MonFX Expands Operations with New Singapore Office, Hires Head of Sales

<p>To accommodate
expansion plans in the Asia-Pacific region, MonFX, a local subsidiary of global
financial services company Monex Europe Holdings, has moved into a larger office
space in Singapore. In addition,
the company has appointed David Venn as the Head of Sales to lead the expansion.</p><p>MonFX Expands Asia Pacific
Presence with New Singapore Office</p><p>At a
ribbon-cutting ceremony on 18 January, the CEO of MonFX, Alvin Lai, announced the
company will be increasing its sales team headcount 80% in 2024 to boost
operations and serve its growing client base across Asia-Pacific.</p><p>"Singapore
is a key global <a href="https://www.financemagnates.com/terms/h/hub/">hub</a> for our clients, with world-class infrastructure and
business-friendly policies," said Lai. "As we continue serving
existing clients and expanding our clientele among institutional and corporate
entities, the new office will allow us to scale up, attract talent, and elevate
service standards."</p><p>This year,
MonFX aims to increase profitability 200% by leveraging its expertise in
derivatives, hedging strategies, and digital solutions. The company also has
plans to boost growth by entering neighboring Asia-Pacific markets.</p><p>The office opening in Singapore came <a href="https://www.financemagnates.com/institutional-forex/monfx-gains-cms-license-from-singapore-regulator/" target="_blank" rel="follow">more than two years after</a> the company obtained
licenses to operate in the local payment market. The Monetary Authority of
Singapore granted the Capital Market Services authorization three years after
MonFX began its operations in the country.</p><p>The
ribbon-cutting event was attended by Tom Farrow, the Group Director of Trading at
<a href="https://www.financemagnates.com/tag/monex/" target="_blank" rel="follow">Monex Europe</a>, Mexico's Ambassador to Singapore Agustin García-López Loaeza, and
Gerson Garduño, the CEO of the Singapore Mexico Chamber of Commerce.</p><p>New Head of Sales</p><p>In addition
to the opening of the new office, MonFX has appointed David Venn as the Head of
Sales. With over 10 years of experience building institutional and corporate
client bases, Venn will oversee driving business growth in the region.</p><p>“Our
clients are turning to us and our products and services frequently to help them
meet their FX risk management needs,” Venn commented. “I am honored to lead the
Singapore Sales team as we work towards expanding our institutional and large
corporate client base in the Asia Pacific and continue driving business
growth.” </p><p>The
Monetary Authority of Singapore licenses MonFX Pte. Ltd. as a Major Payment
Institution and holds a Capital Markets Services license. The company
provides foreign exchange and payment solutions to clients across Asia.</p>

This article was written by Damian Chmiel at www.financemagnates.com.