Funds network Calastone has expanded its presence in the Asia Pacific market with the opening of an office in Singapore. The office, which will serve as the company’s regional headquarters, will be led by Ross Fox, managing director for Apac. Fox will relocate from Sydney, where he was previously in charge of Calastone’s Australian business. “The launch of Calastone’s office as the regional headquarters for APAC reaffirms our commitment to Singapore and the region,” said Fox. “Opening our regional hub in Singapore will help us support the growing demand for digitalisation in APAC’s funds industry.” Assets under management are projected to reach $41 trillion by 2025, but this is expected to lead to higher operating costs, with margins shrinking from 31.6% to 28.5% by 2025, according to Calastone. © 2022 funds global asia