FIIG Securities has announced the appointment of former Western Union executive Mathew Simpson as the firm's new head of middle market.
Mr Simpson was formerly head of dealing with Western Union, where he was responsible for dealing, key account executive and electronic portfolio management.
In his new role, he will provide fixed-income services to middle-market companies – businesses with an annual turnover of between $10 million and $250 million which, Mr Simpson said, are a key contributor to the Australian economy.
“The middle-market segment is deep, diverse, and contributes in excess of a third of all Australian business revenue,” he said.
FIIG Securities chief executive Mark Paton said Mr Simpson’s appointment will “enhance” the company’s executive-level decision-making, and help the business to grow.
“This sector of the market underutilises fixed income as part of their financial and investment management strategies, mainly because they have been under-serviced by the industry. Our aim is to fill that gap and Mathew will play an important part in that strategy,” he said.
Mr Simpson described middle-market businesses as “typically heavily growth-oriented, resilient, and highly adaptable to change”, adding that many require a bespoke approach when it comes to fixed-income investment.
“FIIG fully appreciates the lack of homogeneity that exists across middle-market sub-sectors, and thus the need to deliver tailored asset or liability-driven solutions, fit for industry specific nuances,” he said.