Regulatory pressures creating demand for Fenergo solutions in Australia, Hong Kong and Singapore
Fenergo, the leading provider of Regulatory Onboarding, Entity Data and Client Lifecycle Management solutions for investment banks and capital market firms announced its expansion into Asia Pacific, with the creation of a local team based out of Sydney, Australia. The announcement was made during the Enterprise Ireland Trade and Investment mission to Australia led by Minister for Jobs, Enterprise and Innovation Richard Bruton TD.
The company has appointed Brett Hodge as Head of Sales for the region. Hodge brings extensive experience to the role having worked with Avox in the capacity of Manager of Asia for the last seven years and Regional Director of Algorithmics for nine years previous.
Speaking from Sydney Minister Bruton said: “ICT is a key sector which we have targeted as part of our Action Plan for Jobs. One of our key aims is to support more Irish companies to export – particularly to high growth markets. Today’s announcement by Fenergo that it is expanding into the Asia Pacific region and placing senior staff members in the market is very welcome. Fenergo is a highly innovative Irish company and this is a strong sign of its commitment to growing its export sales in the region. I wish them every success and look forward to working with them in the future”.
Commenting on the announcement, Marc Murphy, CEO of Fenergo, said, “We are thrilled to announce the expansion of Fenergo’s global footprint to Asia Pacific and I am particularly delighted to announce the appointment of Brett Hodge, who will head up our APAC operations and sales activities. Brett’s extensive local market knowledge will help to accelerate our expansion plans for the region, enabling us to deliver a superior local service based on global experience and world-class software solutions.
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“We are already seeing a lot of demand coming from the APAC region, driven in large part by enhanced and new regulatory frameworks being introduced by the Australian Securities and Investments Commission (ASIC), Hong Kong Monetary Authority (HKMA) and the Monetary Authority of Singapore (MAS). With the ability to manage the compliance and client and counterparty data and document obligations for multiple regulations simultaneously on a single platform, Fenergo’s regulatory onboarding and client lifecycle management solutions can help financial institutions across Asia Pacific to comply fully with regulatory requirements with the help of a centralized source of golden data and onboard institutional clients quickly and efficiently”.
The Sydney Team represents Fenergo’s third international expansion this year, having opened offices in Boston and New York in January.