Only 1 in 5 firms has technologists in leadership roles.
When it comes to tapping the people with the know-how on technology, Singapore wins the game against its rival Hong Kong, a research from Calastone revealed.
In a survey that interviewed firms from both Singapore Exchange and Hong Kong’s Hang Seng Index, it was revealed that whilst 44.6% of listed companies examined in Singapore had a technologist in a leadership position in 2016, Hong Kong lagged significantly with just 20.3%.
However, both markets have seen steady increases in the number of companies with technologists in leadership positions – Singapore saw an increase from 17.9% in 2011 and Hong Kong from 6.3%.
The banking sector leads the way in Singapore, whilst accounting has 12% of technologists in a leadership position, followed by real estate management and development, food and staples retailing and aerospace and defense.
Meanwhile, the information technology sector dominates in Hong Kong, accounting for over 46% of technologists in a leadership position, followed by financials and consumer goods.
Calastone managing director and head of Asia Leo Chen said the research demonstrates the need for a cultural shift in Asia to ensure technology is firmly part of the long-term strategic agenda.
"Calastone believes that an increased level of technological expertise and understanding of emerging and disruptive technologies is vital for the development and sustainability of the financial and funds industry," he noted.
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