MIG Bank has opened a new subsidiary in Hong Kong, MIG Capital Asia Limited, as part of a multi-phase plan to expand globally.
MIG Capital Asia is aimed at being the lender’s hub to expand in Asia and "improve its services and support for the Asian markets".
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After MIG Capital, based in London, this is the second subsidiary opened by MIG Bank in the last 12 months.
Hong Kong was the logical next step in this global expansion, says MIG Bank CEO, Hisham Mansour, due to the growing interest in Forex in Asia. MIG Capital Asia is licenced and regulated by the Hong Kong Securities and Futures Commission (SFC).
"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," said Mansour.
The new office is headed by MIG Capital Asia CEO, Brian Tsui. "We want to provide better access to our trading solutions in Asia and give more exposure to our market research," Tsui said. "In addition, 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."
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By GlobalDataTsui added, "Demand is growing considerably, and our trading products and services will be tailored to meet our Asian customers’ specific needs as part of our commitment to extending our presence and investment in this strategic growth market," concluded Mr. Tsui. "We’re now poised to build the market, promote the MIG brand and provide our Asian clients with a new level of support that MIG Bank is known for in the global market."
