Strategy
South Africa's MitonOptimal Gets Singapore Green Light
The licence gives the firm clearance to offer discretionary fund management and other investment services out of the Asian city-state.
MitonOptimal Asia, part of the South Africa-based MitonOptimal group of
companies, has secured a full capital markets licence services in
Singapore.
The Monetary Authority of Singapore granted the licence, paving
the way for MitonOptimal to deliver discretionary portfolio and
investment management services to accredited investors, advisors,
trust companies and other institutional clients.
Until now, the firm had only been able to run a representative
office in Singapore, it said in a statement.
The firm also appointed Eric Mellor, head of portfolio management
for MitonOptimal Asia, having previously worked at Swiss wealth
platform provider Avaloq, where he served as the Asia-Pacific
partnership director for the previous four years. Previous roles
include those of head of investments for a local broker,
International Financial Services, and a stint at HSBC Global
Asset Management. He has lived in Singapore for 10
years.
A number of financial institutions have won Singaporean licences
in recent weeks and months, such as Pictet (see here) and
Singapore Life.
