SINGAPORE: China's Tiger Brokers is ramping up hiring in Singapore to expand its internet stock trading clout in Southeast Asia.
The Nasdaq-listed discount brokerage announced the hiring plan this week, amid a crackdown on the technology sector in its home market.
Tiger aspires to tap into new markets in the region, where most of the young population is attracted to investing in financial markets. The platform is aiming for a 10% to 20% jump in its current headcount by next year, eyeing Thailand, Malaysia, Indonesia, and Vietnam for the expansion.
"A lot of all these Southeast Asian countries are still at the growing stage, and the middle-class investors and middle-class citizens there .. [are] growing," Tiger's Singapore CEO, Eng Thiam Choon, said.
Tiger set up its Southeast Asian hub in Singapore in 2019 and launched its mobile trading app last year.