This is a celebratory, interviewer-led StoneX piece about the buildout of its Asia business over the past 20 years, centered on Singapore as the regional hub and on the firm’s growth through acquisitions, local licensing, and internal cross-selling. The main message is that StoneX went from a small Asia footprint serving gold bullion and payments/correspondent banking to a much broader, locally regulated platform with clearing, execution, prime services, fixed income, precious metals, and other desks working together.
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This transcript is a commemorative interview rather than a market call. The host frames it as StoneX’s 20th anniversary in Asia and speaks with Greg Kilenikos, described as chief executive officer for StoneX APAC/Asia Pacific. The discussion starts with the original rationale for entering Asia in 2006: Malcolm Wild chose Singapore as the regional headquarters because it was becoming a major trading hub, and the business initially revolved around two lines — a gold bullion business and correspondent banking/payments coverage. The speaker emphasizes that the early setup was small and centrally controlled from London and New York, but it created the basis for broader regional expansion. A major theme is that StoneX’s step-change in Asia came from gaining local structure and regulation, not just opening offices. …
No immediate market setup is offered; the only actionable read is that StoneX is reinforcing a positive Asia growth narrative and corporate momentum.
The base case is continued Asia expansion through local licenses, product breadth, and cross-selling, with Singapore remaining a core platform. That view holds if the company keeps adding offices, talent, and local bookings without losing its collaborative edge.
Structurally, the transcript argues that Asia is becoming the main long-run growth engine for StoneX and potentially a dominant source of revenue. The durable thesis is that localized regulation plus an integrated multi-product model can compound faster than a siloed regional footprint.
StoneX is celebrating the 20th anniversary of its Asian business and sees it as a milestone worth highlighting internally.
The host frames the interview as a celebration of 20 years in Asia.
Singapore was chosen in 2006 as the regional headquarters because it was becoming a major trading hub.
This is presented as the original reason for setting up Asia headquarters there.
The UOB bullion and futures acquisition was the key transaction that gave StoneX scale, permissions, staff, and customers in Singapore.
The speaker says it provided the platform that housed other products and services.
What was the original history of StoneX's Asian business starting in 2006?
Greg explains that in 2006, the historic Asia CEO Malcolm Wild made the decision to set up the regional headquarters in Singapore, moving himself and his family there. At the time, the business consisted of a gold bullion operation (precursor to the well-established international bullion business) and correspondent banking coverage that supported a payments business. These were the two initial aspects of the Asian presence, which later grew organically into something more exciting.
What do you think was the key moment for the Asia region?
Greg draws a parallel to the London business, where the acquisition of the metal stake from the administrators of One Earth Global in 2011, along with the LME membership, put the main operating entity on the map. For Asia, the equivalent key moment was when StoneX acquired UOB Bullion and Futures assets despite intense competition — one of the oldest, most well-established futures and options businesses in Singapore, dating back to the 1970s. This gave StoneX not only regulatory permissions but also the support-platform scale to house all other products and services, starting with the traditional FCM business of clearing and execution services.
When you went out there in 2018, would you have thought you would have had so much available and successfully implemented as we do today?
Greg says he was taking each day as it came, but acknowledges it was a big decision to move with his family from Europe. He had comfort from his long working relationship with the interviewer, and he set out to convince international product heads to take a chance and build teams in Asia. The group invested alongside the desks, and they successfully engaged with every single international desk. Now all four segments of StoneX have a presence in Asia, which has been at the core of their success.
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