Once USA is over with its debt de-leveraging, Merril Lynch, UBS, Citi and others would move their core market making desks to Singapore and make Singapore their regional sales head quarters.
before that can happen, singapore will make to make more investments in these banking institutions.
I hav give thumbs up for the singapore financial system and how it is run compared to the bankrupt fed reserve system of US. Singapore needs to market it to the banks. and encourage them to switch base.
If they dont know how to do it, consult me, i am doing an MBA in banking and finance .