South Africa's MitonOptimal Gets Singapore Green Light

Tom Burroughes

29 March 2018

MitonOptimal Asia, part of the South Africa-based 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.