Global funds network Calastone has announced the opening of its regional headquarters in Singapore.
Ross Fox, managing director for Asia Pacific, has relocated to Singapore from Sydney to take up the reins having previously been responsible for managing Calastone’s Australia office.
Fox has more than 15 years experience in the asset management industry and joined Calastone in 2012 from GLG Partners. He previously worked at Societe Generale.
“The launch of Calastone’s office as the regional headquarters for Apac reaffirms our commitment to Singapore and the region,” said Fox.
“Apac is an important and strategic growth market for our business. Opening our regional hub in Singapore will help us support the growing demand for digitalisation in Apac’s funds industry, while enhancing our service delivery capabilities to both new and existing clients.”
According to a study from PwC, the fund management industry in Apac is forecast to grow at a faster rate than any other region, with AUM expected to almost double to $29.6trn (£27.2trn, €30.5trn) by 2025 from $15.1trn in 2017.
Calastone, which is headquartered in London, estimates that 70% of fund flows in Singapore are managed by its network already.
