HONG KONG - March 10, 2020 - CEO, Thomas Mellon, has been at the helm of the recent Asia and Europe expansion, a move poised to widen the reach of the century-old banking institution and which aims to broaden its presence in both Asia and the burgeoning Denmark and Switzerland economies. The proposed acquisitions, along with recent negotiations to acquire several more Hong Kong and Saudi banks, means the prestigious firm will only deepen its financial roots globally, with the long term goal of emerging the biggest Western-based banking institution in the global market, well within reach.
In Hong Kong specifically, as of late February, Astor Capital is conducting negotiations on acquisitions of several banks and Broke Dealer firms. This information came via a "soft" announcement made last week by Thomas Mellon. But it seems as if that spate of acquisitions was only the beginning of expansion. As a pink elephant added to the "equation", when asked if Covid-19 would affect aggressive acquisitions moving forward, Mellon, left all the "investor fears" out of his purview, at least based on his statement.
With Astor Capital Fund in talks to acquire more security firms and banks globally --- Astor executives have expressed interest in acquiring Dah Sing Bank and Get Nice Financial Group, Hong Kong --- it remains unclear how the virus outbreak will impact the deals, if at all. However, Astor Capital, while not the type to operate with a sweaty-palm-pursuit-strategy, it does act frequently from a macro focus, choosing the long-term market approach rather than playing it small.
Mellon could not be reached for comment on the latest acquisition rumors, however, when asked last week about widening its financial footprint in Europe and Asia into 2030 as a larger goal of expansion, he commented, "We always move according to plan. We've been transparent about our decade-long plan for global expansion. It's an active part of our 2020 global growth strategy. I won't comment specifically on the details of any move yet and until at such time in the future I deem it appropriate. I will say this however, "It will happen. We are following through on all plans for expansion and that includes Asia."
Astor Capital Fund is expected to spend in the range of $5 billion on expansion in Hong Kong into 2022.
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