Australia’s leading fixed income dealer FIIG Securities has appointed experienced financial services executive Mathew Simpson as Head of Middle Markets as the company looks to extend its reach in the sector.
FIIG’s middle markets business provides a range of fixed income solutions to mid-sized wholesale investors including family offices, not for profits (NFPs), government-owned corporations and corporates.
The Australian ‘middle market’ incorporates businesses with annual turnover of $10-$250 million. The segment contributes in excess of $435 billion annually to the Australian economy*.
Mr Simpson joins FIIG from Western Union where he was Head of Dealing with responsibility for the firm’s dealing, key account executive, electronic portfolio management and currency risk solution functions for middle market, corporate and commercial customers.
Prior to Western Union, Mr Simpson worked for the Royal Bank of Scotland, as the Head of Structured Risk and Capital Solutions, APAC-based out of Hong Kong.
Mr Simpson said the middle market was a key contributor to the Australian economy.
“The middle market segment is deep, diverse, and contributes in excess of a third of all Australian business revenue,” he said. “They are typically heavily growth-oriented, resilient, and highly adaptable to change”.
“As a key provider to the segment, and as a middle market alumni member itself, FIIG is uniquely positioned to provide innovative, insight-driven fixed income investment and capital solutions to middle-market Australia.
“FIIG fully appreciates the lack of homogeneity that exists across middle market sub sectors, and thus the need to deliver tailored asset or liability-driven solutions, fit for industry specific nuances.
“Whilst FIIG already enjoys significant market share, we are driven to build an even more compelling product and service proposition for our existing and prospective middle-market customers. Fundamentally, our challenge is to further entrench ourselves as the trusted, consistent confidant and counterparty-of-choice, to our clients and their advisors,” he said.
FIIG Securities CEO Mark Paton said the appointment of Mr Simpson would enhance the executive-level capacity of FIIG to pursue its aggressive growth strategy in the middle markets segment.
“This sector of the market under utilise fixed income as part of their financial and investment management strategies, mainly because they have been under serviced by the industry. Our aim is to fill that gap and Mathew will play and important part in that strategy,” he said.
FIIG Securities Limited, which is licensed by the Australian Securities and Investment Commission (ASIC), is Australia’s largest specialist fixed-income provider. FIIG offers investors access to Australia’s widest range of domestic and international corporate bonds through its ground-breaking DirectBonds service.
FIIG has more than $11 billion in term deposits and corporate bonds under advice in its short-term money market and custody business. The company has offices in Sydney, Melbourne, Brisbane and Perth.
* GE Mid-Market Report, 2014
