Chris Crowe, Director, Melbourne Capital Group

Founded in 2019 in Kuala Lumpur, Melbourne Capital Group is an award-winning, independent financial services company providing bespoke personal and corporate wealth management solutions. We listen to understand our clients’ circumstances and financial goals, before developing and delivering solutions to meet their unique needs. Over the last five years we have enjoyed continued growth and success. To service our increasing client roster, our head office in Kuala Lumpur has seen our team of Private Wealth Managers more than double since we began. We’ve also expanded internationally with offices in Thailand and licenses in Australia.

What are some of your organisation’s proudest moments/milestones in Malaysia?

Working to take Melbourne Capital Group from being a mere idea to where it is today has, in itself, been very rewarding. That said, it was incredible to be recognised as a bastion of good practice in the recent International Advisor Best Practice awards 2023, where we won Best Adviser Firm, Excellence in Business Strategy and Excellence in Professional Development. We were also the only firm Asia to win awards across multiple categories.

Our recent acquisition of Blueprint Planning, a wealth management company with a twenty-year history in Malaysia, has also been a major milestone. Its acquisition offered us not only the invaluable experience and expertise of its employees, but a Capital Markets Service License (CMSL) enabling us to broaden our offering to Malaysian clients. We are now one of the only firms able to provide Malaysian clients with both international and domestic wealth management solutions.

I’m also very proud of how we’ve embedded a philanthropic outlook into the company. We integrate ESG criteria and risk considerations into our financial strategies as a standard practice and proactively seek investment opportunities that make a difference. We also support various charity and community initiatives. A personal highlight was organising for football legend Paul Gascoigne to do a Q and A with fans, with the event seeing us raise over RM10,000 for underprivileged children and seniors in Kuala Lumpur. We’ve also partnered with the Malaysian British Society, Association of British Women in Malaysia and Royal St. George’s to co-host fundraising events. Our commitment to giving back, has also led us to develop an internship programme and offer financial literacy workshops at international schools in Kuala Lumpur and Bangkok.

Briefly share the reasons for choosing Malaysia.

Kuala Lumpur is fantastic hub, with easy connections domestically and internationally, both within Asia and beyond. The infrastructure, robust legal system and financial framework offer security and ease operations.

We are rewarded daily in our decision to establish ourselves here, as we continue to live and work in a country with a vibrant culture and wonderful people. This in turn continues to be a big selling point in our recruitment process and has helped us attract some incredible global talent.

Describe your operations and total investments in Malaysia (value, staff strength, etc.) to date.

We now have around 50 full time staff based in our head office in Bangsar South, Kuala Lumpur. We see this office as a long-term base for us as we continue to grow.

Based on your overall experience of doing business in Malaysia, name the advantages and challenges of doing business in Malaysia.

The fact most people speak English in Malaysia is an enormous advantage as it helps to streamline everything. Meanwhile, the robust legal system and financial framework makes operations both possible and, importantly, secure. I have also found there to be an international mindset – people here are looking globally for solutions, which, as a company with global client roster, is hugely beneficial.

Of course, as there are advantages there are challenges. Malaysia is not always a forever home, people do move on, which in turn affects talent retention. Malaysia also isn’t viewed on the international stage in the same way as somewhere like Dubai. This means that businesses and individuals alike don’t necessarily think of Malaysia as a place to settle or do business long-term. It’s a preconception we’re actively trying to combat as we know from experience how much Malaysia has to offer.

What did you do or are still doing to overcome these challenges?

We’re always working to put Malaysia on the map. As we recruit internationally, we make a point of selling Malaysia as a great place to live and work. Meanwhile, as we actively seek to grow our presence internationally by expanding our client roster and via partnerships, like the recent memorandum of understanding (MOU) we signed with Scottish university, Herriot Watt, we are proud to claim Kuala Lumpur as our centre of operations. In so doing, we seek to demonstrate our belief in Malaysia as a business hub, more than able to compete with better-known destinations like Singapore.

Based on your experience in operating in Malaysia, what are the 3 most important criteria for achieving business success in Malaysia?

Operating a business is a lot of hard work wherever you are and requires you to be tenacious, patient and retain a positive, can-do attitude.

How has your business evolved during this pandemic, especially in terms of optimisation of human and technology resources?

We founded Melbourne Capital Group just before the pandemic, so for us this meant from the start we were thinking of innovative ways to use technology to connect and do business virtually. It saw us adopting Docusign, which has subsequently streamlined our processes. Meanwhile, as we’ve always used online tools to connect with clients, we’ve enjoyed great client retention. Even if people leave Malaysia, they stay with us knowing there will be little or no change in the quality of service they receive.

How do you see your business growth and prospects in Malaysia now?

The future is looking bright for Melbourne Capital Group as we continue to grow. Our plan is to expand our head office team by another 20 to 30 people by the end of the year.

What recommendation or advice would you give to other companies looking to invest or do in business in Malaysia?

The best advice I can offer is to network. The more people you know the better your chances of success. One of the great things about working in Malaysia is that most people in the business community are more than happy to welcome newcomers and will go out of their way to help connect you with other likeminded individuals, opening the door to new opportunities.

What are the top 3 reasons for your organisation joining the BMCC?

So many of our clients are active members of BMCC, in a way it feels like a natural progression for us to join too. We also share BMCC’s values regarding charity support and community outreach initiatives. Lastly, the many events BMCC hosts offer us the opportunity to engage with new people and further embed ourselves in the business landscape in Malaysia.

What is the top value you see for yourself or your organisation in being a member of the BMCC?

We are one of the only firms that can offer both domestic and international wealth management solutions in Malaysia. This means we’re able to provide very specialist financial advice, which we hope to share with the wider BMCC community.

In one sentence, how would you describe your own experience or your organisation’s experience as a member of the BMCC.

Despite being new, we have had an incredibly positive experience having already attended several events that have all been informative and interesting.