Swiss-headquartered MIG Bank is opening a new subsidiary in Hong Kong, called MIG Capital Asia Limited, the firm announced yesterday.

The office will be MIG Bank’s hub to expand in Asia and improve its services and support for the Asian markets. After MIG Capital, based in London, this is the second subsidiary opened by MIG Bank in the last 12 months, as part of a multi-phase plan to expand globally. 

MIG Bank, which focuses on providing clients with foreign exchange trading and other related products and services, said Hong Kong was the “logical next step in this global expansion”.

Interest in such foreign exchange management in Asia is growing, said MIG Bank chief executive Hisham Mansour.

MIG Capital Asia is licenced and regulated by the Hong Kong Securities and Futures Commission.

“MIG Bank has significantly expanded its sales, marketing and technical team globally,” said Mansour in a statement.

“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 new office is located in the Citibank Tower in the Central District. The office is headed by MIG Capital Asia CEO, Brian Tsui.

Tsui has enjoyed more than a decade of successful management tenures in financial brokerage firms in Hong Kong.

"We want to provide better access to our trading solutions in Asia and give more exposure to our market research," Tsui said.

“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,” Tsui added.