MultiBank Further Expands Presence in Asia through New Headquarters in Hong Kong
2018-4-16 | Blog
17th April 2018, Hong Kong–
MultiBank Group has chosen Hong Kong to be the site of its new Asia Pacific headquarters, thus expanding its presence in the world’s largest forex and financial derivatives market. The new office opened in April 2018 and operates under the company name MEX Fintech Limited, being a financial technology company that offers financial information services to the Group. MEX Fintech Limited is expected to hire over 120 staff locally to cater to the increased demands of the customers of MultiBank Group, allowing it to maintain its position as one of the leading providers of financial products, brokerage services, and advanced trading technologies worldwide.
Furthermore, in mainland China where MultiBank has been in operations since 2005, it has also expanded its presence and relocated to more modern and larger offices in order to better position itself for future expansion and to capture a larger market share in Greater China. In China, the Group maintains offices in Beijing, Tianjin, Hangzhou, Shenzhen and during May 2018, is excepted to open a branch in Guangzhou.
The Board of Directors of MultiBank Group was present to celebrate the opening of both new offices in China and in Hong Kong.
Over the past year, MultiBank has also expanded its business and services in Europe by obtaining a BaFin license from the German Federal Financial Supervisory Authority which resulted in the opening of its European headquarters in Frankfurt, Germany, and during May 2018, will open a further branch office in Barcelona, Spain. Moreover, the Group has opened new entities to provide services in both wealth management and asset management around the globe by obtaining CIMA license from the Cayman Island Monetary Authority.
MEX Fintech Limited is now recruiting rapidly in Hong Kong in hopes of kicking off its international financial derivatives and global asset management business within Q2 of 2018, and the office has already seen the addition of a number of experienced financial professionals with extensive expertise in the financial derivatives industry. Among them are industry veterans with a combined experience of over 100 years.
In relation to MEX Fintech Limited expansion, MultiBank Group’s Director of Public Relations, Ms. Sophia Barnes, has made the following statement “MultiBank Group has been in the online financial derivatives industry for more than a decade now, and has been spearheading change in the industry ever since. The Group has also issued its audited 2017 accounts showing a paid-up capital of over US$138 million, retained earnings of over US$ 201 million and net earnings for 2017 of circa US$ 28 million. The Board of Directors has discussed in recent years to expand the Group’s business to include both asset management and wealth management services, as we have seen a large hike in demand from our high net worth clients. We look forward to operating these businesses from our headquarters here in Hong Kong, and we are very cognizant of the SFC rules and thus the Group will not be dealing with or offer products to the Hong Kong public, but rather focus on our existing global clientele from over 90 countries around the world. We’re very excited about the future of Group.”
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