Cayman Islands fund governance firm Calderwood has opened a new office in Asia.
The firm’s Asian presence will focus on the key regional financial centres of Hong Kong and Singapore, with the ability to service clients across the region. Calderwood will provide governance services and independent directors to boards of Cayman Islands funds managed in Asia.
The firm’s Asian practice will be led by Phil Griffiths.
“I am delighted to join the team at Calderwood and spearhead the Firm’s expansion into Asia,” Griffiths said. “The combination of my strong relationships in the Asian investment fund market and Calderwood’s growing reputation provides us with a unique opportunity for growth in this region.”
Before joining Calderwood, Griffiths helped build an international fund services business across Europe, Asia and the Americas, as a founding member and executive chairman of JP Integra Group, where he served as a director of JP Fund Administration (Cayman) Ltd. between 2011 and 2018.
With over 30 years’ experience in regulated markets, he has previously held positions with Exco International/ICAP, Thomson Reuters and Saxo Bank.
Ronan Guilfoyle, co-founder of Calderwood, said the addition of the new office in Asia was another milestone in firm’s growth story.
“We are delighted to bring someone with Phil’s expertise in alternative investments on board as our clients have called for us to add capability in the Asia Pacific region,” he said. “As Hong Kong and Singapore reach greater maturity as hedge fund centres, the desire to implement appropriate corporate governance policies has increased significantly.”
“With increasing complexity in the global regulatory environment for investment funds, we are experiencing high demand for our model of highly experienced directors with capacity and the ability to provide time zone-sensitive guidance in Asia is a significant advantage,” Guilfoyle added.
Since launching in 2016, Calderwood has grown to more than 150 manager relationships. The firm now has a team of six directors, with further expansion set for the coming months, the company said.