Switzerland’s MIG Bank has opened a new brokerage subsidiary in Hong Kong, MIG Capital Asia Limited. The office will be MIG Bank’s hub as it seeks to expand in Asia and improve its broking, foreign exchange (FX) and other services for the Asian financial markets. After London-based MIG Capital, this is the second subsidiary opened by the bank in the past 12 months, as part of a multi-phase plan to expand globally.
Hong Kong was the logical next step in this global expansion, said MIG Bank chief executive officer (CEO), Hisham Mansour, due to the growing interest in foreign exchange (FX) in Asia. MIG Capital Asia is licenced and regulated by the Hong Kong Securities and Futures Commission (SFC).
“MIG Bank has significantly expanded its sales, marketing and technical team globally,” said Mansour. “This is part of a strategic development plan that will allow us to further improve the scope and quality of our services to our rapidly growing network of customers and partners in Asia. The new office will play a key role in our expansion plans for Asia, strengthening our presence there and increasing our market share in the region.”
The Hong Kong office is located in the Citibank tower in the Central District, which serves as the heart of Hong Kong’s trade and financial activities. The office is headed by MIG Capital Asia CEO, Brian Tsui, a recognised financial services professional in the industry who has enjoyed more than a decade of successful management tenures in financial brokerage firms in Hong Kong. He holds a Master’s degree in financial management from the prestigious University of London and a Bachelor of Science in mathematics from the University of British Columbia.
Tsui said that MIG Capital Asia seeks potential relationships with key financial institutions and brokerage houses to explore business development partnership opportunities. “The opening of this new office underscores our commitment to growing our business and competing in Asia through direct communication, close proximity, technical support and enhanced training programmes.”