Australian fixed income manager FIIG Securities has launched its first offshore subsidiary, allowing it to establish business operations in all 28 European Union member nations.
FIIG will establish a presence in Malta under the name of FIIG International Limited, according to a statement from the investment manager.
The subsidiary will provide Australian investors with more fixed income investment options as well as greater ease in accessing American credit markets as well as providing services to EU- and US-based “professional clients and eligible counterparties”, the statement said.
FIIG Securities managing director Jim Stening said the expansion was due to domestic demand for international fixed income investments.
“The European subsidiary will not only allow us to more effectively reach our counterparties based in Europe, the UK and the US, but also provides us with the opportunity to introduce foreign investors to the emerging Australian corporate bond market,” he said.
“We have experienced strong growth servicing our investor market in Australia and this European presence is a natural progression of this growth and is the initial stage in establishing a global footprint for the group.”
FIIG International Limited will be headed by investment banking executive Peter Sorensen, who brings more than 30 years of experience in global financial services to the role.
His career has spanned New York, London, Sydney and Europe, and has held senior roles in global investment firms across all major asset classes.
Mr Stening added that Mr Sorensen would bring his experience and contacts within the European market to the FIIG subsidiary.
“We look forward to the opportunities and further growth he and the new subsidiary will bring to our investors, our issuers and to our brand,” he said.
Commenting on his own appointment, Mr Sorensen said Europe held opportunities for the fixed income provider to service its client base by tapping into alternative sources of demand and supply.
“Malta will provide us with a strong base in the European Union with access to experienced staff as well as a stringently regulated operating system,” he said.
FIIG Securities has over $10 billion assets under management.
The corporate watchdog has handed down additional conditions on a Sydney-based AFSL amid concerns about its compliance framework. ...
A new whitepaper has identified derivative-based overlay strategies as the latest growing equity strategy among investors. ...
International equity investors will begin to look towards smaller companies due to strong growth in availability according to one investment...