Waystone Strengthens UK ACD Business with Two Senior Appointments
James Bowers has been appointed Chief Executive Officer of Waystone’s UK ACD business, while Allan Seldon has joined as Managing Director, Client Solutions. The appointments bring significant senior leadership and commercial expertise to Waystone’s ACD platform, which oversees more than $126bn in assets under management across more than 225 funds, as the firm continues to build on its position as the UK’s largest independent ACD. James succeeds Karl Midl, who will continue in his role as Waystone Country Head, UK, focusing on the strategic development of Waystone’s UK business. Karl will work closely with James and the wider team as Waystone builds on its strong position in the UK market.
James brings over 30 years of experience in the asset management and fund servicing industries, having held senior product, distribution and governance roles across several leading firms. He joins Waystone from Principal Asset Management, where he served as Managing Director, Head of Global Wealth Platforms. In this role, he was responsible for the strategy, growth and commercial development of Principal’s global funds platform, managing teams in London and Dublin while also serving as a director on UCITS and AIF boards. Prior to this, James spent more than a decade at Janus Henderson Investors, where he held a number of senior leadership positions, including Global Head of Product.
Allan joins Waystone from Tutman Fund Solutions Limited, where he served as Director, Business Development. Bringing over 20 years’ experience in UK financial services, Allan has extensive commercial expertise across the fund services sector. He joined Evelyn Partners Fund Solutions in 2019, which became part of Tutman following its acquisition in 2025. Prior to this, Allan held roles at NatWest Trustee & Depositary Services and Legal & General.
The appointments follow a series of recent senior hires across Waystone’s global business as the firm continues to invest in its leadership and further strengthen its position as one of the leading independent third-party service providers to the global asset management industry.
Karl Midl, Country Head, UK at Waystone said: “Demand for independent ACD services continues to grow as asset managers navigate rising regulatory complexity and increasingly global fund structures. As the UK’s largest independent ACD, we see significant opportunity to build on our position. James and Allan bring the leadership and commercial expertise to support our next phase of growth and help clients launch and scale their fund offerings.”
James Bowers, CEO of Waystone Management UK, commented: “I am delighted to be asked to lead Waystone’s UK ACD business. The UK market’s increasing focus on fund governance is continuing to drive real demand for our quality, independent oversight. I look forward to working with Karl and the wider team to continue building our market-leading platform and supporting our clients.”
Allan Seldon, Managing Director, Client Solutions, Waystone, added: “Waystone has built a highly regarded UK ACD business, and I am excited to join the team at an important time for the industry. As expectations around fund governance and oversight continue to rise, I look forward to helping asset managers and wealth managers access the scale and expertise that Waystone’s global platform provides.”
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About Waystone
Waystone is a leading asset-servicing solutions provider of institutional governance, administration, risk and compliance services to financial institutions. With over 25 years’ experience and a comprehensive range of specialist services to its name, Waystone helps our clients structure, operate and grow through our expertise, innovation and digitisation, backed by the operational scale to support global expansion.