Monday's Headlines: Singapore to lead in financial job creation

Singapore will create more jobs in financial services during the next 12 months than any other city, beating London and New York, according to Bloomberg.

A survey of investment bankers from Astbury Marsden, which advises companies in Europe and Asia, showed 37 percent expect Singapore to add the most jobs, 22 precent expect London to create the most jobs, just ahead of Shanghai and Hong Kong, while a mere one percent said New York. Singapore's hedge-fund industry grew to $48 billion at the end of 2009, from about $10 billion in 2005.

Breaking it down even further, the survey also showed 19 percent of respondents expected the most jobs to be created in Shanghai, 17 percent said Hong Kong and four percent nominated the United Arab Emirates.

Other news:

JPMorgan Chase successfully defended clients against hostile takeovers 64 percent of the time - the best among the top advisory banks.[Financial News]

Top executives of publicly traded money management firms reaped an average 33 percent hike in total compensation last year.[Investment News]

The social-networking investing frenzy is creating a profit bonanza for Wall Street, which is expecting to reap the second-highest sum in more than a decade. [WSJ]

Britain's $4.06 billion Business Growth Fund is receiving much praise as a potential jump-start to lending.[Financial Times]

Carlyle is building its first South American buyout fund, for which it is expected to raise $950 million. [Bloomberg]

Top-performing adivsory firms tend to employ fewer staff members, keep a lid on salaries and are more productive.[Investment News]

An analysis of more than 9,400 trades BNY Mellon processed over the past decade could provide ammunition to accusations the bank took advantage of currency trades. [WSJ]

KKR bought capital-markets data provider Ipreo provider for $425 million.[WSJ]

BofA's remaining sale of BlackRock should make it easier for the asset manager to reach its goal of doubling its retail mutual fund business in three years. [Investment News]

ING says downsizing from global player to local bank will leave the group stronger. [WSJ]