The company is reluctant to reveal details of its plans ahead of filing an application with the Monetary Authority of Singapore. However, it is understood that if it receives approval for a plan once it has been submitted, the office would be headed up by MBMG Group founding partner Graham Macdonald, who would relocate to Singapore from Thailand, and that he would be joined by Martin Carey, a former MBMG employee who has been working in Switzerland for Danske Bank.
Macdonald, a native of Birmingham, was awarded an MBE in the Queen’s 2012 New Year’s honours list. He received the award for “services to British business interests in Thailand”, according to a statement issued by the company at the time.
MBMG first established an operation in Singapore in 2011 with the intention of ultimately expanding its full advisory business there. Thus far, however, it has been limited to handling taxation advisory and consulting services, which do not require regulatory approval.
MBMG incorporated a Mauritius-based asset management operation in 2010, under the auspices of the Mauritius Financial Services Commission.