We are delighted to announce the opening of our first offshore office, FIIG International Limited, in Malta. This follows substantial domestic growth and demand from clients for direct international bonds, both investment grade and high yield
Europe is an extremely bond friendly market with sophisticated old money. While Australian superannuation funds have one of the lowest allocations to bonds (14%), this is well below the global industry average, with EU countries such as The Netherlands as high as 50%. European investors have a greater understanding of accessing and investing in bonds, and we expect there to be great demand for FIIG originated bonds with increasing corporate issuance.
FIIG founder Jim Stening stated “The European subsidiary will not only allow us to more effectively reach our counterparties based in Europe, the UK and the US, but also provides us with the opportunity to introduce foreign investors to the emerging Australian corporate bond market. We have experienced strong growth servicing our investor market in Australia and a European presence is a natural progression and the initial stage in establishing a global footprint for the Group”.
Senior global financial markets executive Peter Sorensen will be the Chief Executive Officer of FIIG International Limited. Mr Sorensen has over three decades of experience across global financial services businesses.
The beautiful island of Malta is a small independent nation state located in the centre of the Mediterranean in Europe. It is the EU’s smallest member state, but don’t let its size fool you. Here are a few of the reasons we chose Malta:
- Malta allows the FIIG Group to operate its business in all 28 of the EU member nations.
- The time zone brings efficiencies in accessing European and US credit markets.
- The location allows us to present Australian investors with a greater range of fixed income investment options.
- There are strong ties between Australia and Malta with roughly 220,000 Maltese living or working in Australia, a huge number when you consider there are only 650,000 on the island.
- The main spoken and written language is English.
- The small island boasts thousands of years of history, but its legal system is similar to Australia being based partially on English law, allowing us to easily operate within its business and legal environment.
- All major cities can be accessed in two to three hours, allowing efficient and timely business transactions for our clients.
Other familiar institutions located in Malta are CommBank Europe and HSBC - Malta remains an attractive entry point to the EU major markets.
FIIG International Limited will provide services, in accordance with its Investment Services License issued by the Malta Financial Services Authority, to professional clients and eligible counterparties.