Many individuals seeking employment in the financial services sector are likely to head to Singapore this year.

The state is expected to witness a boom in finance jobs over the coming months, according to a new study.

Research by Astbury Marsden has indicated Singapore will see employment growth in the sector accelerate and outstrip many other banking centers.

Of those banking and hedge fund workers polled by the company, more than one in three (37 per cent) predicted that Singapore would create the largest number of roles in the industry over the next year, compared with 22 per cent who selected London and 19 per cent opting for Shanghai.

"Cities close to emerging markets are at the forefront of the global expansion in financial services," the firm's chief operating officer remarked.

Recent figures published by Singapore's Ministry of Manpower showed the jurisdiction witnessed a climb of 23,700 in total employment during the first quarter of 2011, with the majority of new jobs established in the services sector.

Posted by Kate Griffin