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Taking advantage of the flow of capital out of the West and positioned at the centre of fast-growing economies, Singapore emerges as one of the hottest destinations for wealth. Singapore is focused on attracting high net worth individuals with major spending on infrastructure.
Singapore's Duxton Hill has transformed from a red-light district to a high-finance haven.
It's now a squeaky clean city-state of five million people, and is fast emerging as one of the world's hottest destinations for wealth.
Foreigners who have been in Singapore for more than 10 years notice the vast changes.
[Mark Fletcher, Attorney]:
"I was here in '95 and '96, and it had a reputation for being a little bit dull, which it wasn't even then. And if it wasn't then it certainly isn't now. It's a fantastic place. So much new development, the equivalent of the London Eye over there and this sky tower is just fantastic."
Singapore's central bank estimates overall assets under management in the city are up about 40 percent from a year ago.
[Anton Casey, Wealth Manager]:
"I think Singapore has positioned itself very well, in terms of capturing all the flow of assets from out of Switzerland. You've got Zurich, Geneva, Lugano, the major financial centres in Switzerland, and a lot of people are now preferring the Asian story. To try and bring their wealth out and capitalize on all the opportunities out here."
The big players, including Swiss giants UBS AG and Credit Suisse are looking to expand into the Asia-Pacific region in the next few years.
The end of a decades-long ban on casinos about five years ago was a turning point.
[Anton Casey, Wealth Manager]:
"You know I would have never believed that we would have two massive casinos here when I first arrived here 10 years ago. But here we are, we are sitting on the roof of one now. And if you look around the bay you got all the new skyscrapers, all the new banks, wealth management firms all here, so it's really kicked off and the Gran Prix had helped a lot as well."
Singapore is spending billions on infrastructure in its drive to continue attracting the best and brightest.
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