People crossing the street in Singapore. (BT FILE)
Financial institutions in Singapore are expanding their equity research teams as renewed momentum builds in the domestic stock market. The hiring trend follows market reforms introduced by the Singapore Exchange and the Monetary Authority of Singapore, aimed at improving research coverage for smaller listed companies that have historically received limited analyst attention.
Industry players say banks and brokerages are strengthening their research capabilities to capture growing investor interest in small and mid-capitalisation stocks. At Maybank Securities, head of research Thilan Wickramasinghe noted that the firm has increased analyst headcount to deepen sector expertise and expand coverage of emerging companies. Similarly, OCBC is continuing to build its research team after integrating its securities operations into its global markets division, according to Kenneth Lai, the bank’s head of global markets.
Other financial platforms are also increasing analyst roles. iFAST Corporation and its retail platform FSM Global have expanded research positions to support business growth and rising client demand. One key driver has been the Grant for Equity Market Singapore (GEMS) programme, under which MAS committed S$50 million (US$38.9 million) in 2025 to encourage research coverage of under-analysed companies. The strengthening of research capacity coincides with strong market performance, with the Straits Times Index recently surpassing 5,000 points.
Recruitment trends reflect this momentum, with firms such as CLSA and Jefferies advertising analyst positions. Salaries for these roles range from around S$7,000 (US$5,462) to S$20,000 (US$15606) per month.
The expansion of research teams signals growing confidence in Singapore’s equity market and a broader effort to revitalise its capital markets ecosystem. Increased analyst coverage may improve market transparency and attract more institutional and retail investment into under-researched companies, particularly small and mid-cap firms. For listed businesses, stronger research visibility can enhance investor awareness, potentially improving liquidity and access to funding. Financial institutions may also benefit from deeper market insights that support advisory services, trading strategies and asset management activities. At the same time, the demand for analytical talent highlights evolving skill requirements in the financial sector, with firms increasingly valuing expertise in accounting, data analytics and technology as automation and artificial intelligence tools become more widely integrated into research workflows.
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