- Expansion
- Asia-Pacific
Programme Latitude · Regional plan
Asia-Pacific: expansion plan
Asia-Pacific runs three locations, three registrations, 22 people and US$61 million of client portfolio from the Singapore hub. It is the fastest growing region in the group by portfolio and the most model-dependent by method, and until 2027 it originates a good deal more than it executes.
The plan
The 2027 phase gives it a trading desk of seven, a model risk laboratory of five, an office in Seoul once the South Korean registration is granted, and a further desk covering aquaculture and marine origination. Hong Kong and Tokyo each add two people in coverage during the same year.
Targets
- Client portfolio in the region raised from US$61 million to US$145 million by the end of 2032.
- Regional headcount raised from 22 to 46, of which 33 are in place by the end of 2027.
- Five offices and desks by 2032, adding Seoul in 2026 and a representative desk in Ho Chi Minh City in 2027.
- Four registrations by 2032, South Korea being granted during the 2027 phase.
- All 34 group models validated by the Singapore laboratory within eighteen months of it opening.
Risks
- Model dependence. More of this book is model-assisted than any other in the group, which is why the laboratory opens in the same year as the trading desk rather than after it.
- Execution concentration. One desk in one time zone covers the Asian session. A written fallback moves execution to Zürich within an hour of a desk outage.
- Timing of registration. The Seoul conversion depends on a registration the group does not control. The desk continues on its present permissions until the registration is granted.
- Cost. Premises and people in Singapore and Hong Kong are the largest single component of the regional cost base, and both are rising faster than the regional portfolio.
Initiatives
- Singapore trading desk (Planned, from 2027)
- Model risk laboratory (Planned, from 2027)