Finance sector firms in S’pore tapping locals, but need foreign staff to fill gaps in senior and tech roles

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SINGAPORE – The move to increase the minimum salaries of foreigners in the finance sector will put pressure on employers to train more locals to fill the roles.

But in the short term, the acute shortage of workers in specialised and management roles in the sector will continue to drive salaries up further, said companies and experts in the banking and finance sector.

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