The latest entrant into the prime of prime space, Amana Capital, has on-boarded one of the most sought-after executives in South-East Asia. Andy Zhang is joining the company and will serve as Head of China at AmanaPRO.
Zhang joins with a raft of experience in the industry, most recently holding a senior role for the APAC region at Leverate. Before that he worked at IFX Markets, UFX.com and MTrading.
Amana Capital launched its institutional service just last week, as reported exclusively by Finance Magnates. The firm’s commitment to the space comes at a time when competition has been increasing.
The firm is offering a tailor-made MT4 and MT5 product with its new offering.
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Amana Capital has been growing rapidly in recent years, especially after the company announced the acquisition of an FCA license in 2014. The company’s expansion in terms of geography, product offerings and talent acquisition in recent quarters highlights a trend in the industry.
Companies which have been largely successful and have reached a certain scale are aiming to leverage their experience and invest as ESMA regulations kick in. The firms at the core of the industry have been committing high resources to client acquisition since the start of 2018.
As a result we have seen a shift among retail brokers that started last year when the final details of the new ESMA regulations became clear.
Smaller firms have been focusing on acquiring more institutional clients to their books. Meanwhile, firms able to commit to capital expenditures are offering a broader range of products. The latter are also willing to pay higher user acquisition costs for the time being.
Zhang’s hire cements the presence of Amana Capital in China and signifies a strong commitment to regional expansion.