An organisation seeking to boost development of local talent in Singapore’s banking industry, Temaswiss Wealth.

A "premier banking enablement" organisation seeking to boost development of local talent in Singapore’s banking industry, Temaswiss Wealth, has been launched today.

The organisation’s chief executive is Dr Ranjan Chakravarty, recently the chief risk officer of the Singapore Mercantile Exchange, a statement issued yesterday said.

Temaswiss develops training programmes to develop training of bankers, initially concentrating on aspiring private relationship bankers and private banking support positions. The organisation will “offer a flagship proprietary programme for bankers’ Continuous Development Requirements (CPD)”, it said.

Asked where the name, with its "Swiss" tag came from, a spokesperson said it was a mix of Temasek ('Sea Town' in Old Javanese, pronounced Tumasik), which was the name of an early city on the site of modern Singapore. The “Swiss” component to the name has two aspects. It is reflective both of the organisation's focus upon wealth management and private banking domain expertise, for which Switzerland is renowned, and the fact that the organisation’s co-founder and COO, Suvendu Ganguli, is a Swiss-national veteran banker who was trained in and worked for a major part of his career in his home country.

The statement said the timeliness of the organisation’s launch has been praised by senior bank figures in the city-state. The need to develop local Singapore banking talent was recently highlighted by the deputy prime minster and chairman of the Monetary Authority of Singapore, Tharman Shanmugaratnam.