The failure of the ASX/SGX merger and tax rulings on private equity deals, such as that involving Myer, will not stand in the way of Australia becoming a financial services hub for the region, Assistant Treasurer Bill Shorten says.

The failure of the ASX/SGX merger and tax rulings on private equity deals, such as that involving Myer, will not stand in the way of Australia becoming a financial services hub for the region, Assistant Treasurer Bill Shorten says.