Waystone welcomes T. Bailey Fund Services and strengthens its UK fund offering

      Waystone is delighted to announce the closing of its transaction with T. Bailey Holdings Limited to acquire T. Bailey Fund Services Limited (TBFS), strengthening its presence in the UK Authorised Corporate Director (ACD) and fund administration market.

      The recent high demand for UK domestic products has driven the UK funds industry to promote growth and opportunity to firms that offer both substance and rigorous controls following significant upheaval resulting from Brexit and the demands from a continually evolving UK funds landscape.

      Nottingham-based TBFS, is an independent, fully-hosted ACD and fund administration service provider with more than 15 years’ experience in running and administering funds. By coming together with TBFS, Waystone continues to grow its ACD capabilities in the UK with the addition of a well-regarded, comprehensive and premium service provider to meet the needs of its clients alongside growing market demand.

      As part of Waystone, the TBFS team will focus on the continuity of its existing premium offering, whilst also being able to service its delegated fund managers with a wider pool of resources and expertise. Waystone’s wealth of knowledge and resources will provide TBFS with enhanced compliance systems and resources to further support its oversight of current and emerging regulatory issues and developments, with its delegated fund managers gaining access to a multi-jurisdictional offering and an institutional-quality fund services provider.

      Together, Waystone and TBFS will have ACD-related assets under oversight in excess of £10bn.

      Jessica Kirk, CEO of TBFS commented, “The agreement with Waystone provides TBFS with a solid foundation for future growth. TBFS operates in a rapidly-changing industry and maintaining a service that remains both relevant and high quality is key. Experienced personnel, compliance and operations are critical to ensuring our service proposition continually evolves with the needs of the market. TBFS and Waystone have a great deal in common in terms of vision and culture. Our clients will continue to be serviced from our Nottingham office and the TBFS management team are excited to join the Waystone UK Senior Management team. We look forward to working together to provide the UK funds industry with a high-quality and personal service proposition.”

      Rachel Wheeler, CEO Global Management Company Solutions, added, “The addition of TBFS means we are able to offer our clients a premium, fully serviced ACD offering built on robust foundations, allowing us to meet the growing demand from the UK funds industry looking to launch domestic products. This combination demonstrates our commitment to the UK market and the importance we see for it in the global fund industry. The combined personnel will exceed 70 employees working together to support an exceptional and growing client base.”

      About Waystone:

      Waystone is a leading provider of institutional governance, risk and compliance services to the asset management industry. Partnering with institutional investors, investment funds and asset managers Waystone builds, supports and protects investment structures and strategies worldwide. With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone is now supporting asset managers with more than US$2Tn in AUM globally. Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.

      Press Contact:  Alison Mitsas

      [email protected]

      Tel:  +39 327 751 1500

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