IG Group has appointed John Fei as its new CEO for Greater China, replacing Maggie Yeung, who leaves the spread better after barely 13 months in the regional position. The outgoing CEO, a veteran banker that spent two decades at Citi, is parting ways with IG Group’s Asian operation to join HSBC in December.
John Fei is a senior banker in Hong Kong, having spent more than 25 years working with both Chinese and global brokerage firms. Most recently, he served as CEO of Maybank’s Kim Eng Securities Hong Kong, which offers diversified investment products, including stocks and CFDs products. Its London-based parent, Maybank Kim, offers a full prime brokerage service to hedge funds, family offices, proprietary traders, and asset managers with managed account platforms.
Other stops include Head of Global Capital Markets for ICBC International and Managing Director of Zhong De Securities, a JV between Deutsche Bank and Shanxi Securities.
Fei, who will be based in Hong Kong and report to IG CEO, June Felix, received an undergraduate degree from the State University of New York at Binghamton and a graduate degree from Columbia University.
IG expects to Leverage his expertise as the broker is expanding its market share into other Asian countries amid a shake-up of its business to become a more diversified and global business. In 2020, IG opened a new office in Hong Kong to establish a presence in Greater China, and also expects to onboard local partners to serve the professional investor market in the special administrative region.
“John will focus on growing our Greater China business by continuing to develop further corporate and distribution partnerships which are a critical component to our long-term strategy, build IG’s brand recognition in the Greater China region and further develop a strong local IG team,” said June Felix, CEO of IG Group.
“I’m thrilled to be joining IG, a market leader with proven global capabilities, and look forward to working with our teams and partners to drive growth in the region. The Greater China market, with its large client base and strong investor appetite for leveraged products, presents tremendous opportunities and potential,” added John Fei.
