Arki Finance received a Capital Markets Services licence from the Monetary Authority of Singapore, authorising the wealthtech to provide regulated investment advisory and portfolio management services to individual investors in Singapore.
REGULATORY AUTHORISATION AND SCOPE
The licence granted by the Monetary Authority of Singapore allowed Arki to operate as a regulated provider of investment advisory and portfolio management services. The firm planned a public launch later in the year and intended to launch with a cash income offering before adding income and growth portfolios for Singapore's mass affluent market.
A Capital Markets Services licence is the regulatory credential that firms need in Singapore to carry on regulated activities such as fund management.
FOUNDERS AND BOARD
Established in 2024 as Arche Asset Management, Arki was co-founded by David Ng, who has more than 20 years of global asset management experience, including at Bank of America Merrill Lynch and Morgan Stanley and as group chief operating officer of CSOP Asset Management in Singapore.
Arki aims to offer investors another option beyond bank deposits and insurance products.
Former UOB Kay Hian senior executive director Esmond Choo will chair Arki's board, and its advisory board includes former Lion Global Investors chief executive Gerard Lee and Rimmo Jolly, a former Asia Pacific head of iShares at BlackRock.
Sources: Fintech News Singapore
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