The online trading platform has hired a senior executive with over 25 years of experience in investment banking, capital markets and retail brokerage at leading international and local firms.
IG Group has appointed John Fei as its chief executive of Greater China, a role in which he will further develop the firm's business in Mainland China, Hong Kong and Taiwan, the company announced on Tuesday.
Fei, who began his career in New York and moved to Hong Kong 19 years ago, was previously CEO of Maybank’s Kim Eng Securities Hong Kong, head of global capital Markets for ICBC International, and managing director of Zhong De Securities, a JV between Deutsche Bank and Shanxi Securities.
Fei will be based in Hong Kong and report to June Felix, CEO, IG Group. He will focus on developing the firm's corporate and distribution partnerships, build IG’s brand recognition in the Greater China region, and strengthening its team on the ground. Fei takes over from Maggie Yeung, IG’s departing head of Greater China, who is joining HSBC in December.
Market Opportunity
IG opened a new office in Hong Kong earlier this year as part of its bid to establish a presence in Greater China, and is in advanced discussions with corporate partners to serve the professional investor market in Hong Kong.
According to the company, there is a £1 billion market in products similar to those IG offers in other parts of the world. In addition, Hong Kong has 500,000 individuals who could qualify as professional investors while Greater China has over 4 million individuals who could qualify for the same category.
