Lioner secures MAS approval to expand wealth advisory services in Singapore. Credit: sasint from Pixabay.

Lioner International Consultancy has secured a financial adviser (FA) licence from Monetary Authority of Singapore (MAS) to offer its insurance, trust and family office advisory services to the high-net-worth (HNW) customers in the country.

Andrew Chan, who is serving as a partner at the company’s parent organisation Lioner Group, will head the company’s business development activities in Singapore.

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Chan is expected to look after the sales as well as bolster partnerships with major intermediaries and stakeholders.

In addition, Chan will be responsible to provide HNW clients with access to wealth planning solutions and lead the firm’s expansion strategy across the Asia-Pacific (APAC) region.

Furthermore, Lioner has named Leonard Chu as CEO of its Singapore unit.

Chu, who has around 20 years of experience, will be responsible to offer improved management solutions and help the company grow in Singapore.

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Chu said: “Lioner is known for its pioneering financial advisory services and fast-growing business strategy. I am very excited to join the company and help establish the new operations in Singapore.

“As a financial hub for family offices, Singapore enjoys a stable business environment, supported by a strong rule of law and a deep talent pool for the financial services industry.

“I believe the new Singapore office will complement Lioner’s Hong Kong operations to further propel the growth of the company.”

Lioner, which was launched last year, recorded a growth of its revenues by 63% in the first half of 2022.

In June this year, Lioner announced the establishment of its subsidiary in Singapore in a bid to expand its servicing network in the country.

Through the subsidiary, the company aimed to cater to the HNW clients and enhance its reach in Asia.