BlackRock Inc. is expecting to add more staff from local hiring and some relocations out of Hong Kong following its expansion in Singapore. The US firm is in talks to double its floorspace at an office block in the city-state’s central business district. The world’s largest asset manager follows other international firms considering building up a presence in Singapore, which is seen as a gateway to Southeast Asia. BlackRock, with almost USD10tr under management globally, has 3 floors at 20 Anson Road and is planning to add 3 more. Around 30 staff will move from another office in Singapore and at least 10 staff are expected to relocate from Hong Kong, which includes a small number from the equities and exchange-traded fund (ETF) business. The company said Asia-Pacific is one of BlackRock’s key growth engines, offering many transformational opportunities.
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