GFI Group (NYSE: "GFIG") announced today the opening of an office in Manila, the Republic of the Philippines. The new office will focus on brokering of Philippine Government and corporate fixed income products in the domestic market.
The GFI Manila office will be headed by Derrick Aquino. Mr. Aquino, who has been working in the financial markets both locally and internationally for more than a decade, has been with GFI since 2005. He has worked as a fixed income trader both in Manila and in Hong Kong in major financial institutions. At GFI, he has expanded the firm's Asian High Yield Sovereign business and is currently the Managing Director for Philippine Fixed Income.
"We are very pleased to announce our new office in Manila and the start of our brokerage operations in the Philippines headed by Derrick Aquino" said Scott Tatham, GFI Managing Director and Head of Asia. "Derrick's experience and know-how will contribute greatly to the growth of our business in the local market".
Tatham also said "As opportunities arise, we will increase our product offering"
Derrick Aquino, head of the new office added: "The Philippines is an area of great potential for us and a natural step in our growth strategy in Asia. Our presence will allow us to offer our expertise and services to one of the fastest growing markets in the region. I am very bullish on the Philippines. I believe our experience in international markets will offer utmost value to the development and expansion of the Philippine financial markets".
The new office commences operations with a staff of 10 people. The Philippines joins GFI Group's network of offices in Asia which also that includes Japan, Korea, China, Hong Kong and Singapore.