowment fund to bolster NTU’s wealth and asset management expertise
To strengthen its role as a leading centre of excellence in Asia for wealth management education, NTU will use the endowment fund to launch new initiatives, including the setting up of several professorships, a lecture series featuring prominent industry thought leaders, and a new fellowship.
The Temasek-WMI Professorship is set up with the aim of advancing knowledge creation and discovery in wealth and asset management. It will provide direct intellectual leadership in these two areas, and also collaborate with leading scholars of various fields to develop intellectual leadership and capacity-building in wealth and asset management.
The Temasek Visiting Professorship in Wealth, Asset and Risk Management will attract leading international scholars and experts to add to NTU's research and academic capabilities. Faculty and students will also have the opportunity to interact with them and enhance their knowledge, skills and overall learning experience.
Another initiative is the Temasek Fellowship. It will provide fellowship for established and emerging leaders in their respective fields who offer a significant voice on global wealth management landscape. The ultimate aim is to have our fellows forge viable partnerships to spearhead leading wealth management practices, thus allowing them to have a real impact on global financial scene.
NTU will also introduce the Temasek Distinguished Lecture Series. The event will bring together global thought leaders from diverse backgrounds to share their views on major issues and trends shaping markets and investments in the world today and in the future. The series will also afford rare access to individuals whose ideas and actions shape market trends and investments.
As the Private Banking Lead Training Provider, WMI will lead the exercise to re-define wealth advisors' skills and competencies for the future. Working in close collaboration with the private banking industry and Institute of Banking and Finance, the NTU institute will also design and develop systematic skills upgrading and certification programmes to help wealth managers to be future ready.
Prof Andersson said, "NTU has always believed that the research and learning it does must benefit society and Singapore's future. With WMI now a part of NTU's family, and along with the generous support of Temasek, the university can further enhance and expand its wide range of expertise and capabilities. The wealth and asset management industry will continue to be crucial to Singapore's growth, and WMI will provide training that will help ensure that industry professionals here are equipped with the right skills and knowledge to adapt to and meet the challenges of an unpredictable global economy."
WMI was set up in 2003 with the support of Temasek and GIC, to catalyse Singapore's role as the Asian hub for wealth management. To date, WMI has conducted well over 400,000 hours of wealth management training for industry professionals, and trained more than 14,500 professionals from over 100 financial institutions across 23 countries.
The institute has also fostered strong links with industry thought leaders, senior practitioners and financial regulators across Asia and beyond.