Institutional governance, risk and compliance solutions provider Waystone has acquired T. Bailey Fund Services Limited (TBFS). The transaction comes as a response to an increased demand for UK domestic products in the industry.
As an established independent UK authorised corporate director (ACD) and fund administration service provider, TBFS will help to continue Waystone’s expansion in these markets.
TBFS will continue offering its current services, alongside a wider pool of resources and expertise, to its fund manager clients. Thanks to Waystone’s knowledge and resources, TBFS will gain improved compliance systems, regulatory support and multi-jurisdictional offerings.
Rachel Wheeler, CEO of global management company solutions at Waystone, comments: “The addition of TBFS means we are able to offer our clients a premium, fully serviced ACD offering, 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.”
Jessica Kirk, CEO of TBFS, says: “The agreement 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. We look forward to working together.”
