When Lily See graduated from the Singapore Management University (SMU) Masters of Science in Wealth Management (MWM) programme in 2022, she was already a seasoned veteran in private banking. Her experience in the programme at SMU helped to add depth in terms of redefining her approach to leadership, equipping her with the technical expertise and networks needed to thrive in an increasingly complex industry.
Reflecting on her time at SMU, Lily emphasised how the MWM programme deepened her understanding of investment trends and connected her with a diverse network. “The programme gave me the chance to network with peers in the wealth management sector, as well as budding talents who are considering joining it,” she commented.
As the MWM programme participants spanned different age ranges, it brought much valued exposure for Lily to the different perspectives of younger classmates within the classroom, which she saw as being essential for working effectively within today’s evolving and multigenerational workforce.
Lily was also one of the first members of the SMU MWM Mentorship Programme, which connects current students with industry professionals for guidance and career development. Joey Chow, a 2024 graduate of the MWM programme who was mentored by Lily, successfully made the transition from HR into private banking with the latter’s guidance.
“With Lily’s guidance, I’ve learnt to leverage my HR skills, such as empathy and communication, and position them as my unique strengths for excelling in private banking,” said Joey. “She generously shared her insights about the industry with me, including knowledge about certain guiding principles to grow wallet share within a sophisticated client landscape, as well as the advanced investment skills crucial for meeting the needs of sophisticated clients, especially second-generation wealth.”
Presently, as a mentor to MWM graduates and a leader in her team within a private bank, Lily is actively nurturing the next generation of talent. Given her childhood dream of educating and uplifting others in the role of a teacher or lecturer, the mantle of mentorship was fairly intuitive for her.
Asked to sum up her views of the concept of mentorship, Lily said: “The number one lesson in mentoring is that it is a two-way street. I do get to share my experience with those aspiring to join the industry, whilst also learning from their perspectives on today’s challenges. What has worked before may not necessarily work now, and mentoring helps me to continually learn, unlearn and relearn.”
In a field that has become increasingly complex, Lily attributes this philosophy to keeping her agile. Her experiences with mentorship started early in her finance career, where she remembers being encouraged by a senior leader to “believe in yourself” during tough times. “It’s a simple but powerful mantra that still guides me,” she shared.
As she advanced in her career and started leading a team at Bank of Singapore, where she is presently Managing Director, her goal has been to nurture talent whilst blending rigorous industry knowledge with a commitment to client care.
“As a team head, I work with a team of bankers in managing client portfolios. I have a good mix of both senior and junior bankers within my team. My goal is to nurture and enable them to be successful bankers,” said Lily.
On the benefits that mentorship brings, Lily underscored the collaboration and strong bonds between a mentor and mentee that could well forge lasting bonds. As a consultative process between experienced and fresh hires, mentorship served to facilitate the flow of information and perspectives across the different rungs of an organisation or sector.
A skydiving enthusiast, Lily jokingly likens the sport to the thrill of navigating the changing wealth management landscape, which presently involves dealing with stringent regulations, heightened client expectations, and a strong emphasis on portfolio performance.
“Clients are more sophisticated these days compared to 15 years ago,” she shared. “Many have become more focused on portfolio return rather than just relationship banking. By placing significant focus on training and educating bankers, the bank has helped many of our bankers to upskill our knowledge to remain competitive, including myself. The industry is always evolving. In this regard, SMU’s programme is effective in equipping you to think ahead, adapt, and, above all, lead with purpose.”
Photo credit: Lily See