CFH Systems is continuing its push into the Asian market, officially unveiling its plans for a new location in Singapore. Former AxiTrader General Manager Alex Mackinnon will be leading the effort.
The addition of a third location in Asia can be seen as a further commitment to the region’s vast untapped potential in expanding financial services. Singapore is a key location and one of the fastest growing financial centers in the world in recent decades. A large number of high net worth individuals residing in the country makes for a lucrative destination.
CFH Systems’ expansion effort in Asia will not end in Singapore, the company’s plans also include the addition of new staff in Hong Kong and Tokyo and will be actively hiring in the region in the coming months.
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CFH Systems is appointing Alex Mackinnon as Head of Asia. His responsibilities will include overseeing the company’s Tokyo and Hong Kong business. CFH Systems Singapore is set to open in the late summer of 2018, as Mr MacKinnon joins the firm from the start of January 2018.
Commenting on the news, the Chairman of CFH Group, Christian Frahm, said: “Asia is such a key market for us with huge growth potential. We needed to find someone with the right experience and expertise to drive the business forward in the region and help us to maximize opportunities.”
“Alex is the ideal candidate, with over 20 years’ experience in liquidity management, risk management and compliance and a proven track record in business development and forging strong client relationships. We are very excited that such a highly respected industry expert will be joining the team to play such a key role in our global expansion plans,” Frahm elaborates.
Before joining CFH and AxiTrader, Alex Mackinnon was Head of FX Prime Services at INTL FCStone (Europe) and Head of Trading at ODL Securities.
Commenting on his appointment, he said: “Since the Playtech acquisition, CFH has one of the largest balance sheets in the industry. It’s an ambitious organization with significant investment in its technology and infrastructure. I am looking forward to joining the organization at a time when there’s such huge potential for further growth.”