A new office in Chengdu and asking for a haircut in Chinese: Nothing is lost in translation with Luis Sanchez

Luis Sanchez

Luis Sanchez, CEO of BMFN discusses China, Chinese lessons and BMFN’s new office in China with FinanceFeeds. Sitting in a restaurant in Chengdu, Sichuan, China, was Andy Duan, V.P of Sales at BMFN in China, some IB’s and myself. We were having dinner which was no less than spice hot pot, accompanied by the famous […]

Luis Sanchez BMFN CEO

Luis Sanchez, CEO of BMFN discusses China, Chinese lessons and BMFN’s new office in China with FinanceFeeds.

Sitting in a restaurant in Chengdu, Sichuan, China, was Andy Duan, V.P of Sales at BMFN in China, some IB’s and myself.

We were having dinner which was no less than spice hot pot, accompanied by the famous Chinese national drink, Baiju. One of the clients asked Andy a question in Chinese and by the way the question was performed and his expression I could guess what was he asking!

I said to Andy: “He wants to know why BMFN choose Chengdu, correct?” Andy, with a bizarre look replied to me “How did you know?” I said, “let me reply to him and please can you translate?”

unnamed (1)
Elegant: BMFN CEO Luis Sanchez in Shijiazhuang

“Why Chengdu?” Well, we chose it for many reasons but mostly because of its economical growth and stability. Chengdu has been the second fastest-growing destination in the world between 2009 to 2015, and as of June 2015 there are 265 Fortune Global 500 companies in this modern metropolis, a number which is growing rapidly.

It is a city of 14 million people. It offers world-renowned Sichuan cuisine at fantastic dining venues and also is very convenient for transportation, as it hosts more then 80 international and direct flights to Europe, America and the Middle East. Chengdu also is home to the famous Panda bear!

This is the 3rd office BMFN will have in China, the first and largest one being our Shanghai facility which was founded on 2009, as an entry-level penetration to the Asian Market.

BMFN-opens-new-office-in-Chengdu-China
BMFN opens new office in Chengdu China

BMFN’s owner and Director, Paul Belogour himself, along with Fan Zheng ( Director China) begun this project themselves. It was not an easy job, especially when considering the different cultures, habits, manners and way business is conducted being so different from any other place in the world, Asia and specially China is a niche and the learning curve takes time and dedication.

The office in Shanghai began with 2 people and now it holds over 45 employees.

Our second office is in Zhengzhou, which was founded in 2013 as a continuation of our growth in the Chinese market. This office helps us to maintain our Chinese clients and to develop that region, and has around 15 employees.

BMFN is today a well-known broker in China; we had earned the, respect, satisfaction, rewards and passion of our clients. Thanks to our unique technology to on board IB’s and partners we have over 5,000 IB collaborating with us. One reason of our success is that we are very closed to them, senior managements visits them constantly and we ear and understand their needs and constantly try to provide them the necessary local solutions.

unnamed
A road less traveled: BMFN CEO Luis Sanchez navigates the length and bredth of China

Part of the rationale behind my explaining all of this is that this is the reason why, as CEO, I will be sitting in Chengdu at least for 4-6 months to help develop this market, bringing my experience in Western environments and  applying it to the local market and with a combination of both, make this region successful.

I don’t speak Chinese however everyday I am making a great effort to the best of my abilities to communicate and literally “survive”.

I can even say that I am becoming a magician here; to be able to by pass everyday living and working, from a simple “I need a haircut” to the complexity of make an appointment with a doctor and explain what exactly the problem is. My Chinese classes have now started and nowadays I can say more words than just Nihao, but I know it will take me a while. Meanwhile as on my previous article, I use WeChat translator, sometimes with excellent and amusing results!

I invite everyone that wants to visit us to come to Chengdu; we will welcome you with open arms, a traditional Chinese tea ceremony and a big smile!

All photography copyright FinanceFeeds

Read this next

Industry News

SEC Chair Gensler pitches for regulation of crypto exchanges; will Ripple benefit?

In what can be perceived to be a big boost for the crypto community, Gary Gensler, the newly appointed chairman of the Securities and Exchange Commission (SEC) has asked the Congress to look into crypto regulation.

Industry News

Baton Systems integrates with LCH for automation of collateral workflow

Baton Systems, a provider of post-trade solutions for financial markets, has announced its integration with LCH, a leading clearing house, for automating the end-to-end collateral workflow for participants in the derivatives markets.

Industry News

CBOE Expands Its European Team with Hiring of Senior VP

CBOE Europe, a pan-European exchange operator and which is a part of CBOE Group based in the US, has expanded its European team with the hiring of Natan Tiefenbrun as its Senior Vice President, Head of European Equities.

Retail FX

London C-level executive market on fire: Tickmill, you’re up

Mukid Chowdhury is now the face of Trading 212. This, however, has left a newly vacant seat. Now, it’s Tickmill’s turn to fight for a Chief Financial Officer. The C-level executive market in London is on fire at the moment.

Industry News

Sapien Capital: FCA fines £170k for allowing Solo Group’s money laundering

The role of Sapien Capital is that it executed purported OTC equity trades to the value of approximately £2.5 billion in Danish equities and £3.8 billion in Belgian equities.

Industry News

MAS invites all fintechs to apply for green tech accelerator

Fintechs should aim to solve at least one of the three key challenges proposed by MAS: (i) Mobilising Capital; (ii) Monitoring Commitment; and (iii) Measuring Impact.

Technology

LSEG tests DCM digitization platform developed with Nivaura

This issuance marks an important milestone in capital markets automation and digitization and demonstrates the potential of such platforms to improve current capital market workflows.

Industry News

Archegos Capital prepares for insolvency proceedings

Archegos Capital, the troubled capital management firm, is preparing for insolvency proceedings as banks that handled its funds are trying to recoup their losses from it.

Inside View

FinanceFeeds announces interview and media opportunities at IFX EXPO

After a tough year for much of the world and the FX industry, Ultimate Fintech has announced the first in-person B2B event of the year – IFX EXPO Dubai.