MonFX Pte Ltd, the independent Asia-Pacific (APAC) subsidiary of the Monex Group, is continuing to strengthen its global foreign exchange offering with the appointment of Alvin Lai as Chief Executive Officer (CEO) and Lim Mei Shern as Head of Compliance.
Alvin Lai’s appointment is subject to regulatory approval.
Alvin has over 12 years of experience across APAC and has worked for Bloomberg and most recently as Regional Sales Director for Deutsche Börse Group 360T. His extensive experience in driving revenue, strategic planning and market knowledge will be crucial to the long-term growth strategy of MonFX.
Alvin Lai, the incoming CEO of MonFX said: “I am excited about this opportunity at MonFX during such an important time for the industry. The COVID-19 pandemic has shown the vital role that FinTech must play in supporting businesses through this difficult economic situation. I look forward to working with our amazing team at Monex in our commitment to add value and grow together with the businesses, communities and people in this region.”
MonFX has also appointed Lim Mei Shern, the former Deputy Director of the Monetary Authority of Singapore, as Head of Compliance. Most recently she was Head of Compliance of a digital securities exchange.
Mei Shern, Head of Compliance at MonFX said: “I am really pleased to have joined MonFX together with Alvin at an important juncture in our growth strategy and am excited to help shape the future of the business.”
MonFX was established in 2018 to provide forex and payment solutions to clients in Asia. It is now aiming to expand the team even further and increase product and service offerings in the near-term. This supports Monex’s global expansion, which includes the recent opening of the Luxembourg office, forming part of the wider plan that was put in place in response to the risks posed by Brexit. The Monex forex arm now has entities in North America, mainland Europe and Asia, enabling it to serve clients around the clock in key forex markets.
Nick Edgeley, Non-Executive Director and CEO of Monex Europe added: “We’re delighted to welcome Alvin and Mei Shern to the MonFX team. We’re in an ideal position to strengthen our global presence. By anchoring our expertise in Singapore, we can provide expert advice and support forex trading in the Asian time zone.”